ENGEL & VÖLKERS NORTH AMERICA CREATES LIST OF THE MOST EXPENSIVE SUBURBS
We spoke with Anthony Hitt, CEO at Engel & Völkers North America, who provided further insight on the list and why people are drawn to suburbia.
Unique Homes: How did you go about creating this list? What was a starting point in terms of data analysis?
Anthony Hitt: Our research team began by looking into the top 10 most populated cities in the United States. Based on census data, they pulled together the top 10 most populated major cities, which is how the list is organized — beginning with the least populated major city and ending with the most populated major city. From there, our team identified the most expensive suburbs surrounding these major cities based on median home sales price.
UH: Are some of these suburbs more expensive to live in than their city counterparts?
AH: Actually, we found that all the suburbs on this list were more expensive than their city counterparts.
UH: I see that country clubs, golf courses and schools received a lot of mention as elements that draw people to these areas. What other qualities of these suburbs draw people in to live there?
AH: Proximity to key outdoor attractions is something that we have seen as an additional factor that draws people to these suburbs. For example, many buyers are drawn to Glencoe’s proximity to Lake Michigan and Cook County Forest Preserve. Buyers also find that the community of a suburb is a key factor in their decision, which is something we especially found true in Paradise Valley. Additionally, the atmosphere of a suburb can be a huge draw. In Rancho Santa Fe, we see many buyers drawn to the unique rural atmosphere as it does not even feature streetlights. Finally seclusion and privacy are also huge draws, which is why celebrities and notable figures are particularly drawn to Westlake and Bel Air.
UH: In your mind, do you see “suburbia” as growing? Do you find a lot of city clients moving to the suburbs?
AH: We haven’t seen a huge shift in the trend of “suburbia” growing, as it tends to vary region to region. What we do see is that when city residents begin to grow their families or wish to have more privacy or space, we see them moving to the suburbs.
10. San Jose, CA: Los Altos Hills
One of Silicon Valley’s most premier residential communities, Los Altos Hills has long attracted residents drawn to the area’s natural beauty, which includes rolling hills with views of the South and East Bay, rural atmosphere with graciously spaced homes and temperate climate. The town also features a unique Pathway System, 85 miles of trails and off-road paths that allow residents to explore the town via bike, foot or horseback.
Median home sales price: $3,450,000
9. Dallas, TX: Westlake
As the most expensive suburb of Dallas, Westlake is known for its beautiful open spaces offering picturesque views of the Dallas-Fort Worth area. The town is home to one of DFW’s most exclusive private clubs – the Vaquero Club – a hybrid of a golf course, country club, and a swanky gated neighborhood. Westlake also features an array of fine dining and boutique retail experiences in addition to sough after charter school Westlake Academy and several corporate campuses including Deloitte University, a 750,000 square-foot learning and leadership development center.
Median home sales price: $2,000,000
Photos Courtesy Engel & Völkers
8. San Diego, CA: Rancho Santa Fe
Located just four miles from the ocean, Rancho Santa Fe draws in residents with its temperate climate that is unmatched by anywhere on the California coast. A distinguishing feature of the town is the renowned Rancho Santa Fe Gold Club – known as one of the finest walkable designs in the world and named one of the top 20 best golf venues by Golf Digest Magazine. The town’s close proximity to San Diego offers a variety of coastal and mainland activities for residents to enjoy such as The Rancho Santa Fe Art Guild in addition to the top schools, retailers and restaurants within the area.
Median home sales price: $2,119,000
Photos Courtesy Engel & Völkers
7. San Antonio, TX: Terrell Hills
Terrell Hills is just five miles from downtown San Antonio, one of the most culturally rich suburbs in southwest Texas. The area features many of San Antonio’s famous attractions such as the Witte Museum, Broadway Street, The Riverwalk and the San Antonio Country Club which is one of the city’s most prestigious and historic private clubs well known for golf, tennis, fine dining and events.
Median home sales price: $1,322,497.00
6. Phoenix, AZ: Paradise Valley
Cradled by Camelback Mountain, Phoenix Mountain Preserve and McDowell Mountains, Paradise Valley is a town with unique character. The town enjoys 294 days of sunshine to accompany the seemingly endless number of must-see attractions and activities including professional sporting events, hiking, world-class golf, shopping at Paradise Valley Mall and luxury getaways at one of the area’s nine resorts such as the luxurious Sanctuary Resort. Paradise Valley also boasts one of Arizona’s best restaurants, El Chorro, a historic dining destination featuring stunning views of Camelback Mountain.
Median home sales price: $1,100,000
Photos Courtesy Engel & Völkers
5. Philadelphia, PA: Bryn Mawr
Just 10 miles outside of Philadelphia, Bryn Mawr (which means Great Hill in Welsh) is located in an area known as the Main Line, a group of affluent suburban villages. Bryn Mawr residents enjoy plentiful green space, high-end restaurants (Restaurant Cerise and Bertucci’s to name a couple) and boutiques and are near distinguished public schools, private schools and colleges including Rosemont College, Bryn Mawr College, Villanova University and Saint Joseph’s University.
Median home sales price: $ 760,292
4. Houston, TX: Southside Place
This charming, upscale community features only one neighborhood and spans a mere 10 blocks, making it an exclusive escape from bustling Houston. The area is notably family-friendly with its exceptional public schools, lavish pools and parks, and an abundance of sprawling single-family homes.
Median home sales price: $1,252,628
3. Chicago, IL: Glencoe
A quaint community removed from the hustle and bustle of the big city, Glencoe is just 20 miles north of Chicago. The Village of Glencoe is bordered by Lake Michigan, the Cook County Forest preserve, the Glencoe Golf Course and features an abundant of parks and green spaces, excellent schools and has one of the most attractive business districts along the North Shore. Many of the homes in Glencoe feature stunning views of Lake Michigan.
Median home sales price: $1,300,000
2. Los Angeles, CA: Bel Air
The backdrop and setting for countless television shows and home to notorious A-listers including Kim Kardashian and Jennifer Aniston, this affluent enclave on the west side of Los Angeles is one of the most exclusive and secluded communities in the United States. Tucked beneath the foothills of the Santa Monica Mountains, the area’s quaint tree-lined streets and sprawling estates that resemble works of art make Bel Air a luxurious respite from lively Los Angeles.
Median home sales price: $3,450,000
1. New York, NY: Bronxville
One of Westchester County’s most alluring and pricey suburbs, Bronxville continues to be a recurring choice for the wealthy. Located along the Bronx River only 15 miles from the city, Bronxville is a village with a storied history and charming close-knit neighborhoods with fine dining establishments such as Underhills Crossing and Park 143 Bistro & Fish, boutique shops and renowned collegiate offerings including Sarah Lawrence College, one of the nation’s best liberal arts colleges.
Median home sales price: $2,325,000
