A remote town about six hours north of San Francisco might be the only spot left on California’s coast where aspiring homeowners can snatch an affordable beach house under $400,000.
A remote town about six hours north of San Francisco might be the only spot left on California’s coast where aspiring homeowners can snatch anaffordable beach houseunder $400,000.
Crescent City, a small town of about 7,000 people, is California’s northernmost county with about 80% of the region being made up of state or national parks.
“It’s a bit like living on an island,” Adam Goldstein, who moved to the rugged coastal town about eight years ago, told theSan Francisco Chronicle.
The average price for homes that are within walking distance or a short drive from the beach in Crescent City is $353,000 — far lower than any of other costal town, according to an analysis by the Chronicle.
A 4 bedroom 2 bathroom home that is just over 1,300 square feet is listed onZillowfor $325,000.
Another home that sits on 1,147 square feet and has 3 beds and 1 bath is going for $315,00.
While the homes are far cheaper than themillions of dollarspeople would have to spend to get property in other coastal cities like Malibu or Santa Monica, it is still pricey for the residents who live in the area and have poverty rates higher than the state average.
“It is quote-unquote affordable,” Eric Wier, Crescent City manager told the Chronicle. “But that doesn’t mean it’s affordable for the people who live here.”
Low wages, coupled with limited economic opportunities make it difficult for residents to afford a home, especially when the median value has more than tripled since 2000, the paper reported.
Source: California Post – Breaking California News, Photos & Videos
