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The city was incorporated on September 3, 1973. The population was 21,643 at the 2010 census. In 2014, "Money" magazine named Rancho Palos Verdes as one of the most expensive housing markets in the United States. Rancho Palos Verdes is a part of the Gateway Cities Council of Governments and is made up entirely of single-family homes with no commercial zoning and very few multi-family dwellings (apartments or condominiums). A small retail corridor near Marine Avenue includes restaurants such as Starbucks and Pita Pit; there are also two gas stations along that street's stretch through town.