March 2, 2020
Katy Perry, Dr. Phil, Jeff Bezos , John Legend and Chrissy Teigen, Ashton Kutcher and Mila Kunis, Eddie Murphy—they all have opulent homes in the 5.7-square-mile area in Los Angeles known as Beverly Hills. Indeed, along with Bel Air, it has been the area where Hollywood stars have “lived large” since the 1920s, Bloomberg reports..
But now, things are changing. Keeping Up With the Kardashians, which begins its 18th season next month on the E! network, has put a spotlight on another part of the Los Angeles metro area—Calabasas, a 13.7-square-mile area on the west side of the city.
This year, for the first time, the community of about 24,300 people has eclipsed Beverly Hills in Bloomberg’s annual ranking of the richest cities nationwide. The average household income in Calabasas is $194,010—more than twice the national average and about $4,000 higher than Beverly Hills, which has 34,600 residents.
Located about 25 miles west of downtown Los Angeles, Calabasas owes some of its success to the usual reasons: good schools, low crime, and open space. But the Kardashians’ reality TV show has had its own effect, showing that in Calabasas, the rich and famous can live normal lives without having to dodge paparazzi and tour buses every time they leave home.
“You’re not going to get tourists walking around Calabasas. UYou’re going to get the celebrities that live here, going to the gym and going to the supermarket,” Tomer Fridman, a luxury real estate agent who works with the Kardashians told Bloomberg “That’s why they live here — for the privacy.”
The Calabasas Country Club cites the “celebrity factor” as a reason to move there. Kim Kardashian and Kanye West live in Hidden Hills, as does the rapper Drake. Actors Will Smith and Jada Pinkett-Smith keep a 150-acre Calabasas compound, while Justin Bieber sold his $7.2 million Spanish-style retreat in the city to Khloe Kardashian. Actress Katie Holmes just sold a home there for about $4 million, the Los Angels Times reported this week.
Another reason to look there? Real estate in Calabasas is relatively cheap compared with Beverly Hills. That’s the premium people pay to live in the city, Fridman said. The median home price in Calabasas is $1.19 million, while it’s $2.7 million in Beverly Hills, according to Zillow. What Westchester is to Manhattan, Calabasas is to Beverly Hills, Fridman said.
Although the Kardashians first started taping their show from Hidden Hills, which has about 2,000 residents, the family and some of its members also have lived in Calabasas. The clan called the city home from 2003 to 2005 before moving to a bigger place in Hidden Hills, according to the L.A. Times. Kylie Jenner, the 22-year-old cosmetics mogul, bought her first house, a $2.7 million starter pad, in Calabasas in 2015.
So, it really depends which “in crowd” you want to be “in” with. After all Jennifer Anniston lives in Bel Air.
Research contact: @business