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You know that we love to crunch the numbers with the best of them, so this blog post by Trulia caught our eye with it Home Price Range Index. While we looked at median home prices by neighborhood during Rookie Roosts Week, Trulia looked at similar data, but by ZIP code. The idea is that there are "upscale" neighborhoods with deals to be found and that some neighborhoods have similar pricing throughout, so you can expect comps to be, well, comparable, across a ZIP code.
When it comes down to it, we didn't find the results to be terribly surprising, at least when thinking about neighborhoods with a small range of prices: Bayview, Hunters Point, Portola, Excelsior -- all have housing stock built around the same time and in similar styles.
As for the largest range, that goes to northern neighborhoods - particular ZIP code 94133, which includes Fisherman's Wharf, North Beach and Russian Hill, "where the most expensive homes are 6.8x more expensive than the cheapest homes." Other northern zips including the Marina, Pacific Heights and the FiDi had the next largest ranges, but that's likely because zip codes are huge, and so neighborhoods like the Western Addition, Civic Center and Tenderloin are included. Of course when you compare the McAllister and Steiner to Clay and Laguna, you're going to get a large price range, where the most expensive home is 6.3x more expensive than the least expensive home.
Moral of the story: comps across ZIP codes don't always tell the story, especially in a city as diverse as ours.
· Not All Neighborhoods Created Equal [Trulia]
· Running the Numbers: Median Home Prices by Neighborhood [Curbed SF]