Where Are the Most Expensive ZIP Codes in the U.S.? MABA MassachusettsRealEstate FirstTimeHomeByers MaBuyerAgent

 It’s been a year of cautious growth for luxury real estate, so it’s the perfect time for PropertyShark to come up with a list of the 100 most expensive zip codes in America.

 And the winner is … Atherton, California (again). Located just north of Menlo Park in northern California, Atherton takes the crown for the most expensive zip code in the nation for the eighth consecutive year, with a 2024 median sale price of $7,900,000. The Hamptons takes the next two spots: Sagaponack comes in second, with Water Mill right behind. The median sale price in both zip codes lands just below $6 million.

Other findings include:

• Newport Beach, California holds an unprecedented three spots in the top Ten most expensive zip codes.
• New York City remains number one for expensive real estate, with six zip codes in the top one hundred zips, with TriBeCa’s 10013 is in the lead.
• The sweet spot covering most areas was the $2 million to $5 million price range, with five areas priced higher than $5 million, and fifteen priced below $2 million.
• seventy eight percent of the most expensive zip codes in the nation are in the Bay Area, metro LA, and metro New York.
• Southern California has the highest concentrations of expensive zip codes, with Los Angeles, Santa Clara, and Orange counties containing more than ten each.
• New price records were set in Arizona, Florida, Maryland, and New Jersey, with the number one most expensive zip code topping out at $5.75 million.
• In New England, Nantucket, Massachusetts leads the expensive real estate market at $2.9 million. Riverside tops out at $2.51 million in Connecticut, and New Hampshire’s New Castle area comes in at $2.19 million.

• Out west, Medina tops Washington State at $4 million, while Nevada’s Crystal Bay comes in at $2.1 million.

Ranking the Most Expensive U.S. Zip Codes by Median Sale Price

 PropertyShark’s research showed that the main trend of the year was one of cautious growth for luxury real estate. They analyzed year-to-date closed residential sales, rather than listing prices, which tend to reflect sellers’ wishes, instead of real-life market conditions.

  After last year’s declining prices, sixty seven percent of the nation’s one hundred most expensive zip codes (representing one hundred and twenty one locations, due to a number of pricing ties) saw median sale prices increase in 2024, as opposed to only twenty nine percent of the zip codes in 2023. Fifteen zip codes had median sale prices of $4 million and above—a record. Only fifteen percent stayed below $2 million.

Atherton, California’s 94027, the country’s most expensive zip code, went against the grain with a minor price decrease, bringing its median sale price below $8 million. Meanwhile, sustained growth, in line with many other exclusive zip codes, caused Newport Beach, California to hit new pricing and ranking heights.

Atherton Maintains Top Position for 8th Consecutive Year Due to Sagaponack Price Drop

 The tenth priciest zip codes in 2024 were a familiar mix of ultra-wealthy communities, with prices ranging between $4.41 million and $7.9 million. But there were notable absences, like Boston’s pricey 02199 zip code in Back Bay, where depressed sales activity caused it to miss this year’s list.

The top Ten most expensive U.S. zip codes in 2024 were:

1. Atherton, California (94027) • Median Sale Price: $7,900,000

Atherton logged a five percent price drop this year, after three consecutive years of price increases pushed the billionaire enclave above the $8 million mark. The drop meant a $400,000 median sale price decrease, bringing the San Mateo County community back to 2022 price levels. 

2. Sagaponack, New York (11962) • Median Sale Price: $5,950,000

Sagaponack is down from $8.08 million, its highest price point ever, after a $2.13 million price cut, fueled by weak transactional activity.

3. Water Mill, New York (11976) • Median Sale Price: $5,885,000

The Hamptons makes its second appearance in the top Ten due to Water Mill’s 11976, hitting its highest spot yet. Water Mill also set a new median sale price record, the result of a thirty one percent jump over last year’s figures.

4. Miami Beach, Florida (33109) • Median Sale Price: $5,750,000

The exclusive Florida zip drops a notch due to Water Mill’s jump, but it still set a new price record of $5.75 million. This was the fifth consecutive year of price increases for the ultra-exclusive Fisher Island community.

5. Santa Barbara, California (93108) • Median Sale Price: $5,052,000

Montecito grew a near-negligible one percent in 2024, but that translated to a $52,000 price increase that made its median sale price the city’s highest yet. Conversely, Beverly Hills’ famous 90210, last year’s #5, suffered an $800,000 median sale price drop, causing it to miss out on the top Ten.

