Los Altos Hills

Los Altos Hills (Photo credit: Changhua Ji)

Los Altos Hills Named Wealthiest City In America

Megan Goldsby
June 05, 2018 - 3:40 pm

LOS ALTOS (KCBS Radio) - There's a new wealthiest town in the Bay Area, in fact in the entire county. KCBS Radio's Megan Goldsby reports that's according to a new analysis by the financial news and opinion site 24/7 Wall Street.

Silicon Valley's Los Altos Hills. "A nice piece of dirt to start from scratch starts at around $5 million." Nicholas French is a real estate broker associate in the Los Altos Hills area. For a lot of people, the area is convenient to all the tech companies like Tesla, Facebook, Google and many more and the paychecks are proving it.

The analysis says the median annual income of one of the just over 8,000 people who live there is more than $243,000.

"We hear a lot about the semi-rural feel because we are in the foothills in Silicon Valley," Deborah Patterson is the city clerk says. "I think that is appealing to a lot of people to come here and have a more or less urban feel. As opposed to San Jose or San Francisco."

It is one of only five cities in the country where more than half of the homes are worth at least $2 million.