Palos Verdes Among Most Expensive ZIP Codes In SoCal, Nation: Study

PALOS VERDES, CA — Two Palos Verdes Peninsula ZIP codes are among the most expensive ZIP codes in Southern California and the nation for home buyers, according to a study released Wednesday.

According to the study by PropertyShark, a real estate investment reporting site, Palos Verdes Peninsula's 90274 ZIP code was the No. 21 of the 50 most expensive ZIP code in Southern California. A home buyer can expect to shell out $1,500,000 for a median priced home in 2016, according to the study. That's enough to rank Palos Verdes 74th out of the 100 most expensive ZIP codes in America, according to the report.

Meanwhile, in Rancho Palos Verdes' 90275 ZIP code, the median home price was $1,086,500, making it the the 43rd most expensive ZIP code in Southern California.

In order to determine which were the most expensive ZIP codes in Southern California, Property Shark looked at all residential transactions closed in 2016, taking into account condo, co-op, single- and the two-family homes.

Southern California is no stranger to exorbitant home prices. Los Angeles County claimed 33 spots in the top 50, with 11 ZIP codes located in the city of Los Angeles. Santa Monica’s 90402 is Southern California’s No. 1 most expensive zip code and it ranked fifth in the US. Beverly Hills’ famous 90210 is SoCal’s second most expensive zip code and seventh nationally.

Southern California real estate market has recovered quite nicely from the recession with median home prices hitting new highs. Home prices in Los Angeles County, in particular, are up 5.5 percent compared to the year-ago figure. In fact, the housing shortage and intense buyer interests are quickly pushing home prices into an unaffordable level.

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