6. Newport Beach, California (92661) • Median Sale Price: $4,763,000

Newport Beach’s cautious price growth landed a record three zip codes in the country’s Ten priciest, with the lower half of the Balboa Peninsula being the most expensive. Notably, this zip code was also Newport’s first to break into the top 10 back in 2022.

7. Newport Beach, California (92657) • Median Sale Price: $4,720,000

The master-planned community of Newport Coast finally cracked the top 10 this year. Now Newport Beach is tied with Los Angeles for the title of second-most expensive city in the U.S.

8. Newport Beach, California (92662) • Median Sale Price: $4,650,000

Newport Beach’s Balboa Island jumped nineteen percent year-over-year, surpassing the $4 million threshold for the first time and making history: Newport Beach is the first metro to claim three spots in the top Ten.

9. Rancho Santa Fe, California (92067) • Median Sale Price: $4,550,000

Popular with athletes and celebrities, this Rancho Santa Fe zip code reached a new price record, landing in the top Ten for the third year in a row.

10. Santa Monica, California (90402) • Median Sale Price: $4,410,000

This Santa Monica zip code peaked in 2019 and 2020 as the country’s third most exclusive zip code, but hasn’t had the kind of price gains lately that other affluent areas have enjoyed. Los Angeles has 18 locations in this list, but 90402 is the only one that made it into the top Ten.

NYC is the Most Expensive City

Ever since COVID-19, New York City’s most expensive areas have never made it back to the top Ten-and have even mostly missed the top Twenty. But NYC had a comeback in 2024, regaining its crown as the priciest city, home to six of the country’s most expensive zip codes, taking the leading position from last year’s winner, Los Angeles. NYC’s most exclusive zips this year comprised five Manhattan locations and one Brooklyn neighborhood.

For example, TriBeCa’s 10013, NYC’s most expensive zip code, was only number twenty three this year, with a $3.36 million median sale price, whereas in 2017 it was the second-most expensive in the country at $4.1 million. Meanwhile, Battery Park City’s 10282 had one of the worst price drops among the most exclusive zip codes, coming in at #37 after landing $540,000 below last year’s numbers.

Landing at #43, NYC’s 10007, which covers parts of Downtown Manhattan, TriBeCa and SoHo, was the state’s only other zip to crack the $2 million mark at a $2.71 million median sale price. Brooklyn’s 11231 in Red Hook dropped to the last position of the top One Hundred at a $1.91 million median sale price. And while last year Queens’ 11109 broke into the top One Hundred100, this year it didn’t make the list.

Meanwhile, across the nation, Los Angeles’ 90064 failed to return this year, meaning that Los Angeles and Newport Beach tied for the second-most expensive city with five zip codes apiece. But Newport Beach zip codes featured higher prices, with three of them reaching around $4.7 million to also rank among the country’s 10 most expensive zip codes. Newport’s two remaining entries, 92660 and 92663, were also growing, reaching $2.88 million and $2.66 million, respectively.

Not surprisingly, Los Angeles’ most expensive zip codes were the $3.15 million 90272 in the Pacific Palisades, the $2.81 million 90077 in the Bel Air, Beverly Crest, and Holmby Hills areas, plus the $2.35 million 90049 in Brentwood, which together form an uninterrupted cluster of ultra-expensive real estate.

Palo Alto may have come in as the third-priciest city with only four zip codes, but 94301 in the Crescent Park, Old Palo Alto, Professorville, University South and University North area hit a $3.6 million median sale price, ranking nine spots higher than LA’s most exclusive enclave. Meanwhile, Palo Alto’s remaining three expensive zips all surpassed $2.5 million.

California Home to Four of the Most Expensive Counties

Nearly all of the country’s most expensive counties were represented in the Ten most expensive zip codes in 2024. Last year’s leading trio returned, making Los Angeles County yet again the top most expensive with Eighteen of the country’s priciest zip codes.

Santa Clara County was the runner-up with Sixteen zip codes—the only county not represented in the top Ten. Santa Clara’s top zip codes—90402 and 94024 in Los Altos—landed at number eleven and number twelve, respectively, with median sale prices at $4.3 million and $4.2 million. Orange and San Mateo counties came in next with eleven and nine zip codes, respectively, while New York’s Suffolk County was the only East Coaster to make a strong showing.

