Montecito Named in Top 10 Most Expensive U.S. Zip Codes

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By edhat staff

Montecito has been named 7th in the top ten most expensive zip codes in the United States.

For the first time in history, the country's top ten most expensive zip codes all have median home prices of more than $4 million, according to a report from Property Shark. Thirty of the top 100 priciest zip codes have median prices of over $3 million, more than twice the number of areas at that price last year.

Santa Barbara County's 93108 zip code includes Montecito and a small section of the city of Santa Barbara. The median home sale price in 2021 is $4,103,000, following a 40% pricing jump year over year, according to the report.

The county also received special mention for increasing its list presence from just one zip code in 2020 to five in 2021. Summerland's 93067 zip code ranked 48th with a median home price of $2.19 million, followed by Santa Barbara's West Beach and Mesa 93109 zip code ranked 81st with a $1.805 million price tag, then Santa Barbara's Riviera and Eastside zip code of 93103 at 90th place for $1.682 million, and lastly Santa Barbara's Hope Ranch area of 93110 at 95th place at $1.65 million.

The number one spot was granted to Atherton, California outside Silicon Valley for the fifth year in a row with a median home price of $7.5 million. The number two spot was claimed by Boston, MA followed by Sagaponack, NY then Ross, CA, Miami Beach, Beverly Hills, and Montecito at seventh. 

The country's 100 most expensive zip codes are located in ten states with 70% from California. The Bay Area claims 47 of nation’s most exclusive zip codes while Los Angeles County remains the priciest county with 21 entries.

Read the full report at propertyshark.com

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RHS Nov 20, 2021 06:11 PM
Montecito Named in Top 10 Most Expensive U.S. Zip Codes

Bizarre thought. Both these schools are excellent. The taxes are controlled by Prop 13. They get state school money which they supplement with other contributions. No one in Montecito is complaining that the elementary schools are too expensive. Try comparing them to the private ones and see what it cost at those places.

pstarSR Nov 21, 2021 09:37 AM
Montecito Named in Top 10 Most Expensive U.S. Zip Codes

School funds are very closely tied to property taxes for the area. SO YEAH montecito has some NICE schools. Hope ranch does too. My Mother worked for one, and saw exactly how it affected the school. its not all cherry's and rainbows. all those rich stay at home business's "people". stick their noses into the schools constantly. canceling art classes and extra ciricular because it doesnt "fit" their childs "plan".

really shows the separation of property value to education. If you live in a nice house, you get a nice school........but it isnt always perfect.

Thomas John Nov 21, 2021 10:14 AM
Montecito Named in Top 10 Most Expensive U.S. Zip Codes

I wonder what percentage of houses are still controlled by Prop 13? That law was passed over 40 years ago so I'd assume most folks with k-12 aged kids bought their houses afterwards.

Byzantium Nov 20, 2021 08:44 PM
Montecito Named in Top 10 Most Expensive U.S. Zip Codes

Clarification: property sales prices jump when purchasing homes within those school districts, compared to similar homes outside these coveted school districts. There is no extra change to attend either public school, which I assume are uniquely basic aid schools so they are well funded per pupil.. Additional costs however can attach for specific parcel taxes and bond issues to property ownership in these school districts. Choice of the voters in these districts.

Byzantium Nov 21, 2021 10:50 AM
Montecito Named in Top 10 Most Expensive U.S. Zip Codes

Prop 13 property tax protection is yet again under assault - proposed split-roll again to be placed the ballot and this time including single family homes over $4million dollars, as well as all commercial properties. Therefore much of Montecito would be affected by loss of Prop 13 home ownership protections, which are still in place. Prop 13 taxation formula gets re-set with each new sale. So are you asking how many Montecito properties still retain their original 1970's tax assessment? Good question. Tax assessors office can give you this information. Please also remember, Prop 13 went hand in hand with Prop 98- passed only a few years later which automatically sends 50% of all state general revenues to public schools. (K-14) Schools have not been underfunded since Prop 98 passed; the rest of the state taxpayer funded programs are the ones who have to scramble every year, but not schools. Voters cared enough about public education in this state to make them the protected number one funded item in the state budget. Getting only a nationally-ranked bottom 10% public education system in this state, in return for this overwhelming public funding support has been an excruciating disappointment since the Prop 98 school funding guarantee passed. Voters need demand more in return. And understand the reasons why. 50% of all state general funding and getting only a #45 ranked schools system in response is unacceptable. No one should tolerate this. Having ll CSU state teacher training programs flunk peer review is equally unacceptable. This falls on our state legislator's shoulders. Do better, voters.

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