California’s Million-Dollar Club Expands to Working-Class Cities

The California real estate market is booming, with working-class cities now joining the ranks of million-dollar listings. According to the Los Angeles Times, cities like San Gabriel, Cerritos, Placentia, Orange, Tustin, and Thousand Oaks have seen a significant increase in home values, with some experiencing growth of nearly 12 percent in just one year.

In fact, California now boasts 210 cities where the median home value is over $1 million, making up 38 percent of the nation’s “million-dollar cities.” This trend is not limited to just coastal areas, as cities across the state are seeing their home values skyrocket.

One couple, Tor and Iris Black, purchased their “forever home” in Tustin Meadows for $800,000, only to see its value soar to $1.3 million in a short period of time. The Blacks are not alone in their success, as Southern California buyers are driving home prices to record highs.

With the average home in Tustin now worth 10 times the median household income, it’s clear that the real estate market in California is red hot. And with more cities joining the million-dollar club each year, it seems that the trend of rising home values is here to stay.