A Small Town In Silicon Valley Named America's Most Expensive Zip Code
Small but terrible - that's what Atherton, California is in terms of its place in real estate. The small town apparently is home to several big names which explain why its real estate market is filled with big price tags, Madeline Stone of Business Insider reports.
Situated in the heart of Silicon Valley with Palo Alto and Menlo Park in its borders, Atherton houses some of the biggest names and noted tech billionaires in the industry, including Paul Allen who co-founded Microsoft, Eric Schmidt, chairman of multinational technology company Google, and Meg Whitman of giant technology corporation HP. It also used to be the home for Facebook COO Sheryl Sandberg prior to her move to Menlo Park in 2013 in a waterfall-equipped home.
For three straight years, Atherton bags Forbes most expensive zip code in America including the one awarded just this November. Findings of Altos Research, a firm based in Mountain View, show that Atherton's median listing price is currently at $10.66 million, which is the highest of any zip code anywhere in the entire country.
This was further proven by RentCafe's recent survey which confirms Atherton's ranking at the top of Silicon Valley's booming real estate market. Based on the firm's survey results, there are a total of 26 ultra-luxury listings found in the small town of Atherton, where 10 of those rent for more than $10,000 a month and the remaining 16 got listed for not less than $10 million.
Los Altos, Silicon Valley's second-hottest luxury real-estate, loses to Atherton by 11 listings.
Here's the complete list of Silicon Valley's Top 10 ultra-luxury properties for sale and for rent based on RentCafe's survey:
2. Los Altos Hills
5. Palo Alto
6. Menlo Park
7. Portola Valley
9. Los Gatos
10. Los Altos