A new Los Angeles Times analysis has revealed that California's most valuable real estate is now largely in Southern California, with seven of the 10 most expensive ZIP codes in 2025. This is a significant shift from the dominance of Silicon Valley two decades ago. Newport Beach, in Orange County, now holds three spots among the state’s top 10 most valuable housing markets. This shift has been driven by an influx of affluent buyers from Los Angeles, where pandemic restrictions, school closures and recent wildfire devastation have pushed wealthy homeowners to seek safer or more stable coastal communities. The city's rise has also been boosted by buyers seeking family-friendly neighborhoods and better public schools. Despite soaring property values, the average home value is now worth around $3 million.