Los Angeles, Ca - Real Estate
Beverly Hills is a city found in Los Angeles County, CA. The city and neighboring West Hollywood are both completely surrounded by the city of Los Angeles. The area's wealthiest neighborhoods, comprising the most exclusive real estate in the nation, include Beverly Hills and the neighborhoods of Bel-Air and Holmby Hills.
One of the most well known features of Beverly Hills is the Sunset Strip, which is shared with nearby West Hollywood, on the famed Sunset Blvd. Other roads of note include Wilshire Blvd and Santa Monica Blvd. Two of the shopping streets are Beverly Drive and Rodeo Drive. Coldwater Canyon Drive is the main road connecting Beverly Hills to the San Fernando Valley.
Everyone in Beverly Hills is not wealthy, as portrayed by Hollywood. Though some of the largest mansions in Los Angeles County are within its area, they make up only about 10 percent of the city. The remaining residences include relatively modest duplex rental units and detached homes covering less than 3, 000 square feet. A few areas within Los Angeles County are more uniformly wealthy and can boast of a higher household median income than Beverly Hills. The city's average household income, a bit more than 71, 000 dollars, is only 18, 000 dollars greater than the county average.
Currently, Beverly Hills has the most expensive housing market in America, for the second year in a row with a median home cost of 2.21 million dollars.
The median household income for the city was nearly 71, 000, about average for an upper-middle class suburb and near to the median for the city of San Jose, situated in the same State. However, the median cost for an owner-occupied house is more than one million dollars. The underlying reason for this is the atypically large proportion of renters in the city. So many renters live in Beverly Hills that persons who own homes are not the majority. Renter-occupied homes comprise 56.6 percent of the city's residences and the median household income for these housing units is a bit below 50, 000 dollars, just a bit above average for the entire nation. The median household income for an owner-occupied housing unit is 125, 000 dollars.
Beverly Hills has three newspapers: the Beverly Hills Courier, Beverly Hills Weekly and Beverly Hills 213 magazine. The Beverly Hills Post, once one of the main papers, is no longer in business. Because of where it is situated, the city is served by all Los Angeles TV, radio, and newspaper media.
Matt Paolini is a real estate writer for CityBook, the family-safe Los Angeles Yellow Pages, which carries an extensive directory on Los Angeles mortgages, loans and insurance.
Article Source: ArticlesBase.com
