Lafayette, Orinda Residents Rank Among Happiest In America: Survey

LAMORINDA, CA — Residents of Lafayette and Orinda are among the nation's happiest within affluent communities. That's according to a new survey of residents of America’s most expensive locales.

Living the Dream or Paying the Price?

CardRates surveyed 3,000 residents of some of the country’s priciest areas to find out whether their lifestyle truly was worth the financial burden. The goal was to create a revealing ranking of happiness versus the cost of living, pinpointing where residents feel the benefits genuinely outweigh the (steep) price. A list of the top 150 was compiled.

"World-famous Malibu emerged at number 6 on the list," Cardrates.com said. "Another place which attracts the rich and famous, it’s home to the likes of Leonardo diCaprio, Cindy Crawford and Miley Cyrus, drawn to its unspoiled beaches, surfing lifestyle, and tranquil atmosphere."

Malibu was the lone California community in the top 10. Six more California cities were included in the rankings: Palos Verdes Estates at No. 29, San Marino at No. 34, Lafayette at No. 37, Menlo Park at No. 38, Saratoga at No. 51, and Orinda at No. 102.

Here are the top 10:

1. Palm Beach, Florida
2. Boca Raton, Florida
3. Ewa Beach, Hawaii
4. Naples, Florida
5. Kailua, Hawaii
6. Malibu, California
7. Sunny Isles Beach, Florida
8. Big Sky, Montana
9. Garden City, New York
10. Coral Gables, Florida

CardRates also wanted to find out what aspect of living in an affluent neighborhood area brings the residents the most satisfaction. Over a third —38 percent —rated the high quality of schools and the family-friendly environment, suggesting they feel safe and secure here, while 34 percent loved the access they had to nature and outdoor activities. Proximity to high-paying job opportunities was rated by 16 percent (well, you have to pay for that beach house somehow) while a vibrant cultural or social scene was appreciated by 12 percent.

When asked what they would do if financial pressures became overwhelming, the majority—39 percent—said they’d cut back on non-essential spending, 38 percent said they’d have to seek a higher-paying job, while 18 percent would bite the bullet and regretfully downsize or move to a more affordable neighborhood. A risky 5 percent said they would take on additional debt.

Another question asked was what drove the decision to stay in the community, despite its high costs, and nearly a third— 31 percent— praised the community connections and friendships, which some considered priceless. Twenty percent valued the proximity to family or important networks. In comparison, 18 percent enjoyed the unique lifestyle and amenities available only where they lived, and 9 percent liked having career-related opportunities.

CardRates found that the biggest downside to living in an affluent neighborhood was the high cost of housing, cited by 60 percent of respondents. Twenty-five percent mentioned the cost of goods and services, which tend to be higher in affluent areas, and 15 percent bemoaned the lack of affordable amenities.

"Our study shows that although living in some of the most desirable areas comes with significant financial strain, it is a price worth paying for many residents, who place an enormous value on the unique lifestyle they bring," said Jon McDonald, senior editor at CardRates. "It’s a testament to the aspirational appeal of some of these affluent locations."

See the full list here.