GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you could read more about oureditorial guidelinesand our products and servicesreview methodology.
Santa Barbara: Where Your Retirement Savings Go To Die
Ah, Santa Barbara.
Its hard for retirees on fixed incomes to enjoy a comfortable lifestyle in Santa Barbara without financial stress.
Thats not a home price, thats a lottery jackpot.
Stevenson added, Sure, its beautiful, but is it that beautiful?
Santa Barbaras high demand and limited housing supply have driven prices through the roof.
For retirees, this means spending big bucks just to get a modest home.
So unless your retirement plan includes finding buried treasure, you might want to admire Santa Barbara from afar.
Like, say, from a postcard.
He added, Dreaming of a vineyard retirement?
That dream comes with a hefty price tag.
Napas restrictive building laws and popularity make it tough to find affordable homes.
Retirees find it difficult to cover both the housing costs andeveryday living expenseshere.
Its like theyre selling houses up magical beanstalks.
Either way, youll need a giants wallet to afford them.
This makes it a tough option for retirees trying to stick to a fixed budget during their retirement.
Turns out, those ocean views come with ocean-sized price tags.
He reported a median home price of $2 million plus.
La Jolla is exclusive, but exclusivity comes at a steep price.
With properties starting at $2 million, its a playground for the wealthy, not the average retiree.
Looks like the only thing getting a tan in La Jolla is your credit card from overuse.
Its more like a mirage of affordability.
Stevenson broke it down: Median home price: $750,000 plus.
Palm Springs used to be anaffordable desert oasisfor retirees, but the housing market has taken off.
Vacation home buyers and rental investors have pushed prices up.
Seems like the only thing hotter than the Palm Springs weather is itsreal estate market.
Stevenson placed the median home price in Monterey at $1.3 million or more.
Montereys coastal charm is undeniable, butreal estate agentswarn that limited development makes it expensive.
Housing prices are high, and inventory is low.
Looks like finding an affordable home in Monterey is about as rare as spotting a mermaid at Cannery Row.
For our full Privacy Policy,click here.
