Los Angeles has always been home to some of the world's most expensive real estate. But forget Beverly Hills, 90210: The new hot spot for multimillion-dollar mansions is Duarte, 91008. Duarte, Calif, home to the 91008 ZIP code, is a small suburb northeast of downtown LA, near the Los Angeles National Forest. The median cost of a house in this tiny town is a whopping $4,276,462, making it the most expensive housing market in the country. It ranks No. 1 on Forbes' annual ranking of America's Most expensive ZIP Codes.
A scant 1,391 people live in 91008 ZIP code, and only 12 homes are currently on the market. So a single high-priced listing (like the mammoth nine-bedroom, built this year, that's selling for $19.8 million) is enough to skew the median price skyward.
The ascent of Duarte--for which the 91008 ZIP was created since 2000, to accommodate a growing population--shows that wealth is still drawn to big cities, even if their postbubble housing prices have dropped.
"In the big California markets there is essentially a chronic shortage of homes," says Mike Simonsen, CEO of Altos Research, a Mountain View, Calif., firm that tracks housing market data. "For the number of people that might want homes, there's always an order of magnitude fewer homes available than there are in Midwest, for example." More than half the locations in our ranking of America's 500 most expensive ZIP codes are in California. Read the full article on Yahoo!
duPont Registry takes a look at America's Most Expensive Zip Code's on duPont REGISTRY Homes:
No. 2 Most Expensive ZIP code: 94027
Median Home Price: $4,010,200
Elegant Tudor estate is the epitome of Old World craftsmanship and grace. Every detail has been meticulously attended to, resulting in luxury and beauty overlaying the latest in technology for comfort and security.
$19,500,000 With Ed Kahl on duPont REGISTRY Homes.
No. 4 Most Expensive ZIP code: 07620
Median Home Price: $3,814,885
Located 15 minutes from Manhattan, this is a property that does not want to be missed. 7 bedroom suites, and 9 full and 2 half baths are just a small portion of the 21 room manor. At 14,000 square feet, no expense was spared with details such as a 2 story foyer, French limestone flooring, a 2 story great room, floor to ceiling windows, an all mahogany library, and a gourmet kitchen that is sure to please.
$14,750,000 With Marc Saperstein on duPont REGISTRY Homes.
No. 5 Most Expensive ZIP code: 10014
New York, N.Y.
Median Home Price: $3,785,445
3,468 SF 4 Bedrooms / 4.5 Baths This stunning, impeccably designed triple-exposure penthouse residence is one you can’t miss. Dramatic floor-to-ceiling glass walls offer unparalleled natural light and breathtaking views of Soho and Downtown Manhattan.
$9,975,000 With David Strout, East Egg Realty on duPont REGISTRY Homes.
No. 6 Most Expensive ZIP code: 90210
Beverly Hills, California.
Median Home Price: $3,684,150
Pristine estate behind gates on THE premier street in Trousdale Estates. 1st time on the market. Dramatic stone entry to massive living room, huge step down bar, open floor plan, and floor to ceiling walls of glass overlooking landscaped grounds, freeform pool and lighted tennis court. Soaring ceilings throughout.
$16,950,000 With Bob Hurwitz, Hurwitz James Company on duPont REGISTRY Homes.
No. 8 Most Expensive ZIP code: 94920
Median Home Price: $3,283,269
Stunning 7000 Sq. ft.Mediteranean Contemporary estate is located on two acres with breathtaking views of San Francisco and the Bay. Highest quality design and construction with grand rooms and individual lifestyle areas for casual indoor/outdoor living.
$5,995,000 With David Pfeiffer, Division Headquarters on duPont REGISTRY Homes.
To see the full list of America's Most Expensive ZIP codes, click here.