aiexpress – California is home to many of the wealthiest places in America, attracting the rich and famous from all over. Los Angeles and Silicon Valley, in particular, have become hotspots for the affluent. Let’s take a look at the richest cities in California for 2023. Forbes has compiled a List of top 10 richest cities in California ranked.
What are the criteria used to determine the richest cities in California?
The richest cities in California are typically determined by their median household income. This statistic represents the middle point of all household incomes in the city, meaning that half of the households earn more than this amount and half earn less. Other factors that may be considered include the cost of living, the unemployment rate, and the number of high-net-worth individuals.
1. Los Altos Hills
Los Altos Hills, located in California, takes the crown as the richest city in the state. As of 2023, the town boasts a median income of $254,000, surpassing its close competitors Woodside and Hillsborough. Los Altos Hills has held the title of California’s wealthiest city since 2019, previously ranking fourth.
Los Altos Hills, situated in the heart of Silicon Valley, boasts a population of around 8,000 residents, a significant number of whom are employed in the thriving tech industry. Blessed with a delightful climate and picturesque hills, Los Altos Hills offers an idyllic setting for those seeking an ideal place to call home.
Woodside, a city located in San Mateo County, holds the distinction of being the second wealthiest city in California. It is home to numerous technology millionaires and boasts a median income of $251,000, slightly lower than that of Los Altos Hills. The affluence of its residents is evident in the local real estate market, where property prices often surpass the $5 million mark.
Hillsborough, the third wealthiest city in California, boasts a median income of $250,001 and has consistently held its position as one of the state’s most affluent areas. In fact, it even claimed the top spot on this prestigious list in 2019.
Hillsborough, situated in San Mateo County, is renowned for its exceptional public school system, secure neighbourhoods, and exorbitant cost of living.
4. Los Altos
Los Altos, a city located in Santa Clara, is often mistaken for its neighbor, Los Altos Hills. While Los Altos Hills holds the top spot, Los Altos takes fourth place on the list of California’s most affluent cities. With a median income of $240,094, it is undeniably one of the wealthiest cities in the state. Known for its spacious mansions and large lots, Los Altos offers a serene and family-friendly environment, making it an ideal place to call home.
Orinda, a prosperous city in California, stands as one of the wealthiest cities in the state. With a population of 19,461, Orinda boasts a median income of $231,230. This friendly suburban community offers its residents a plethora of enjoyable activities. Outdoor enthusiasts can revel in the abundance of hiking trails and golf courses scattered throughout the area. Moreover, Orinda’s vibrant town center beckons with its array of trendy boutiques, hip bars, and delightful restaurants, ensuring that there is always something for everyone to savor.
Orinda is renowned for its ability to strike a balance between a tranquil family-oriented lifestyle and vibrant nightlife. Families with children find this city particularly appealing due to its exceptional public schools and the abundance of families residing here.
6. Palos Verdes Estates
Palos Verdes Estates, nestled on the scenic Pacific Ocean coastline, is renowned as one of California’s most affluent cities. Boasting a population of 13,359 residents, this coastal haven offers a median income of $197,826. As a proud resident of Palos Verdes Estates, you’ll have the luxury of effortlessly enjoying both the breathtaking beaches and invigorating hiking trails. Safety is paramount here, making it an ideal place to call home, while the city’s vibrant dining and entertainment scene adds an extra touch of excitement to everyday life.
Cupertino, the seventh wealthiest city in California, boasts a median income of $182,857. Nestled beside the picturesque Santa Cruz Mountains, this city offers breathtaking views and a thriving natural environment.
Cupertino, located in California, is renowned as the hometown of Apple Inc. and is populated by a significant number of tech professionals from Silicon Valley. This charming town is well-regarded for its family-friendly and secure environment, making it an ideal place to raise children. Moreover, Cupertino boasts a plethora of excellent employment prospects, contributing to its reputation as a hub of job opportunities. However, these desirable attributes have also resulted in Cupertino being ranked among the most costly places to reside in California.
8. La Habra Heights
La Habra Heights, located between Los Angeles and Orange counties, is renowned as one of the wealthiest cities in California. With a population of 5,318, this picturesque area boasts a median income of $163,750. Its canyon-like landscape and delightful Mediterranean climate contribute to the city’s allure. Moreover, one of the major highlights of La Habra Heights is the breathtaking scenic views it offers.
9. Foster City
Foster City, located towards the end of the list, stands out as one of California’s affluent cities. With a population of 33,056 individuals, Foster City boasts a median income of $163,322. It is worth noting that a significant number of residents in this city are homeowners.
Foster City is a bustling hub with a range of coffee shops, restaurants, and parks, ensuring that there is always something to do. Notably, the city has an exceptional safety record, surpassing many other cities in the state. In fact, it is regarded as one of the safest places to live in California.
10. Westlake Village
Westlake Village, the 10th richest city in California, boasts a median income of $153,007. Despite its high cost of living, residents of Westlake Village can expect exceptional value for their money, thanks to the abundance of activities offered in the city. Situated as a suburban haven near Los Angeles, residents are only a short drive away from the bustling city, serene beaches, and picturesque natural landscapes.
Richest Cities in California Comparison
|Los Altos Hills
|Palos Verdes Estates
|La Habra Heoghts