California ranks position 4 among the most expensive states to live in the US. The cost of living is high while property prices are also high. California is the state that hosts the highest number of billionaires in the United States. Among notable billionaires who live in California include Larry Page and Sergey Brin; the co-founders of Google and Mark Zuckerberg the founder of Facebook. But then, where do billionaires live in California specifically?
Here, we are going to answer this question; where do rich people live in California?
Where Do Billionaires Live in California?
The following are some rich neighborhoods in California where billionaires live.
- Average Property Prices: $7.225 million
- Average household income: $525,000
Atherton is possibly the most expensive neighborhood in California. It is one of the places where most billionaires live in the US. Microsoft co-founder Paul Allen and former Google CEO Eric Schmidt own properties in California. It is the headquarters of companies like Facebook, Google, Tesla. Many homes are surrounded by well landscaped compounds and trimmed fences to prevent curious eyes seeing in.
- Average Property Prices: $5.025 million
- Average household income: $430,000
Hillsborough is one of the safest neighborhoods in California and could be it’s the reason why it attracts billionaires like Charles Johnson. The minimum property size one can buy in this borough is half an acre. This gives property owners maximum privacy. There are schools and social amenities like SPA, shops, and restaurants.
Also read: Where do billionaires live in USA?
- Average Property Prices: $3.51 million
- Average household income: $250,000
Woodside is the other richest area in California. It is home to billionaires like Steve Jobs and Michelle Pfeiffer. There are many parks in the neighborhood that you can visit. The suburb is popular with hikers and horse riders. There are many restaurants and stores where you can go shopping. A notable attraction site is the Djerassi Ranch which is home to many sculptures created by artists.
4. Hidden Hills
- Average Property Prices: $4.012 million
- Average household income: $246,000
Hidden Hills is one of the places where rich people live in California. It is a gated community offering maximum security to its residents. Some of the notable celebrities with homes here include Drake, Jennifer Lopez, Jaden Smith, and Miley Cyrus. It has areas where children can run and play without having to worry about cars.
Also read: Cities with the worst traffic in the US.
5. Beverly Hills
- Average Property Prices: $3.757 million
- Average household income: $106,000
Beverley Hill is also one of the richest suburbs in California. It is home to celebrities like Taylor Swift, Jennifer Lawrence, and Ryan Seacrest. The suburb is covered with green parks and beautiful scenery and luxury architecture while security is tight. Besides, there are many schools, boutiques, and luxury hotels in the neighborhood.
6. Los Altos Hills
- Average Property Prices: $4.957 million
- Average household income: $405,000
Los Altos is the other rich neighborhood in California and is home to billionaires like Google CEO Sundar Pichai and David Packard. It is known to be one of the neighborhoods with highest levels of literacy with a majority of its residents having at least a Bachelor’s degree. It is a great place for people who love nature to live in and connect with nature.
Also read: How many billionaires are there in the US?
- Average Property Prices: $3.693 million
- Average household income: $275,000
Malibu is a rich neighborhood in California notable for its diversity in architectural designs. Some of the celebrities who live here include Lady Gaga and Leonardo DiCaprio. There are also many beaches due to its long shoreline. You can surf, play volleyball or sunbathe at the beaches.
8. Palo Alto
- Average Property Prices: $3.564 million
- Average household income: $174,000
Palo Alto is a wealthy neighborhood in California. Some of the notable billionaires living in Palo Alto are Larry Page and Anthony Wood. The suburb has local grocery stores but it doesn’t have large shopping stores. Some of the notable attraction sites include the Museum of American Heritage, Palo Alto Junior Museum, and Cantor Arts Center.
Also read: Where do rich people live in New York?
9. San Marino
- Average Property Prices: $2.481
- Average household income: $166,000
San Marino is another rich neighborhood in California where billionaires live. Most of the houses are built in English and Spanish styles. To do change your house in this area, you must notify the authorities. Property prices keep on souring despite the strict rules in the area. Some of the iconic features you will find here include Huntington Library, Botanical Gardens, and Art Museum.
- Average Property Prices: $2.195 million
- Average household income: $220,000
Ross is a small town in California that has a rural atmosphere encompassed by hills, lakes, and parks. There are many local shops and restaurants. Other notable features include the Marin Art and Garden Center. The Garden Center offers a central hub for art and cultural events. Despite it being a small town, there are many schools.
Also read: Where do billionaires live in Los Angeles?
How Many Millionaires Live in California?
California is a home to over 1,147,251 millionaires. California is the State with the highest number of millionaires in the US. The number of millionaires in California represents 8.51% of the total number of millionaires in the US.
How Many Billionaires in California?
California is the state with the highest number of billionaires. California is a home to 189 billionaires, representing 40.29% of the number of billionaires in the U.S.
Summary: Where Do the Rich Live in California?
California is a Silicon Valley and home to 186 billionaires. A majority of billionaires and celebrities in the US live in California. California hosts many companies among the notable ones being PayPal and Google headquarters. The cost of living in California is high and since billionaires can afford it, probably it is the reason why most billionaires reside here.