Most Expensive Zip Codes (Housing)
04-29-2005, 12:08 PM
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04-30-2005, 04:31 PM
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The 2 zip codes they have in Illinois are kind of a misrepresentation also. There are far more expensive homes in Winnetka and Lake Forest than there are in Kenilworth/Glencoe, just most of them are not for sale.
Just keep that in mind - that this refers to homes SOLD, not value of homes in general. Old money towns generally do not have as many homes sold.
In the same way, they mention a couple wierd towns in Maryland. Anyone that lives in Maryland knows that Potomac, MD 20854 is the wealthiest zip code in the state and one of the wealthiest in the Mid-Atlantic in general. Where is it on this list? Nowhere.
Just keep that in mind - that this refers to homes SOLD, not value of homes in general. Old money towns generally do not have as many homes sold.
In the same way, they mention a couple wierd towns in Maryland. Anyone that lives in Maryland knows that Potomac, MD 20854 is the wealthiest zip code in the state and one of the wealthiest in the Mid-Atlantic in general. Where is it on this list? Nowhere.
04-30-2005, 04:55 PM
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128 10583 Scarsdale, Ny $833,978
the list is dominated by CA and NY
and im amazed that that is the median price, 834 doesn't really buy anything nice in s-dale
the list is dominated by CA and NY
and im amazed that that is the median price, 834 doesn't really buy anything nice in s-dale
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04-30-2005, 04:57 PM
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Wow, so many of those areas are really close to me (Atherton is only 30 min away), thankfully my zip is no where near making that list...id hate to live in a snobby area like that.
04-30-2005, 09:47 PM
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Originally Posted by ryder1650
Wow, so many of those areas are really close to me (Atherton is only 30 min away), thankfully my zip is no where near making that list...id hate to live in a snobby area like that.
Shit, I know my aspirations are to buy a home on the North Shore of Chicago. I want to live in a community full of successful people with the best schools in the state - who doesn't?
05-01-2005, 06:03 AM
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The statistics speak to a certain averaging of prices for housing in a given zip, and it is based on homes sold, rather than an assumption of capital value of all houses owned in the zip. Thus this is going to capture areas with a high average, but may well miss truly wealthy enclaves that may not dominate a given zip. And the point that some folks own hugely valued homes but - never sell them, is also accurate, and thus further influences some of the values in some of the zips that they are analyzing.
That may explain some of the absence of zips in the midwest. THere are certainly wealthy enclaves in Texas, Missouri, Minnesota, Denver, Phoeniz, Santa Fe NM, etc, that don't get "picked uup" because the enclave of wealth does not dominate the zip.
So the Forbes survey only gives one a partial understanding of the financial values in given areas and probably confirms the obvious, for the most part, and ignores the more subtle real estate patterns.
So the only thing the Forbes program sho
That may explain some of the absence of zips in the midwest. THere are certainly wealthy enclaves in Texas, Missouri, Minnesota, Denver, Phoeniz, Santa Fe NM, etc, that don't get "picked uup" because the enclave of wealth does not dominate the zip.
So the Forbes survey only gives one a partial understanding of the financial values in given areas and probably confirms the obvious, for the most part, and ignores the more subtle real estate patterns.
So the only thing the Forbes program sho
05-01-2005, 08:06 AM
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the problem with this list, and this will address phython's question.
Towns back east include poor and rich housing. a lot of the towns out west that I have seen have zipcodes that are exclusively rich only. The poor or middle class who work in those towns live elsewhere.
Where as in all our multi-milliondollar towns...rye, rye brook, larchmont, scarsdale, bronxville, purchase...etc
there are always about half the houses that are dedicated to those people, usually however the houses fall outside of the school boundaries
granted those homes are sitll $500-800K...they bring down the stats for lists such as this.
the best comparison for lists like this is to compare exact houses from regions, and not the zipcodes or towns as a whole.
For example, Greenwich, CT has more money than anywhere in the country. If anyone thinks otherwise they are beyond foolish. Yet they aren't tops on this list because there are still about 20,000 residents of greenwich in condos, or smaller houses. That doesn't really exist out west in exclusive towns.
Towns back east include poor and rich housing. a lot of the towns out west that I have seen have zipcodes that are exclusively rich only. The poor or middle class who work in those towns live elsewhere.
Where as in all our multi-milliondollar towns...rye, rye brook, larchmont, scarsdale, bronxville, purchase...etc
there are always about half the houses that are dedicated to those people, usually however the houses fall outside of the school boundaries
granted those homes are sitll $500-800K...they bring down the stats for lists such as this.
the best comparison for lists like this is to compare exact houses from regions, and not the zipcodes or towns as a whole.
For example, Greenwich, CT has more money than anywhere in the country. If anyone thinks otherwise they are beyond foolish. Yet they aren't tops on this list because there are still about 20,000 residents of greenwich in condos, or smaller houses. That doesn't really exist out west in exclusive towns.
Last edited by pgatour1; 05-01-2005 at 08:08 AM.
05-01-2005, 02:48 PM
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You have to remember too that median price is not an average - it is the middle number between high and low.
Also, one of the towns listed in MA is Dover. It's a high end town with homes with lots of acreage and horse farms. There isn't lots of turnover there in homes and if only 10 high end estates sell, what does the number really mean?
Also, one of the towns listed in MA is Dover. It's a high end town with homes with lots of acreage and horse farms. There isn't lots of turnover there in homes and if only 10 high end estates sell, what does the number really mean?
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