Montecito – The Zip Code of Wealth

Every year Forbes.com releases a list of the nation’s Most Expensive Zip Codes, and like clock work, Montecito’s 93108 makes the list in the top 20. Home to not just millionaires, but a healthy number of billionaires and celebrities who either call Montecito home or their favorite place to keep their vacation home. In 2013, Montecito ranked #17 on the Forbes list, with a median home price of $3,740,091. This year, with property values across the state of California slowly inching upward, Montecito comes in at #14 and $4,236,951.

Other than exceptional year-round weather in an incredible coastal location, what defines a wealthy zip code. Firstly, the neighbors. Montecito is a mingling of staggering mega-mansions, distinctive historic houses, expertly designed new constructions and quaint cottages. A cozy 2 bedroom home may rest adjacent to a 10,000sf manse. These large estates tend to rest on acres of superbly manicured grounds with lavish outdoor entertaining spaces – perfect for lounging in warm, Montecito sun. These large properties affect the values of every property in their vicinity – driving up the value regardless of size – and increasing the average property value.

Secondly, that million dollar view. Montecito can be found between the foothills of the Santa Ynez Mountain range and the Pacific Ocean. These higher elevations afford stunning views of both the mountains and the ocean. Some homes boast views so expansive, you can see the Santa Barbara harbor and the coastline to Ventura.

Next, the schools. Montecito is home to many of California’s finest primary schools. Montecito Union and Cold Springs schools regularly rank as two of California’s best public schools. Crane Country Day School, All Saints by the Sea, Music Academy of the West and Westmont College are all excellent private schools in the area. Being within the Montecito Union School district directly affects the price of a home when compared to homes which sit in neighboring districts.

Below, enjoy a few of the fantastic properties which have helped land Montecito’s 93108 make the Forbes list once again. For more information on each property, simply click the image…

This exceptional Standford White home circa 1895 is offered at $11,900,000

This exceptional Standford White home circa 1895 is offered at $11,900,000.

Expansive ocean views, a pool with lavish pool house and approximately 8,000sf of living space command a $13,695,000 price tag for this Montecito estate.

Expansive ocean views, a pool with lavish pool house and approximately 8,000sf of living space command a $13,650,000 price tag for this Montecito estate.

$9,250,000 will buy you a historic English Manor with ocean views and a location that allows for walking to restaurants, shops, luxury resorts and beaches.

$9,250,000 will buy you a historic English Manor with ocean views and a location that allows for walking to restaurants, shops, luxury resorts and beaches.

In a private, gated community, $2,195,000 will buy you a beautiful, flat 1.5 acre lot to build your dream home.

In a private, gated community, $2,195,000 will buy you a beautiful, flat 1.5 acre lot to build your dream home.

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