News

California, New York top most expensive ZIP codes

California, New York top most expensive ZIP codes

COSTLY CRIBS: Sailboats are seen docked at the San Francisco Yacht Club in Belvedere, California in this file photo taken April 15, 2012. The area is among the most expensive in the nation in terms of cost of living. Photo: Reuters/REUTERS/Stephen Lam/Files

NEW YORK (Reuters) – Northern California’s Silicon Valley boasts the two priciest ZIP codes in the United States with median home prices of more than $5.4 million, Forbes magazine said on Wednesday.

Atherton’s 94027 ZIP code topped the list with house prices hovering at $6.7 million, followed by 94022 in Los Altos Hills, where homes are slightly less at around $5.4 million.

New York claimed five of the top 10 spots on the list, including Manhattan’s Upper East Side at No. 3, which dropped from first place last year, and the Long Island beach town of Sagaponack at No. 5.

California had four of the top 10 spots.

The only other state with a ZIP code on the list was New Jersey, with the city of Alpine, which slipped from second place in 2012 to No. 8 this year.

Forbes attributed the technology boom and an influx of wealthy foreign buyers from China and India, as well as American billionaires, for the increasing popularity of Atherton, which jumped from third place last year.

Its most expensive home for sale is listed at $33 million. Its cheapest, a two-bedroom bungalow, has an asking price of $1.2 million.

Colorado ski resort Aspen just missed the top 10, coming in 11th, followed by Coral Gables in Florida. Miami was far behind at No. 30 and Greenwich, Connecticut, came in at 34.

Forbes compiled the list with Altos Research, a California real estate data firm, after calculating median home prices in 22,000 U.S. ZIP codes, which are postal districts. Co-ops, which are popular in some of New York’s most expensive neighbors, were not included.

News

in Sports, Viral Videos

Nike hype video welcomes LeBron back to Cleveland

Fresh
14-overlay4

The video huddles the whole city as "The King" returns home.

in Music

Queen, Fleetwood Mac won’t be playing Glastonbury

Fresh
fleetwoodmac

The two veteran rock acts were strongly rumored to have been booked as the big names for the 2015 festival.

in Music

Rihanna donates $135K to AIDS charity

rihanna

The singer dished out $135,000 at an auction to benefit AIDS research at the star-studded amfAR Inspiration gala.

in Entertainment

Apple CEO Tim Cook: ‘I’m proud to be gay’

timcook

Cook wrote a column published on Thursday and said he hopes that his declaration can help others.