That's a good question. Zip codes are zip codes....right? Basically in comes down to the desirability of the area/neighborhood.....or zip code. Yet even within a specific zip code there will be areas/neighborhoods that are more or less expensive. Factors that influence prices in a certain area/neighborhood include: Size,design and quality of original homes and how neighborhood is laid out. Are there parks, schools, shopping, transportation within walking distance or hearby? What type and how nice are the schools, parks, shops, etc? What percentage of properties are rentals? Rental properties are in general not as well kept, therefore a neighborhood might not look as nice if it has a higher percentage of rental homes
An interesting fact: As a general rule of thumb, in San Mateo (and other cities on the Peninsula) there are certain boundary lines that separate neighborhoods, tracts of housing. When you cross one of these "boundaries"....prices go up (or down). The boundary lines I speak of are Hwy 101, El Camino Real and Alameda de las Pulgas. The least expensive homes (generally) are on the East side of Hwy 101. The homes situated west of Hwy 101 and east of El Camino are more expensive than east of Hwy 101. Go west of the El Camino and the homes are generally priced higher......and the same is true with The Alameda.
If you haven't already done it.....drive through the South Shoreview neighborhood (east of Hwy 101)...just cruise the streets. Then drive through the Sunnybrae, Fiesta Gardens neighborhood or San Mateo Village. You'll note a difference in the "feel" of all of these neighborhoods. Look at the streets, the homes and how they're kept. You'll then know why prices are different. I hope this help you!