This beachfront city is on the western part of Los Angeles County. By the early 20th century, Santa Monica was a well-known resort town. Since the late 1980s, this city has experienced an economic boom. There was a significant growth in the job market and increased tourism. To date, the Santa Monica Pier and the Pacific Park are popular with the locals and tourists.
This city has three major shopping districts. Montana Avenue, on the northern side, has luxury boutiques, upscale shops and restaurants for fine dining experiences. Main Street district has a large collection of restaurants, clothing and specialty retail outlets. Downtown District is the central shopping area that is easily accessible from different parts of the city.
The median value of homes in this city is $1,736,700. The rate of houses in this city is higher than some of the nearby cities. The median rate for Ladera Heights is $1,219,300 while that of Topanga is $1,217,100. Homes in Santa Monica are still much cheaper than Beverly Hills, whose average rate is $3,041 900. The median rent charged in Santa Monica is $3,790. The rate of home ownership in this city is 27%. This is quite low compared to many cities. The reason behind this small number of people owning their homes could be because of the value of properties in this area.
It is estimated that 92,307 people live in this city. Population growth in this city hasn’t always followed a positive trajectory. Before the 1940s, the population in this area grew significantly. However, it stagnated once if reached 50,000 in the late 1940s. It increased in the later years until the 1980s where it halted and then declined in the 1990s and 2000s. In the recent years, the population has seen positive growth. It is expected that soon this area will have more than 100,000 residents.