In 2025, Atherton, California, once again claims the title of the most expensive place to live in the state—and the entire United States. This exclusive enclave in San Mateo County boasts a median home value of $7.71 million, solidifying its status as the pinnacle of luxury living .
A Town of Wealth and Exclusivity
Nestled just 30 miles south of San Francisco and adjacent to Silicon Valley, Atherton is home to a population of approximately 7,188 residents . The town’s allure lies in its expansive estates, tree-lined streets, and a commitment to preserving a serene, residential atmosphere. Notably, Atherton enforces strict zoning regulations, permitting only one single-family home per acre in new subdivisions .
The absence of commercial zoning means there are no restaurants, shops, or grocery stores within town limits, further enhancing its tranquil environment. This exclusivity has attracted a host of affluent individuals, including tech magnates and celebrities. For instance, Golden State Warriors star Stephen Curry purchased a $31 million estate in Atherton in 2019 .
The Price of Prestige
Atherton’s median home value of $7.71 million places it at the top of the nation’s most expensive ZIP codes . This figure surpasses other high-end California locales such as Beverly Hills’ 90210 ($5.48 million) and Los Altos’ 94022 ($4.9 million) .
The town’s high property values are a reflection of its desirability among the ultra-wealthy, drawn by its proximity to major tech companies, privacy, and stringent land-use policies. These factors contribute to a real estate market where demand consistently outpaces supply, driving prices ever higher.
Challenges Amidst Affluence
While Atherton’s exclusivity is a significant draw, it also presents challenges, particularly concerning housing diversity and affordability. In 2022, the town faced criticism for blocking a proposal to build 131 multifamily housing units, highlighting tensions between preserving the town’s character and addressing broader housing needs .
California Governor Gavin Newsom singled out Atherton for its restrictive housing policies, emphasizing the need for communities to contribute to the state’s housing solutions . Despite the passage of SB 9 in 2022, which aimed to ease zoning restrictions, Atherton’s commitment to maintaining its low-density, single-family home model remains steadfast.
Atherton in the Broader Context
Atherton’s status as the most expensive place to live in California underscores the broader economic dynamics of the Bay Area. Cities like San Jose, San Francisco, and Oakland also feature prominently among the state’s priciest locales, with high costs of living driven by housing expenses .
For those seeking more affordable options within California, regions like the Central Valley offer lower housing costs, though often with trade-offs in terms of amenities and utility expenses .
Conclusion
Atherton’s blend of exclusivity, strategic location, and commitment to preserving its residential character continues to make it the most expensive place to live in California. As debates around housing affordability and diversity persist, Atherton stands as a symbol of the complexities inherent in balancing luxury living with broader societal needs.
