Palm Beach's ZIP not that hot

By Dian Vujovich

Man, I thought 33480 was one of the toniest ZIP codes in the country and representative of a place where real estate prices were tops. Turns out that’s not the case— if you believe Forbes.

Nope, it’s Cal-if-orn-i-a where home prices rule and ritzy ZIP codes reign.

Want to live in the most expensive place in the country? Then it’s 91008 for you. Buy into it and you’ll be living in Duarte, CA., a burb northeast of downtown L.A. The median cost of a home there runs a breezy 4.28 million.

Altos Research collected the data for the Forbes listing of the 500 most expensive ZIP codes in the country. The firm looked at 20,000 ZIPs, ranked each according to the median asking price for single-family homes and condos then weighed the prices among the mix of homes in the market.

The top three priciest ZIPs in America include: Durate, with its 91008 ZIP— the price of a 10,486-square foot mansion is listed at nearly $4.7 million; No. 2 is 94027 and belongs to those living in Atherton, CA. where a 4,000-square foot ranch is listed under $4.6 million; and No. 3 is Rolling Hills, CA. where a 4300 square-foot home is listed under $3.9 million and comes with a 90274 ZIP.

Miami’s 33109 was listed as No.37. Median home prices there only $2,295,291.

Couldn’t find Palm Beach’s 33480 on the short list. I’m thinking somebody had to do some miscalculating. With two lots—no home on either— recently selling for $7.5 million each, you’d think it would rank right up there.

More at: http://tinyurl.com/2fkkrkp.