The most expensive ZIPs

Forbes

What's in a ZIP code? In this case, some of the priciest real estate in the country. From Atherton to Santa Barbara, California dominates the list -- though Beverly Hills 90210 is only No. 15.

By Forbes.com

From Beverly Hills to TriBeCa, from notorious enclaves of mansions and lush lawns to little-known niches of wealth, we looked at ZIP codes around the country to find the ones where home prices were the highest last year.

Many of these neighborhoods are rarified places, of course. They are close to beaches and golf courses and prime yacht moorings -- or at least within spitting distance of the power centers that are the sources of great wealth.

Thanks to their high tax bases, these areas also usually offer better schools, health care and public services -- not to mention such amenities as better exotic-car mechanics, caterers and gardeners. The homes are often proof of the good life, if not always good design. Penthouses and mansions abound, filled with the most expensive fittings, such as antique marble mantles, gunite pools and hand-painted hallways.

But there were some surprises. The list is testament to the costs of living in California, with half of our top 10 ZIPs in that state, and nearly two-thirds of our top 25. It's not such a shock when you consider that California home prices increased nearly 100% between 1999 and 2000, according to the U.S. Office of Federal Housing Enterprise Oversight (OFHEO). But the real-estate market in some locations has made a U-turn since the dot-com bust -- several of the most expensive places are in or very close to San Francisco and Silicon Valley. Meanwhile, the best known ZIP code in California, 90210, also known as Beverly Hills, ranked only No. 15.