Real estate in and around Solvang is very expensive, being a close neighbor of pricey Santa Barbara. Small condos sell for hundreds of thousands of dollars and larger properties typically cost in the millions. Although there are some nursing homes in the vicinity there do not appear to be any 55+ developments. You can live in town in several attractive neighborhoods or in the surrounding countryside. Real estate is not for the faint of heart: according to City-data.com, the median home sale price was around $650,000, in late 2014.