It's hard to fathom, but in the celeb-friendly enclave of Malibu, California, some renters pay more for a summer of beachside bliss than it would cost to buy a home outright. According to realtor.com, the average U.S. home cost $189,900 in February 2013. The price tag to live in the Malibu lap of luxury for the summer? That and more.
In Malibu, six-figure rentals come with panoramic views of the Pacific Ocean, easy access to the shore, and a celebrity neighbor or two. Celebrities feature prominently on both sides of the Malibu rental economy. A variety of celebrities including Kate Hudson, Pierce Brosnan, Pat Riley, and the Osbournes have listed homes in Malibu in past summers. Leonardo DiCaprio currently has a seven-bedroom property in Malibu on the market. It is listed for sale for $23 million, or you can rent it out for $75,000 a month.
DiCaprio's home is on Malibu County Road, where many of the most expensive rentals are clustered. The gated community offers plenty of privacy and most homes boast panoramic vistas from the lights of Santa Monica in the south to tranquil Point Dume in the north.
You might not be borrowing a cup of sugar from your neighbor Leo, but at least you can dream...