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Editor: Stephen Clowney
Univ. of Arkansas, Fayetteville

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Wednesday, July 9, 2014

The Bay Area is Just a Giant Gated Community

The Atlantic Cities blog has a breezy piece about the zip codes with the highest median housing prices:

In the Bay Area, however, housing has become so expensive that much of the middle class has been effectively priced out of home-ownership. Forty-four ZIP codes have median home values above $1 million, just nine have median home values below $300,000, and not a single ZIP code has a median home value below $200,000. In neighboring San Jose, just one of the metro’s 59 ZIP codes had a median home value below $400,000.

The larger picture:

Overall, 33 ZIP codes have median home values of more than $2 million. Nearly all of these were located in the New York, Los Angeles, San Jose, or San Francisco metro areas, with 10 each in the New York metro and the combined San Francisco-San Jose Bay Area. There was one each in Boston, Miami, Santa Barbara, and San Diego.   

Another 201 ZIP codes had median home values of more than $1 million. A whopping three-quarters of these were in just three coastal areas: New York, Los Angeles, and the San Francisco Bay Area. The Bay Area had the largest number, with 60 ZIP codes with median home values of more than $1 million: 44 in San Francisco and another 16 in San Jose. Another 52 were in greater New York, spanning both Manhattan and some second-home enclaves of the Hamptons. And 39 more were in Los Angeles and Orange County. The rest are in places like Boston, San Diego, and Stamford, Connecticut.

http://lawprofessors.typepad.com/property/2014/07/the-bay-area-is-just-a-giant-gated-community.html

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