According to the Malibu Times, a study done by real estate blog PropertyShark found that Malibu had the most expensive real estate in the one-bedroom category, with a median price of $1,719 per sq. ft. In comparison, Santa Monica has a median price of $878 while Beverly Hills has a median price of $592 in the same category.
In the past five years, the study found that home prices have increased at an “average annual rate of 11 percent,” leaving real estate 66 percent more expensive than five years prior.
The median price for a one-bedroom house in Los Angeles County comes to $501 per sq. ft.
Overall (among all categories, from studios to estates), Malibu takes the No. 2 spot for median price per sq. ft. at $933, just below Manhattan Beach’s $943.