Tucked away in Orange County, Newport Beach is only 10 miles south of the busy downtown of Santa Ana and is well known for its community made up of villages, each with their own character and appeal not offered by some real estate in Hollywood.
The 2010 Census reported the city as having a population of 85,186 residents living on and around the coastline and saw a 21.6 percent growth between 2000 and 2010, much higher than the state's overall 10 percent increase in residents.
The city is well recognized for its commercial and residential areas, making it one of the most desired places to live on the west coast. In 2010, the city's median family income and property values were some of the highest in the nation. The census listed the median value for homes at $1 million while also noting that a quarter of households have an annual income of more than $200,000.
Despite higher than average home values and incomes, the data shows the median age of residents was 44. More than 17 percent of the population was under the age of 18 while 19 percent were older than 65.
Homes for sale in Los Angeles could continue to see multiple offers, as mortgage rates have remained near all-time lows despite rising in two consecutive weeks.