Perhaps best known for extravagant homes and world-class shopping, Beverly Hills, California is more accessible than some may think. The city is located in Los Angeles County and 34,000 people live within its 5.7 square miles .
Coldwell Banker lists Beverly Hills as the most expensive housing market in 2007. The median home price was $2.2 million. But the average income for city residents is just over $87,000. The apparent discrepancy can be explained by the fact that the city has more renters than it does homeowners, and the median income of renters is just over $48,000.
Still, opulence can be found within the city limits. One of the most well-known streets in the county may be Rodeo Drive which is 3 blocks of high-end shopping that includes over 100 stores.
While the city is accessible to those who do not possess great wealth, Beverly Hills is home to some very rich and famous people. CNN/Money compared the prices of what many would consider an average size home. They looked at 2200 square foot homes with 4 bedrooms. The cost for such a home in Beverly Hills was over $1.6 million .
Such a price tag would prohibit the average person from purchasing in Beverly Hills, but rental property is more affordable. According to GoodApartment.com, the average rental rate for a 3 bedroom apartment is $1900 per month .
Because of the wealthy population in the city, the services provided often exceed those typically found. With an operating budget of $300 million, the city spends over $8500 per resident . Such a high amount spent per resident allows the city to offer excellent services including those for senior and disabled residents and superior street maintenance and public safety departments.
The city has a large Iranian population. In 2007, Jimmy Delshad became Beverly Hills the first Iranian-American mayor. At the time of his election, there were about 8,000 Iranians living in the city. That is almost 24% of the total population .
The city is decidedly liberal with over 50% of residents being registered democrats. Only 25% are republican while the rest are independent. Beverly Hills is home to a long list of movie stars and other celebrities.
The list of famous landmarks in the city is almost as long as the list of famous residents. Some of the most well-known landmarks are The Beverly Wilshire Hotel, Walden Drive, Rodeo Drive, Greystone Park and Pickfair, the mansion designed for the silent film star couple Douglas Fairbanks and Mary Pickford. Many famous guests have dined and stayed at Pickfair including Helen Keller, Charlie Chaplain, Albert Einstein and Amelia Earhart.
Beverly Hills is a city that is accessible to residents of all incomes and offers a long list of amenities and a rich history that make those residents never want to leave.
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