Living in a highly desirable and extremely wealthy city is not cheap. Currently as of November, 2015 the average single family home price is $9,392,502 with the cheapest house on the market at $880,000 and the most expensive on the market for $135,000,000. Obviously this is a huge price range and since there are several homes at the high eight and nine figures, it is causing the average price per home to be higher than normal.
With the opulence and glamour, it is no wonder why so many people desire to live Beverly Hills. It has so much to offer and is the place to be seen. Another big reason why people want to live in Beverly Hills is because it is its own city. They have their own police department, fire department, and schooling system. This is separate from Los Angeles and is operated with different laws and rules than Los Angeles.