7 Most Overpriced California Retirement Towns, According to Experts

A California retirement conjures of visions of sunning by the beach during the day before heading to the mountains to cuddle up in front of the fire in the evening. Well, that sounds lovely — but some Golden State retirement spots might leave your golden years feeling a bit… tarnished. These towns are prettier than a sunset over the Pacific, sure, but they’re also pricier than avocado toast at a hipster café.

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Let’s dive into the California retirement towns that real estate and retirement experts think are overpriced and just not worth it .

Santa Barbara: Where Your Retirement Savings Go To Die

Ah, Santa Barbara. It’s got more charm than a Hallmark movie marathon, but according to Chad Breeden from Sentry Real Estate , it’s about as affordable as a private jet.

“Santa Barbara, California is a beautiful place to live, but the cost of living is extremely high,” Breeden said. “It’s hard for retirees on fixed incomes to enjoy a comfortable lifestyle in Santa Barbara without financial stress.”

John Stevenson, a retirement expert at RetireGuide , put some numbers to this pretty picture: “Median home price: $1.6 million plus.” Ouch. That’s not a home price, that’s a lottery jackpot.

Stevenson added, “Sure, it’s beautiful, but is it that beautiful? Santa Barbara’s 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.

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Napa: Where Your Retirement Plans Get Corked

Napa Valley: land of rolling hills, world-class wineries and home prices that’ll have you reaching for the hard stuff.

Breeden didn’t sugarcoat it: “Napa, California is famous for its wine country charm, but it’s become too expensive for many retirees, and the high median home prices make it challenging for those looking to make their retirement savings last.”

Stevenson poured out the sobering stat that the median home in Napa is priced at $1 million or more. He added, “Dreaming of a vineyard retirement? That dream comes with a hefty price tag. Napa’s restrictive building laws and popularity make it tough to find affordable homes.”

Looks like the only grapes you’ll be stomping here are the sour ones in your mouth when you see those price tags.

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Carmel-by-the-Sea: More Like Carmel-by-the-Steep

Carmel-by-the-Sea sounds like something out of a fairy tale, and its prices are just as fantastical.

Breeden painted a picture: “Carmel-by-the-Sea, California is a charming coastal town, but real estate prices are through the roof! Retirees find it difficult to cover both the housing costs and everyday living expenses here.”

It’s like they’re selling houses up magical beanstalks. Either way, you’ll need a giant’s wallet to afford them.

Laguna Beach: Where Your Bank Account Goes To Surf… Away

Laguna Beach: stunning views, beautiful people and home prices that’ll have you ugly crying.

“Laguna Beach, California offers amazing ocean views, but it’s one of the priciest areas in California,” Breeden shared. “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. Who knew?

La Jolla: The Jewel of the Coast — and Your Life Savings

La Jolla might mean “The Jewel” in Spanish, but Stevenson suggested it might as well mean “The Wallet Drainer.”

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, it’s 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.

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Palm Springs: Where Retirement Dreams Get a Sunburn

Palm Springs used to be the budget-friendly oasis for retirees. Now? It’s more like a mirage of affordability.

Stevenson broke it down: “Median home price: $750,000 plus. Palm Springs used to be an affordable desert oasis for 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 its real estate market.

Monterey: Fish Are Plenty, Affordable Homes Are Few

Monterey might be famous for its aquarium, but its housing market is anything but a whale of a deal.

Stevenson placed the median home price in Monterey at $1.3 million or more. “Monterey’s coastal charm is undeniable, but real estate agents warn 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.

This article originally appeared on GOBankingRates.com : 7 Most Overpriced California Retirement Towns, According to Experts