- Sagaponack’s 11962 (in the Hamptons) and Atherton’s 94027 retain their top positions as the most expensive ZIPs in the country, despite seeing a considerable drop in median sale prices
- 10013 — home to posh NYC neighborhoods like SoHo and Tribeca — enters the top 3 with a median home sale price of $3.8 million
- the iconic 90210 in Beverly Hills lost its top 3 position and was pushed down to #7
- CA and NY dominate the list, with some ZIPs from FL, MA, NJ, MD, and CT also making their way towards the top of the list
- differences between asking and selling prices show striking contrast with the list recently released by Forbes
- Forbes’ most expensive ZIP code — 33462 Manalapan, FL — is not even close to the top 10; in fact, it’s at the other end of the spectrum, landing a #4,254 spot on our list
Striking Differences When Ranking the Most Expensive ZIP Codes in the Country
After carefully tracking the priciest U.S. ZIP codes for the past years, it has become somewhat second nature to us. So when Forbes released their list of most expensive ZIP codes in the U.S., something felt off. We dug deep in our data, pulled out selling prices for homes throughout the country, then ranked each ZIP code based on them.
The main differences between the two rankings is that we took into account strictly sales data, whereas the Forbes findings were based on asking prices for homes on the market for the 90 days ending Nov.18 — which shifted the balance in favor of ZIP codes with very expensive active listings.
Even more, when looking closer at the 33462 ZIP code which led Forbes’ ranking, their numbers seem to be based only on a select area, one which did not span the entire 33462 ZIP code but only an extremely expensive section, Manalapan.
When taking a more realistic approach and looking at how much properties in all of 33462 actually sold for in 2016, this Florida ZIP commanded a median selling price of merely $170,000 — pushing it down from #1 to #4,254! Similarly, the 33139 Miami Beach ZIP code that ranks on the 11th spot on Forbes’ list landed only on #2,072, with a median sale price $313,000.
Most Expensive ZIP Codes in the U.S. are Almost Exclusively in CA and NY
There’s no easy way to put this: California isn’t getting any cheaper! Out of the 100 priciest ZIP codes, an impressive total of 72 are located in CA. NY trails behind, with a total of 21 ZIP codes, half of which are located in New York City. Meaning that 93 of the priciest U.S. zip codes are located in the two sates with the lowest homeownership rates in the U.S.
To see the rare few outside New York and the Golden State — with entries from Florida, Massachusetts, Washington, New Jersey, Maryland, Nevada, Connecticut, and Hawaii — scroll down for a full breakdown of the 100 priciest ZIP codes, alongside the city they’re in and their median selling price in 2016.
And the 10 Priciest ZIP Codes in the Country Are…
#10. 94028, Portola Valley
The ZIP code that covers the entire Portola Valley town — which has already made a name for itself as one of the wealthiest towns in California — is so appealing to affluent buyers that it has commanded a median selling price of $2,815,000.
#9. 94022, Los Altos
Making its way to the top 10 (after landing on the 12th spot on our list last year), this Los Altos ZIP code can brag about median selling prices of $2,831,250.
#8. 94301, Palo Alto
This location — on top of being a stone’s throw from major employers, with the Googleplex itself being in the nearby Mountain View — has the added benefit of neighboring Stanford University. Despite that, the Palo Alto ZIP saw a $215,000 drop in selling prices, with the median for the area now sitting at $2,935,000.
#7. 90210, Beverly Hills
Registering an 11% drop in home prices, the iconic Beverly Hills ZIP code traded its Top 3 spot from last year for an honorable 7th spot on our list.
#6. 10007, New York City
Part TriBeCa, part Financial District, and surrounding the World Trade Center, 10007 saw a spectacular growth in 2016 in terms of selling prices: while the year before, homes in the area commanded a median price of $2,800,000, 2016 median selling prices jumped way past the $3 million mark, at $3,349,657.
#5. 90402, Santa Monica
The ritzy neighborhood north of Montana Avenue consolidates its position as a top attraction for affluent (and international) buyers, with a median price of $3,395,000.
#4. 33109, Miami Beach
A popular retirement destination for investors and affluent retirees, 33109 stands out as Florida’s most expensive ZIP code, with a median selling price of $3.4 million.
#3. 10013, New York City
Few areas can compete with the appeal of this ZIP code, which includes parts of TriBeCa, SoHo and Hudson Square and features some of the most exclusive condos and co-ops in the city. It then comes as no surprise that properties in the area sold for 12% more in 2016 compared to the previous year, with the median price now up to $3,808,765 — bumping it up one position and securing a top 3 spot among the most expensive ZIP codes in the country.
#2. 94027, Atherton
Despite being home to less than 8,000 residents, Atherton can pride itself on having some of the most expensive real estate in the country — and some of the highest property taxes too. Nevertheless, its 2016 median price of $5,425,000 is down 8% from 2015.
#1. 11962, Sagaponack
With its sprawling mansions — that sell for about $5.5 million — this Hampton’s ZIP code is the undisputed leader when it comes to hefty prices and exclusive living. But despite managing to maintain its top spot on the list of most expensive ZIP codes, Sagaponack saw a 35% decrease in median sale prices — which translates into a full $3 million price drop.
Most Expensive Zip Codes in the US by Median Sale Price
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In order to determine which were the most expensive ZIP codes in the U.S., we looked at all residential transactions closed in 2016, taking into account condo, co-ops, single- and two-family homes. All package deals were excluded.