As the Robb Report notes, homes in Venice Beach are officially selling for more per square foot compared to ritzy regions like Bel-Air and Beverly Hills. Numbers show that the median value of a home in Venice averages about $1,440 per square foot, while Beverly Hills homes sell at about $1,049 per square foot, and Bel-Air surprisingly clocks in at $778 per square foot. 

Even though these numbers are impressive, it’s important to note that most residences in Bel-Air and Beverly Hills are often mansions averaging about 20,000 square feet or more, while luxurious homes in Venice average about 3,000 square feet. Still, Venice Beach is no longer a sleepy beach city. It’s growing into a trendy and upscale neighborhood filled with working professionals.

Residents account the rise in prices to the recent influx of major tech and media companies. The once quirky and outlandish Venice Beach neighborhood has rapidly become a thriving tech hub, and it has even spread to surrounding neighborhoods such as Playa Vista and Marina del Rey, prompting locals to call the trio of growing communities Silicon Beach. 

All of that push-and-pull between residents who want to maintain the area and tech companies who want to remake it has made it one of the toughest places to build housing, per a recent study.