Cowell St, Santa Cruz

It doesn't get any closer to the beach than this - Cowell Street IS full-on beachfront property. Unlike its southern neighbors in this overpriced state, Santa Cruz beaches are filled with modest residents and residences, college students, professionals, burnouts and surf bums alike. True to form, the houses here are smaller, closer together, and could potentially house multiple families.

But with the convenience of the area, who cares? Being close to the ocean and the boardwalk means proximity to sun, surf, great food, and great nightlife. The ocean here is quite a bit colder than it is in Southern California, and summers can absolutely be cool and foggy, but the trade-off is living in a normal, understate, diverse town with lots to do and little snobbery. This is a great value.