Why SoCal is More Expensive Than Any Other State

Why SoCal is More Expensive Than Any Other State

Did you buy a home in SoCal at the peak of the market? We want to hear from you!

What is SoCal?

In the United States, a “SoCal” refers to California, where the cost of living is more expensive than anywhere else in the country. This could be the result of a number of factors, including:

a. The “cool girl price” – so called because it is easier to buy a home in a relatively upscale town like Brentwood or Malibu for a higher price than anywhere else in the nation.

b. The proximity to the beach

c. Less competition – unlike in the Midwest, it’s not like you have to compete with a McDonald’s.

SoCal is also home to a number of extremely expensive housing markets, such as Beverly Hills and Malibu. The median sales price of a house in Beverly Hills is $4.1 million, while the median sales price of a house in Malibu is $3.7 million.

SoCal also has some incredibly luxurious neighborhoods, which are very exclusive and expensive to live in. There are two most-expensive counties in the entire United States, Orange County and Los Angeles County, which are both in California.

There’s more to SoCal than just housing prices. For instance:

a. It’s much easier to save money with a job in SoCal. SoCal has a much higher proportion of people with jobs.

b. It has an above-average college population, so kids don’t have to borrow much money to pay for their college education (as they do in some other areas of the country), which makes education much less expensive.

And, as you’ll see by looking at the following chart, SoCal also has a high rate of child poverty.

The good news for California residents is that the price of living in SoCal will be significantly reduced in the coming years, as a number of government policies are being considered to make the state more affordable to make it more livable. Below are some examples:

a. Higher housing prices for the lower-income residents of SoCal

Although a house is only worth what a buyer is willing to pay for it, the home price for SoCal (regardless of income level) will

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