Rich and single in LA?
If the title attracted your attention, then purchasing one of the homes for sale in Los Angeles may be a great option for you. This is because CNN Money has recently released a list of the best cities in the country to live if you are rich and single. The list is constructed based on cities in the U.S. where the median household income and the percentage of singles in the population is higher than average.
Luckily, for those of you hoping to buy property in sunny Southern California, there are several Los Angeles County cities that have landed on the list. Whether it's the year-round mild climate that attracts the single, well-to-do residents, or it's the promise of making it big in the entertainment industry, for whatever reason, it appears that this demographic can't get enough of the Southland.
Take a look at these cities in or near LA County that made it on the list and consider how buying a home in one of these areas could be a great option for you.
Redondo Beach (#5) - Of all the cities in the United States, Los Angeles County's Redondo Beach came in fifth on the list. According to the U.S. Census Bureau, the city has a land area of 6.20 square miles and the 2011 population in Redondo was 67,233. The homeownership rate from 2006 to 2010 was 50.8 percent and the median value of owner-occupied housing during the same period was $762,800. Furthermore, 33.6 percent of the population is single and the median family income is $118,525. CNN Money states that Redondo Beach is often referred to as the Hollywood Riviera and was once the playground of the Hollywood elite. Today, it's an excellent area to go sailing or yachting, and The Strand offers a variety of restaurants and live music venues.
Irvine (#6) - Located in Orange County, Irvine is just south of Los Angeles County and approximately 40 miles southeast of downtown LA. It has perhaps landed sixth on this list because it includes 20,000 acres of parks and preserves, 300 miles of bike trails and the beach is only 10 miles away. Around 32.5 percent of the 213,600 population is single and the median family income is $116,232.
Santa Monica (#13) - Located approximately 17 miles west of downtown Los Angeles, Santa Monica is one of the most popular and beautiful cities in the county. This vibrant community is situated on Santa Monica Bay and is a great place to enjoy lunch at a sidewalk cafe or to spend the afternoon relaxing on the beach. The population is around 90,647, 40.9 percent of whom are single. The median family income in Santa Monica is $106,335 and the median value of owner-occupied housing is $985,500.