Celebrities Relocating: Which California Neighborhoods are They Leaving?

A recent study conducted Vegas Gems uncovered surprising data on the California neighborhoods where celebrities are choosing to leave behind. The research analyzed over 370 A-listers’ real estate transactions, revealing the areas experiencing a decline in luxury property demand.

Beverly Hills, once synonymous with celebrity residences, seems to have been most impacted. Several notable names, including Drake, Lil Uzi Vert, and Charlie Puth, have listed their homes for sale in the iconic neighborhood. This comes after stars like Rihanna and Mark Wahlberg have already made the move to greener pastures. Wahlberg even expressed his reasoning, stating his desire to establish Hollywood 2.0 in Nevada and benefit from potential tax credits for the state.

Hidden Hills follows closely with eight celebrities actively selling their properties. Kim Kardashian, Madonna, and Sylvester Stallone are among those trying to find new buyers. The listed prices range from $2.3 million to $17.2 million. Other celebrities, namely Jessica Simpson and French Montana, are also attempting to sell their homes.

Central Malibu comes next on the list, with seven celebrities, including Cher and Halle Barry, seeking buyers for their oceanfront properties. Megan Fox and Dean Cain have already bid farewell to the area earlier this year. These relocations highlight an interesting trend of celebrities diversifying their residential preferences.

These departures from California contribute to the state’s declining population, having lost 117,552 individuals between January 2021 and January 2022. Factors like the tax burden, such as the Los Angeles ‘Mansion Tax,’ have potentially slowed down celebrities’ real estate ventures. Moreover, the introduction of new measures has caused a shift in celebrities’ property mindsets.

According to the study, celebrities seeking alternatives within the Golden State are looking at areas like San Francisco and Santa Cruz, which have experienced price declines. Meanwhile, the average price for properties in Los Angeles currently sits at $20.5 million.

It’s not just celebrities seeking greener pastures. Californians, burdened the high cost of living, are also making moves. The data reveals that Arizona is the top destination for those leaving California, with 1 in every 5 migrants choosing the state. Washington, Texas, Illinois, and Colorado follow closely behind.

As the landscape of the entertainment industry continues to evolve, celebrities are reevaluating their real estate portfolios and exploring new options. The flow of celebrities out of certain California neighborhoods demonstrates the changing tides in the luxury property market.