subject: An Overview Of Beverly Hills Luxury Real Estate [print this page] Beverly Hills luxury real estate can be found in Los Angeles County, California. The actual city as well as neighboring West Hollywood are both completely surrounded by the city of Los Angeles. Beverly Hills is home to the most expensive real estate collectively in the entire United States, and the areas wealthiest neighborhoods comprise the most exclusive real estate in the nation. These neighborhoods are Bel Air, Holmby Hills and Beverly Hills.
One of the most famous features of the area is the Sunset Strip, which is shared with West Hollywood on the famous Sunset Boulevard. Other famous streets include Santa Monica Boulevard, Wilshire Boulevard and the shopping streets of Beverly Drive and Rodeo Drive. A less well known road that will take you to Beverly Hills luxury real estate is Coldwater Canyon Drive, which is the main road that connects the San Fernando Valley to Beverly Hills.
Even though some of the largest mansions in the county and in the country are found in this area, they only make up about 10 percent of the city. What is interesting is that even though these most exclusive mansions are found in Beverly Hills, the citys average household income is only $73,000 per year, which is only about $19,000 greater than the county average. For a few years running now, the city has staked its claim as having the most expensive housing market in the United States, with the average home costing 2.21 million dollars.
The reason that housing prices are so high but median income is relatively low is due to the large proportion of residents in the city who are renters. In fact, those residents who are homeowners are not the majority. The median income for an owner occupied house in the city is $128,000 per year.
If you are looking at Beverly Hills luxury real estate, you need to first consider what type of view you would like to see when you look out your windows every day. There are plenty of luxurious estates with different views in different settings. These include ocean views, mountain views or the landscaping of the nearby surrounding hillsides. However, the view is not the only factor that should be taken into consideration when selecting a new home in the area. Beverly Hills luxury real estate should of course be considered a serious investment with a high potential for enhancing its value over time, so choose wisely.