Suffolk County landed eight affluent Hamptons communities on the list, including Sagaponack (#2) and Water Mill (#3), both sitting at around $5.9 million. A limited sales pool contributed to the affluent Long Island county having the sharpest pricing surge among the country’s One Hundred most expensive zips. Amagansett, in particular shot up Fifty Three percent year-over-year, hitting $3.74 million and setting a new price record, driven in part by low sales.

Most Expensive Zip Codes Are in the Bay Area, Metro LA, and Metro New York

California owned the top One Hundred list, with the Bay Area landing Thirty Nine of the most expensive zips in 2024 and Los Angeles adding twenty Nine. The Bay Area may have lost ground in recent years, but this was its eighth consecutive year as the most expensive metropolitan area in the country.

Only metro New York made a showing as strong as its West Coast rivals, providing twenty Six of the priciest zips in 2024. All told, the Bay Area, metro LA, and metro New York accounted for seventy eight percent of the country’s leading zip codes.

California Home to Sixty Six percent of the Most Expensive U.S. Zip Codes

Continuing the trend of the past few years, California claimed the vast majority of exclusive zip codes. California provided Eighty of the one hundred and twenty one locations in the top One Hundred, with New York state a distant second with Nineteen.

Other states on the list with expensive zip codes were New Jersey (six zips), Massachusetts (five), Connecticut (four), and Washington state (two). Arizona, Florida, Maryland, Nevada, and New Hampshire all had one zip code each.

New England Zip Codes Surpassing $2M

Three New England states landed zip codes among the country’s one hundred most expensive: Massachusetts (five), Connecticut (four), and returning for its fifth year, New Hampshire (one). Eight of these Ten New England zip codes had median sale prices north of $2 million.

Massachusetts landed the highest spot in the region, with Nantucket’s 02554 in the lead with a $2.9 million median sale price. Depressed sales activity kept Boston’s iconic 02199 Back Bay zip code off the list, but Boston was still represented with zip 02108 in the Beacon Hill and Downtown Boston area, at a $2.5 million median sale price.

Connecticut’s Fairfield County communities landed four zip codes among the country’s most exclusive for the first time in three years. Last year’s twenty four percent price increase allowed Riverside’s 06878 to reach a record median sale price of $2.51 million, while in Greenwich’s 06830 zip code, prices grew at an incredible pace of twenty percent and hit $2.27 million.

In New Hampshire, 03854 in New Castle shrunk to a $2.19 million median sale price, but kept the state among the country’s most expensive zip codes. 

Florida, Maryland & New Jersey Set New Record Prices of Up to $5.75M

New Jersey was represented by a record six zip codes among the top one hundred. The perpetually pricey 07620 in Alpine was, as almost always, the most expensive New Jersey zip code at $3.32 million a new record high for that metro.

Deal’s 07723 was next, at $2.95 million, riding a forty percent surge over 2023 numbers and the second sharpest growth among the country’s one hundred most expensive zips. (Sluggish transactional activity, in part, drove that price increase). The latest NJ zip to make the list was Ocean County’s 08738 in Mantoloking, landing at number fifty nine with a $2.37 million median sale price.

Heading south, 21056 in Gibson Island represented Maryland at number twenty five, the result of a thirty one percent year-over-year price increase that grew their median sale price up to $3.3 million, a record high. And even further south, Miami Beach’s Fisher Island reached a $5.75 million median sale price, a new record price for Florida’s famed 33109 zip.

Paradise Valley Sets New Price Record for Arizona

Out west, Paradise Valley’s 85253, Arizona’s most expensive zip code, hit a record high in its sixth consecutive year in the top one hundred. Paradise landed at number twenty seven, with a new record median sale price of $3.25 million. Across the state line, Nevada’s 89402 in Crystal Bay was the state’s priciest zip code this year at $2.07 million; the metro is returning to the list after a two-year absence with a $430,000 price cut.

In the Pacific Northwest, Washington claimed two spots in the top one hundred with Medina and Mercer Island. Usually the most expensive zip in the state, Medina’s 98039 retained its leading spot with a $4 million median sale price, while Mercer Island’s $2.3 million median sale price for zip 98040 was its highest yet, and landed it in the top one hundred.

Click here for more on PropertyShark’s examination of the nation’s most expensive zip codes.

The post Where Are the Most Expensive ZIP Codes in the U.S.?  first appeared on The MortgagePoint.

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