Can a Common Individual Afford to Live in Beverly Hills or Malibu, California?

Can a Common Individual Afford to Live in Beverly Hills or Malibu, California?

Introduction

During the 1980s, my brother-in-law experienced how life worked in Beverly Hills. We received monthly phone bills with collect calls from Beverly Hills, a testament to the allure and challenges of life in this upscale neighborhood.

A Relatable Story

The story goes back to the 18th birthday of my wife's step-brother. The day he turned 18, he took a one-way Greyhound bus from Memphis to Los Angeles. He worked hard to make a life for himself there. At one time, he held multiple jobs simultaneously: a bank teller, a DJ in a country western bar, and a limo driver—all within the same week. While he passed away, he left behind a vivid memory of a big California life in Beverly Hills.

Realities of Living in Beverly Hills

For those who are single and content with a small apartment, you can likely find a place to live, but it will come with a hefty price tag. A small one-bedroom apartment in Beverly Hills can cost around $3,700 per month. This is a substantial amount that demands a significant income or financial support.

The Financial Reality

Living in Beverly Hills doesn't necessarily require fame or wealth, but it does require a substantial income. If you are not wealthy, you won't be able to live comfortably. The cost of living in this luxurious area is extremely high. Similarly, residents of Malibu, another glamorous city in California, face similar financial challenges.

Malibu, known for its beaches and Hollywood stars, also presents a significant challenge for anyone hoping to live there. The median home price in Malibu is over $5 million, and rental costs are similarly steep. To make a comfortable living in Malibu, you would need a salary that can comfortably cover these expenses.

Some Considerations

Consider the following before moving to Beverly Hills or Malibu:

Income Level: Ensure your salary or financial support is sufficient to cover the high living costs. Job Opportunities: Research the job market and employment opportunities in the area. Potential jobs in these areas often require specialized skills or a substantial network. Financial Support: If you are not wealthy, you may need financial support, such as from family, to make ends meet in these areas.

Ultimately, while it's possible to find a place to live and survive in Beverly Hills or Malibu, achieving a comfortable lifestyle there demands both a supportive financial situation and a strong work ethic. It's not just a dream; it is a reality that must be faced head-on.

Conclusion

From the stories of my brother-in-law and his step-brother to the financial realities of modern-day life, it is clear that living in Beverly Hills or Malibu, California, is a challenge for any common individual. While financial stability and a bit of luck can make it possible, a strong financial background is the key factor in making a comfortable life in these areas.