Top 100 Most Expensive Zip Codes in US by Forbes in 2013-Rank no.16-90274, Rolling Hills, CA

Rank no.16-90274, Rolling Hills, CA

ABOUT ROLLING HILLS

90274, Rolling Hills, Calif.
Median home price: $3,972,500
Median price change: 76.6%
Average days on market: 124
Inventory: 61
Population in 2012: 1,886 (100% urban, 0% rural).
Population change since 2000: +0.8%

Males: 902 (47.8%)
Females: 984 (52.2%)

Rolling Hills is a very small city located in the state of California. With a population of 1,874 people and just one neighborhood, Rolling Hills is the 631st largest community in California.

Rolling Hills home prices are not only among the most expensive in California, but Rolling Hills real estate also consistently ranks among the most expensive in America.

Rolling Hills is a decidedly white-collar city, with fully 98.98% of the workforce employed in white-collar jobs, well above the national average. Overall, Rolling Hills is a city of professionals, managers and sales and office workers. There are especially a lot of people living in Rolling Hills who work in management occupations (25.10%), healthcare (22.42%) and sales jobs (10.06%).

One interesting thing about the economy is that relatively large numbers of people worked from their home: 10.88% of the workforce. While this number may seem small overall, as a fraction of the total workforce this is high compared to the rest of the county. These workers are often telecommuters who work in knowledge-based, white-collar professions. For example, Silicon Valley has large numbers of people who telecommute. Other at-home workers may be self-employed people who operate small businesses out of their homes.

Rolling Hills is a good choice for families with children because of several factors. Many other families with children live here, making it a place where both parents and children are more likely to develop social ties with other families. The city’s good public school district and large population of college-educated adults provide an environment conducive to academic success. Many people own their own single-family homes, providing areas for children to play and stability in the community. Finally, Rolling Hills’s overall crime rate ranks among the lowest in the country, making it one of the safest places to raise a family.

In Rolling Hills, however, the average commute to work is quite long. On average, people spend 30.62 minutes each day getting to work, which is significantly higher than the national average.

Rolling Hills Information and Demographics

Do you have a 4-year college degree or graduate degree? If so, you may feel right at home in Rolling Hills. 69.87% of adults here have a 4-year degree or graduate degree, whereas the national average for all cities and towns is just 21.84%.

The per capita income in Rolling Hills in 2010 was $128,300, which is wealthy relative to California and the nation. This equates to an annual income of $513,200 for a family of four.

Rolling Hills is a very ethnically-diverse city. The people who call Rolling Hills home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Rolling Hills residents report their race to be White, followed by Asian. Important ancestries of people in Rolling Hills include German, English, Irish, European, Italian and Russian.

Foreign born people are also an important part of Rolling Hills’s cultural character, accounting for 21.17% of the city’s population.

The languages spoken by people in Rolling Hills are also diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in Rolling Hills is English. Other important languages spoken here include Spanish, Korean, Chinese and Japanese.

Another posh bedroom community, Rolling Hills, Calif., is the only city on the list that is a private, gated community in and of itself. The small city with a median home price of nearly $3.9 million sits atop the Palos Verdes Peninsula, a short drive southwest of downtown Los Angeles [source: Forbes].

The equestrian-themed community has about 50 miles (80 kilometers) of named horse trails, though the city itself is only about 3 square miles (nearly 8 square kilometers) in size. With a full-time staff of only four, Rolling Hills also has no public infrastructure [source: Rolling Hills]. The rich who live here have two things in common: big homes and horses. Like many other ZIP codes on this list, Rolling Hills is strictly residential; there’s no industry or manufacturing, and homeowners do all their shopping outside the gated city.

2013 First Half Palos Verdes homes sales for the city of Rolling Hills increased to 17 single family homes sold compared to 9 homes sold in the first half of 2012. Price per square foot for Rolling Hills houses that sold in the first half of 2013 increased 0.5% to $655 from $652 for the same time period last year. Average sales price for Rolling Hills homes sold in the first half of 2013 decreased to $2,360,265 compared to $2,510,278 for the first half of 2012. The most expensive home sold for $3,760,000 and the lowest priced home sold for $1,100,000.

