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The Real Deal Los Angeles

A quarter of the country’s million dollar zip codes are located in SoCal: report

July 05, 2017 02:15PM

Beverly Hills

Where does the other half live? Southern California, apparently.

The Southland is home to close to a quarter of the country’s million-dollar housing communities, according to Realtor.com data.

More than 400 zip codes in the region have a median listing price of $1 million or more, Pasadena Star News reported. The area also contains nine of the country’s priciest 25 zip codes.

Los Angeles County contains the greatest quantity of million dollar zip codes, with 48 total. Next up is Orange County, which has 18; San Diego County, which has 15; and Santa Barbara and Ventura counties, which have 12.

California, as a whole, contains 159, or 40 percent, of the country’s seven-figure zip codes.

But what exactly does owning a million-dollar mean these days? Not much, according to a Realtor.com researcher.

“Million has become a new benchmark,” Javier Vivas told the Star News. “In many markets, you’re not getting a luxury product, just a very nice, mid-sized home.”

Makes sense, considering L.A. was recently named the most unaffordable city in America for renters and buyers. [PSN]Cathaleen Chen