If you are referring to Pismo Beach as an upper class town, it is best characterized as a middle class (town-sized) city with a tourist industry serving primarily middle-class visitors. It is certainly no Newport RI or Newport Beach CA.
Neighboring city Arroyo Grande is notable for its high number of top performers in high school shotput and discus. One of them later won the women's discus at the Beijing Olympics: Stephanie Brown Trafton.