Palo Alto ZIP Code Among Richest In US: Bloomberg

PALO ALTO, CA – Palo Alto is home to one of the richest ZIP codes in the country, according to a new report by Bloomberg. The report ranks Palo Alto's 94301 ZIP code No. 4 when it comes to the wealthiest communities in the U.S. and No. 2 among ZIP codes in the West. The median price of a home in the 94301 ZIP code is $3.83 million, according to Bloomberg, which used real estate figures for 2017-2018 to compile the rankings. Residents of the Palo Alto ZIP code earn an average adjusted gross income of $1.17 million, according to a Bloomberg analysis of 2015 Internal Revenue Service data.

Palo Alto's neighbor, the Silicon Valley city of Atherton on the San Francisco Peninsula, is home to the richest ZIP code in the West, 94027, Bloomberg says. Atherton claimed the second-place spot on the national list.

The richest ZIP code in the country, 33109, belongs to Fisher Island, located off the coast of Miami, Florida. The island had an average income of $2.5 million in 2015.

Elsewhere in the Bay Area, San Francisco's 94111 ZIP code is the fourth-richest among western states and rounds out the top 10 on the national list.

The Palo Alto ZIP code claims another spot on Bloomberg's rankings. According to the report: "the ZIP code that took the most advantage of tax deductions in 2015 was 94301 in Palo Alto, California, where the average deduction was $491,600."

Click here to read the full report.

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