Forbes Special Report.
Compiling lists of the biggest, best and most expensive things in the world has become the trademark of Forbes Magazine. Want to know who the top 400 richest people in the country are? They have that. How about a list of the most powerful women in business today? Got that one covered too.
In keeping with that theme, Forbes recently published a rather interesting list of the 500 most expensive zip codes for residential property in the United States. It’s interesting because some of the results might not be what you’d expect. But before we dive into some of those details, it’s worth noting a couple of things in this list. First, Forbes uses median sales price as their metric for ranking the zip codes. Some statistical purists may argue that average sales price might be a better metric to gauge the relative worth of a neighborhood. But regardless, they chose to use the median as the yardstick.
Second, when you succumb to the temptation to compare San Carlos to other nearby communities, it’s important to bear in mind that many nearby communities have multiple zip codes, so it’s difficult to make that comparison. Redwood City is a great example — 94062 is the zip code that covers Emerald Hills, and it ranked well at 212th place. But it was the only one of the 5 zip codes within Redwood City to make the list.
Where’s San Carlos?
A number of questions jumped into my head when I first found that this list existed. Did 94070 even make the list? If so, where was it? How did it compare to other communities of similar size such as Belmont or Foster City? So, what do you think — did the City of Good Living make the list of ALL of the Cities of Good Living? Here are the results….(drum roll please)
- Ranking: San Carlos ranked 411th on the list of the 500 most expensive zip codes in the country with a median sale price of $742,089.
- Belmont: Not only did Belmont make the list, but it stomped San Carlos in the ranking by a whopping 144 places, coming in at 267th and a median of $899,000.
- Other local cities: Burlingame ranked high at 144 — Menlo Park hit 156. Foster City came in at 459.
Here’s the List.
If you’re interested in killing a few hours and perusing the entire list of 500 zip codes, here’s the link: Forbes’ List of the 500 Most Expensive Zip Codes.
So, Belmont is more expensive than San Carlos? Who woulda thunk it….
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