Currently, the Rolling Hills neighborhood has 13 Palos Verdes homes for sale. There are 13 single family homes ranging from $1,999,000 for a 3 bedroom, 3 bath, 2,257 square foot home to $53,000,000 for a 9 bedroom, 25 bath, 50,000 square foot home.

The Most Expensive House In Palos Verdes

I have had several questions about the new $53,000,000 Palos Verdes home for sale. Nearly a month ago, LA Times had an article about this $53,000,000 Palos Verdes home located in the City of Rolling Hills. This is big news for Palos Verdes as the most expensive home sold to date was on Crest Road also in Rolling Hills that sold in 2007 for $12,900,000; it was on the market for 16 days!

Lauren Beale wrote a very descriptive article about the home itself and the building of the home (click here to read the entire LA Times article). The nearly 50,000 square foot house is six stories with 5 of those stories being underground as the City of Rolling Hills only allows one story homes (that must be painted white). The nearly 8-acre property includes a guesthouse, an olive tree grove, an apartment/garage wing, a reflecting pool, a boccie court and a swimming pool with 180-degree views of Los Angeles and Santa Monica Bay coastline. The 9 bedroom, 25 bath home has two elevators, a wine cellar, a five story indoor tennis court and a 10,000 square foot hamman (Turkish bath) complete with refreshment rooms, tubs, steam room, massage shower and indoor swimming pool.

Lauren Beale quotes the owner’s reason for selecting Rolling Hills as the site to build his home which is called Hacienda De La Paz – “Of the two most dramatic spots on the California coast, the Monterey Peninsula and here, this is grander.” The Palos Verdes Peninsula “has life” and unlike the Westside, it’s not congested. I couldn’t agree more. I think our secret may be out.

I would love to see this house and have been waiting for the home to have a Broker’s Open House – nothing yet. I am pretty sure it would make my Top Tuesday Tour pick! Marcie Hartley of Hilton & Hyland/Christie’s International Real Estate is the listing agent.

PRICE RANGE

The 90274 zip code has some of the more expensive homes in the state with a median home value of $1,200,000 and a current average list price of $1,692,112. The 90274 zip code market pulled back this week but remained above average levels as sales slid 5.9% to 32 homes sold over the last 30 days.

Estimated median household income in 2011: over $207,899 (it was over $200,000 in 2000)
Rolling Hills: over $207,899
California: $57,287
Estimated per capita income in 2011: $120,934

Rolling Hills city income, earnings, and wages data

Estimated median house or condo value in 2011: over $858,458 (it was over $1,000,000 in 2000)
Rolling Hills: over $858,458
California: $355,600
Mean prices in 2011: All housing units: $1,147,508; Detached houses: $1,146,313; Townhouses or other attached units: $1,250,000

Median gross rent in 2011: $2,001.
Mar. 2012 cost of living index in Rolling Hills: 146.4 (very high, U.S. average is 100)
Median real estate property taxes paid for housing units with mortgages in 2011: $10,001 (1.0%)
Median real estate property taxes paid for housing units with no mortgage in 2011: $6,838 (0.7%)
Single-family new house construction building permits:
1997: 1 building, cost: $631,000
1998: 2 buildings, average cost: $415,500
1999: 3 buildings, average cost: $487,300
2000: 1 building, cost: $650,000
2001: 2 buildings, average cost: $547,700
2002: 3 buildings, average cost: $547,700
2003: 2 buildings, average cost: $547,700
2004: 0 buildings

Detailed information about poverty and poor residents in Rolling Hills, CA

Rolling Hills compared to California state average:

Median household income significantly above state average.
Median house value significantly above state average.
Unemployed percentage significantly below state average.
Black race population percentage significantly below state average.
Hispanic race population percentage significantly below state average.
Median age above state average.
Renting percentage significantly below state average.
Length of stay since moving in above state average.
Number of rooms per house significantly above state average.
Percentage of population with a bachelor’s degree or higher significantly above state average.

