Why is Manhattan Beach So Expensive?

Across the United States, south of Manhattan Beach, CA lies a city that has become increasingly expensive. Los Angeles County remains the most expensive county in the state, with 21 of its zip codes on the list. But it was surpassed by Bay Area Santa Clara and San Mateo counties, which contributed 10 zip codes to the list. These two counties form a nearly contiguous supergroup of ultra-expensive zip codes that cover high-profile technology hubs such as Menlo Park, Mountain View, Palo Alto, San Jose and Sunnyvale.

To determine the most expensive zip codes in the U. S., PropertyShark takes into account condominiums, co-ops, and single-family and two-family homes. A shortage of homes for sale in California, low mortgage rates during the pandemic, and increased demand for the state's highest incomes earlier this year are what drove the state's median home price above that threshold in the spring. At the end of summer, home prices continued to rise little by little, albeit at a much slower pace, according to Oscar Wei, chief economist at CAR.

Inflation, driven by an economy hurt by the pandemic, has also raised home prices. Manhattan Beach is part of Los Angeles-Long Beach-Glendale Metro Div. Metropolitan Area, ranked 12th out of 273 cities in the U. S.

Department of State in terms of cost of living. According to C2ER (the Council for Economic and Community Research), the cost of living in Manhattan Beach is estimated to be 146.6% of the national average, making it one of the most expensive cities in the U. Property Club's analysis revealed that Manhattan Beach is one of the most expensive U. zip codes during the coronavirus pandemic. So if you're considering moving to Manhattan Beach, CA it's important to plan ahead and make sure your net income covers your needs and wants so you can live comfortably. Climate change, student debt and inflation are some of the reasons why Manhattan Beach is so expensive.

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