Being rich in Southern California requires a few more zeros than other parts of the country. If you’re curious just how much it takes to live in some of the most expensive parts of SoCal, here’s a look at some rankings compiled by
Nerdwallet who put together a list of the wealthiest cities on the West Coast based on median household income and home values. It just so happens that 12 of those cities are located right here in SoCal. Did your city make the list?
Coming in at number 12 is Irvine in Orange County. The median household income in Irvine is just shy of $91,000 and the median home value is $784,500.
11. Lake Forest
The 11th richest city in Southern California is Lake Forest where the median household income is $96,655 and the median home value is just under $650,000.
10. Santa Monica
The median household income in Santa Monica is $82,096, and the median home value is quite a bit more expensive than you might expect. Want to take a guess? How does 1.3 million sound? Ouch!
9. Chino Hills
In Chino Hills you'll find a median household income close to 100k and a median home value of $586,600. Looks like you can get a whole lot more house in this part of SoCal than you can in other areas.
8. Mission Viejo
Coming in at number 8 is Mission Viejo. The median household income in this SoCal city is just under $104,000 while the median home value is $659,600.
7. Thousand Oaks
Did you expect to see Thousand Oaks on this list? In this Southern California town you'll find a median household income close to $97,000 and a median home value close to $669,000.
6. San Clemente
There's no surprise that San Clemente is one of SoCal's richest cities. With a median household income just shy of $98,000 and a median home value just over $851,000, this is definitely one city where you need a hefty income to buy a house.
The only place in San Diego County to show up on this list is the charming city of Carlsbad. You'll find a median household income close to $105,000 and a median home value of $740,200.
4. Redondo Beach
This beach town in SoCal has one of the highest median home values on the list at $916,300. Any guesses on the median household income? In Redondo Beach that number is $103,064.
3. Laguna Niguel
It's not a shock to see another city in Orange County show up on this list. In Laguna Niguel you'll find a median household income of $96,732 and a median home value of $776,600.
2. Yorba Linda
Ranked as the second richest city on this list, Yorba Linda has the highest median household income in Southern California at $117,368. In comparison, Yorba Linda's median home value is a lot less than other cities on this list at $781,500.
1. Newport Beach
And the richest city in Southern California is Newport Beach. The home value in Newport Beach is what really makes this city rank at the top with a median home value over 1.5 million. Compare that to the median household income just under $107,000 and it makes you wonder how anyone could ever afford a house.