Rolling Hills on our top lists:

#3 on the list of “Top 100 cities with highest median house value”
#4 on the list of “Top 100 cities with highest median household income”
#7 on the list of “Top 101 cities with largest percentage of males in occupations: Judges, magistrates, and other judicial workers”
#7 on the list of “Top 101 cities with largest percentage of males in occupations: Management, professional, and related occupations:”
#19 on the list of “Top 101 cities with largest percentage of males in occupations: Engineers”
#21 on the list of “Top 101 cities with high-earning residents located near cities with low-earning residents”
#22 on the list of “Top 101 cities with largest percentage of males working in industry: Health care”
#24 on the list of “Top 101 cities with largest percentage of females in occupations: Management, professional, and related occupations:”
#38 on the list of “Top 101 cities with largest percentage of females in occupations: Computer and mathematical occupations:”
#45 on the list of “Top 101 cities with largest percentage of females in occupations: Judges, magistrates, and other judicial workers”
#48 on the list of “Top 101 cities with largest percentage of males working in industry: Real estate and rental and leasing”
#50 on the list of “Top 101 cities with largest percentage of females working in industry: Private households”
#57 on the list of “Top 101 cities with largest percentage of females working in industry: Miscellaneous durable goods merchant wholesalers”
#60 on the list of “Top 101 cities with the highest ratio of murders to rapes between 2001 and 2006”
#63 on the list of “Top 101 cities with largest percentage of males in occupations: Architects, surveyors, and cartographers”
#67 on the list of “Top 101 cities with the most Native Hawaiian and Other Pacific Islander residents”
#68 on the list of “Top 101 cities with the greatest tornado activity”
#69 on the list of “Top 101 cities with largest percentage of females in occupations: Legal occupations:”
#82 on the list of “Top 101 cities with the highest cost of living”
#83 on the list of “Top 101 cities with largest percentage of females working in industry: Machinery, equipment, and supplies merchant wholesalers”

#52 (90274) on the list of “Top 101 zip codes with the highest 2004 average reported profit/loss from business (pop 5,000+)”
#79 (90274) on the list of “Top 101 zip codes with the largest percentage of Zairian first ancestries”
#80 (90274) on the list of “Top 101 zip codes with the largest percentage of Iranian first ancestries (pop 5,000+)”
#81 (90274) on the list of “Top 101 zip codes with the highest 2004 average Adjusted Gross Income (AGI) for individuals (pop 5,000+)”
#86 (90274) on the list of “Top 101 zip codes with the largest percentage of taxpayers reporting net capital gain/loss in 2004 (pop 5,000+)”
#92 (90274) on the list of “Top 101 zip codes with the highest average reported salary/wage in 2004 (pop 5,000+)”
#99 (90274) on the list of “Top 101 zip codes with the largest percentage of taxpayers using charity contributions deductions in 2004 (pop 5,000+)”

#1 on the list of “Top 101 counties with the highest Ozone (1-hour) air pollution readings in 2005 (ppm)”
#3 on the list of “Top 101 counties with the highest carbon monoxide air pollution readings in 2005 (ppm)”
#3 on the list of “Top 101 counties with the highest Ozone (8-hour) air pollution readings in 2005 (ppm)”
#5 on the list of “Top 101 counties with the highest Nitrogen Dioxide air pollution readings in 2005 (ppm)”
#8 on the list of “Top 101 counties with the largest number of people moving out compared to moving in (pop. 50,000+)”

90274, Rolling Hills, CA

27 Crest Road
List Price: $13 Million
Listed With: Ewing & Associates Sotheby’s International Realty
Median Home Price for Zip Code: $2,040,619

This ranch-style compound comes with a gaming room, an indoor pool with retractable roof and wet bar and parking for up to 30 cars.
Source: Sotheby’s International Realty