Zip Codes with Rich People

[MoneyCat]

MoneyCat, Congrats on your success.  Your comment was very interesting and really got me thinking.  What are the zip code scores that correspond to various classes?  For example, a 50 should logically correspond to the middle of the middle class. I live on the boundary of 93-96, and one might say that should be upper class, but it is really well-off middle class.  Almost nobody went to the Ivy League, almost everybody is an employee, I think most people's greatest wealth is their house, I don't think anybody has a high level of access to a Congressman, etc.

Thanks!  I should mention that the cost of living in the state where I live now is rather high, so higher incomes don't necessarily mean more wealth for most people who live here.  Of course, many of them are also anti-Mustachian, so they bring a lot on themselves by leasing luxury cars, paying for in-ground swimming pools (and paying higher property taxes as a result) when we have a perfectly good municipal swimming pool, paying for cable TV or satellite TV when we can get over a dozen stations over the air for free, driving for grocery shopping instead of riding a bike when the neighborhood is less than a mile from shopping areas, etc.  The property taxes are high here, but I am doing pretty well on a less-than-average salary for the area just by being anti-materialist.

[prodarwin]

I moved from a 99 (nova) to a 65.  Its amazing how many people I know in the DC area that spend recklessly, yet still have a very high net worth just due to the crazy speed at which real-estate increases in value.  I agree it can be a fantastic place to build up your net worth.

[judgemebymyusername]

Thanks for posting this link. I love my current location and wouldn't change it for the world.

I live in an 89, with $85k median household income, yet the homes in my area are under 10 years old and are still in the $110-$150k price range. There's not too many places where you can buy a home for less than 2x your yearly income and live in a great neighborhood with great schools and jobs.

[chasesfish]

Thanks for posting this link. I love my current location and wouldn't change it for the world.

I live in an 89, with $85k median household income, yet the homes in my area are under 10 years old and are still in the $110-$150k price range. There's not too many places where you can buy a home for less than 2x your yearly income and live in a great neighborhood with great schools and jobs.

+1.  I live in a high 80's area and a $180k home price with good schools and jobs.  It is funny to observe the reckless spending of the mass affulent though, chain restaurants and aspiring affluent retail everywhere.

[yahui168]

I think the superzips would look a lot different if they defined rich by assets instead of income.

[yahui168]

I found a map of median incomes and the differences for a city like San Francisco are astounding. The majority of San Francisco zips are top 20% for income but it seems over 50% have median or lower networth. Only a very small cluster of San Francisco have a networth over $288k! The average rent for one bed, one bath is $3400/mo.

http://www.arcgis.com/home/webmap/viewer.html?useExisting=1&services=814b785f25e24c9d8fc1a61ea61c0462

[theglidd]

I live in a 99% super zip. Basically all the homes were built during the 1950s but are slowly being torn down for McMansions. We bought our place for $550,000 just 3 years ago and the larger houses 2 blocks away are selling for 2+ million.

I actually think we got lucky buying the little 1950s home we did. Great public schools, small restaurants, very walk-able/bike-able.

I do see a lot of you saying that people in these zip codes probably live in debt. But I think its just like any other neighborhood. Some people are careful with money, others aren't.

[oldtoyota]

I live in a 99% super zip. Basically all the homes were built during the 1950s but are slowly being torn down for McMansions. We bought our place for $550,000 just 3 years ago and the larger houses 2 blocks away are selling for 2+ million.

I actually think we got lucky buying the little 1950s home we did. Great public schools, small restaurants, very walk-able/bike-able.

I do see a lot of you saying that people in these zip codes probably live in debt. But I think its just like any other neighborhood. Some people are careful with money, others aren't.

I thought about buying a home in a DC-area 90+ zip for around $550K. At that price, you can imagine how old it was. lol Actually, it was not bad, but I decided not to get serious about it. The other homes in that 'hood are going for $600K+ to $1MM now.

[Carrie]

You're exactly right, theglidd.  Our zip isn't a super zip, but it is very close at a 94 (highest in our state, though).  I looked at the average net worth linked above, and my area has an average net worth of $501,000.  So, obviously, not everyone in the area is living beyond their means.  I'm also proud to say that we, just this year, became average for our area!!! (Never really aspired to be average, but in a nearly-super-zip, I'll take average!)

I like my nearly-super-zip because the schools are great, crime is low, lots of professionals w/college educations.  It helps that we chose the reasonable neighborhood (purchased our 2300sf 4br3ba for $230,000 as opposed to the houses across the street that are 3000+sf for $450k++++).  We are living well within our means and don't let the spendthrift community influence our activities or purchases.

[TheDude]

Awesome map. I live in a 45 right next to a 91. Oh Boulder County how I love you. I wish they had a more history. I t would be fascinating to see how zip codes have changes over the years. My 45 is getting more expensive because you educated kids who work in Boulder cant afford to live there.