A historic city in Los Angeles County is home to the “most expensive” neighborhood in California, according to a study from CashNetUSA.
Known for its plethora of A-list celebrity residents, luxury fashion shops and its famous zip code, Beverly Hills Gateway in Beverly Hills has homes with the highest average price tag in the Golden State.
On average, houses in the area cost more than $22 million, according to the study.
Researchers used Zillow data to determine which neighborhoods in the U.S. came with the highest price tag.
Not only was the Beverly Hills Gateway area named the most expensive neighborhood in California, but it was also considered the fourth most expensive neighborhood in the U.S., topped only by select neighborhoods in Florida and Colorado, experts found.
Bel Air and Trousdale Estates, neighborhoods located in L.A. County, were also named among the top 10 most expensive communities in the country, ranking seventh and 10th, respectively, researchers found.
Manalapan, Florida, was considered to be the most expensive neighborhood in the U.S., followed by Palm Island, Florida and Snowmass, Colorado.
The Top 10 Most Expensive Neighborhoods in the U.S.
- Manalapan, Florida
- Palm Island, Florida
- Snowmass, Colorado
- Beverly Hills Gateway, California
- Port Royal, Florida
- Golden Beach, Florida
- Bel Air, California
- Southampton Village, New York
- Sagaponack, New York
- Trousdale Estates, California
While it’s unlikely that most California residents can afford a home in these ultra-rich areas, housing costs in the Golden State can still be high.
The average price of a home in California is $765,900, while home prices in popular cities, such as San Francisco or L.A., can range from $930,000 to over $1.3 million, according to Redfin data.