Foster City Named One of the 500 Most Expensive Zip Codes in the Country

In a list released this week by Forbes.com, Foster City has been named one of the top 500 most expensive zip codes in America.

Foster City's 94404 zip code fell into the 491th spot on the list. The article reported that Foster City's median home price is $546,464, while the median household income is $92,989. Houses in Foster City stay on the market for an average of 81 days, according to Forbes.com.

San Mateo's three zip codes were spread across the list of 500.  The 94402 area was ranked #236, while 94403 was much further down at #433. However, the 94404 zip code shared by San Mateo with Foster City ranked a full 58 spots ahead of Foster City's 94404 area at #349.

Most nearby cities also made the list. Belmont came at #305, followed by  San Carlos at #336. Redwood City's 94062 zip code came in at #185 and Millbrae was ranked #291. Overall, Atherton (94027) was #2 and many other Bay Area cities filled a large amount of the list, along with New York and other states on the east coast.

Reactions among Foster City residents to the news that their hometown ranked among the most expensive places to live in America were mixed. 

"It makes sense," said Bill Manolis, a realtor with Manolis MV Properties who has lived in Foster City for three years. "It's one the few places in the area where the assessed value of homes has gone up. I'm paying more in taxes. You can't say that for a lot of places, especially in the East Bay."

"It surprises me," said Timothy McGovern, who has lived in Foster City for seven years. "But most us do pay a lot to live here."

Most residents agreed that Foster City is worth the price tag.

"There's nothing like it. If you were going to model a community off of anything, it would be Foster City. There's nothing like it," McGovern said.

Some lauded the convenience of the planned community; others emphasized Foster City's low crime rate.

"It's self-contained. You can spend two to three months here and never have to leave," McGovern said.

"We don't have to put chains on our locks," Manolis said. "Once you move here, you don't have go anywhere else. This is the most immaculate town in California."

Overall, Foster City residents feel that they get what pay for.

"It's like driving a Cadillac," said Sheik Zaatar, a Foster City resident since 2002. "If you get an Oldsmobile or a Volkswagen, you're going to get a rough ride. We've got a smooth ride."