@Mastadon, I don’t think @DadTwoGirls meant to spark a state competition, but I’ll play.
“Top rank” can mean different things to different people. If you simply change the cutoff to the top 25 schools instead of your top 40, CA has 5 (Stanford, Cal Tech, UCB, USC, UCLA) while MA has 2 (Harvard, MIT).
For liberal arts colleges in the top 25, each have 4. (Williams, Amherst, Wellesley and Smith vs. Pomona, Claremont, Mudd and Scripps)
For regional schools, MA has 2 of the top 10 in the north (Bentley, Emerson) and 5 in the top 25 (Simmons, Mass. Maritime, Assumption) while California has 6 in the top 10 in the west (Santa Clara, Loyola, Mills, Chapman, Cal Poly SLO, St. Mary’s) and 10 in the top 25 (Redlands, Cal Lutheran, Point Loma, Mount St. Mary’s)
For top national public universities, California has 6 of the top 10 (UCB, UCLA, UCSB, UCI, UCD and UCSD) while MA has zero in the top 25.
For top public regional colleges in the west, California has 6 of the top 10 and 12 of the top 25 while MA has zero in the top 25 in the north.
That said, if you take the Northeast as a whole with a combined population similar to the population of CA, I’m pretty sure the Northeast has CA beat.
None of this helps the OP much, though. I think she said she can pay up to $40K, As an international needing FA, the UCs are out. Privates are going to be the best bet to make up the difference.