As always, when determining the most exclusive areas for high-priced real estate, we calculated median sale prices based on closed home sales, not asking prices, as we consider this methodology to provide the most accurate picture of actual market dynamics. Whereas asking prices reflect sellers wishes, calculating medians based on sale prices reflects the transactional reality on the ground.
- Atherton, Calif., and Sagaponack, N.Y., post medians above $8 million for the first time with Sagaponack rising 40% year-over-year
- More than half of the country’s most exclusive zips record price drops year-over-year in 2023, compared to just 15 in 2022
- Northern California’s Ross sees its median drop 39% to fall from #3 position to #21
- Country’s 100 most expensive zip codes located in 11 states, with 65% from California
- Bay Area claims 37 of nation’s most exclusive zip codes, loses nine compared to 2022
- Los Angeles County remains priciest county with 20 entries
- NYC boasts highest concentration of pricey zip codes, while San Francisco continues to lose steam
- Maryland’s Gibson Island returns to the top 100, placing #45 with a median of $2.53 million
Ranking the Priciest U.S. Zip Codes by Closed Home Sales Shows Downward Trend in Median Sale Prices
After the Federal Reserve raised interest rates 10 times in 2022 and 2023 to combat inflation and slow the economy, the U.S. housing market has begun to cool, as evidenced by declining home sales and moderated price growth.
In contrast to the previous year — when most of the 100 most expensive U.S. zip codes saw price increases — 2023 witnessed a general decline in median sale prices. Specifically, this year, 70 of the 122 zip codes within the top 100 (due to 18 ties) experienced price drops, as compared to only 15 drops in the previous year.
Despite the general decline in median sale prices, some of the nation’s most exclusive zip codes reached new heights. For instance, California’s Atherton maintained its position as the long-time leader with a median sale price of $8.3 million. Further north, Stinson Beach, Calif., entered the top 10 for the first time by boasting a median price of $4.5 million. On the opposite coast, Water Mill, N.Y., also joined the top 10 for the first time since 2017, matching Stinson Beach’s median sale price.
Overall, the four priciest zips in the country posted medians of $5 million or more, and a total of 13 zips surpassed the $4 million threshold. What’s more, of the 122 zips on our list, only 29 had medians below $2 million — and those, too, stayed above $1.8 million.
Top 10 Most Expensive U.S. Zip Codes: Atherton, Calif. & Sagaponack, N.Y., Log Medians Above $8M
Despite the national slowdown in the housing market, 2023 was yet another record-setting year for the most expensive zip codes in the U.S. Plus, for the first time, the top two entries on our list achieved median sale prices that surpassed $8 million, with the first place nearly doubling the $4.25 million median of the 10th spot.
In contrast to the overall downward trend in median sale prices, only three of the 11 zip codes within the top 10 (due to a pricing tie) experienced a slight decrease in the median sale price, while four witnessed double-digit year-over-year price growth. This indicates that the most exclusive areas in the country are still experiencing growth, defying the overall trend of declining prices.
- Atherton, Calif. (94027)
Median home sale price in 2023: $8,300,000
- Sagaponack, N.Y. (11962)
Median home sale price in 2023: $8,075,000
- Miami Beach, Fla. (33109)
Median home sale price in 2023: $5,500,000
- Santa Barbara, Calif. (93108)
Median home sale price in 2023: $5,000,000
- Beverly Hills, Calif. (90210)
Median home sale price in 2023: $4,800,000
- Stinson Beach, Calif. (94970)
Median home sale price in 2023: $4,500,000 (tie)
- Water Mill, N.Y. (11976)
Median home sale price in 2023: $4,500,000 (tie)
- Newport Beach, Calif. (92661)
Median home sale price in 2023: $4,495,000
- Santa Monica, Calif. (90402)
Median home sale price in 2023: $4,489,000
- Medina, Wash. (98039)
Median home sale price in 2023: $4,388,000
- Rancho Santa Fe, Calif. (92067)
Median home sale price in 2023: $4,248,000
Home to tech billionaires and venture capitalists, the nation’s most expensive zip code remained Atherton’s 94027 at a jaw-dropping $8.3 million median sale price after a 5% Y-o-Y increase. For context, Atherton is almost exclusively zoned for single-family homes, with a one-acre minimum lot requirement dating back to the 1920s.
Notably, Senate Bill 9 — the new state duplex law enacted in 2022 — caused applications to rise for Atherton property owners wanting to split their lots. Yet, a general feeling of NIMBYism continues to hinder the development of more affordable multifamily homes, thereby keeping the area exclusive.
Next, Sagaponack, N.Y. — a village in Long Island’s Hamptons — ranked as the second-most expensive zip code in the country with a median sale price of nearly $8.1 million. This represented a 40% increase from last year, when it was $5.75 million and came in as the second priciest zip. It’s also worth mentioning that this is the first time since 2016 that Sagaponack and Atherton had nearly matching median sale prices. Back then, Sagaponack ranked first with $5.5 million and Atherton came in second with $5.43 million.
To the south, Fisher Island, Fla.’s 33109 zip code in Miami Beach has consistently maintained its status as one of the most prestigious and priciest residential areas in the U.S. This year, it secured the third position on the list of the 100 most expensive zip codes, climbing one position compared to its fourth place in the previous year. More precisely, Fisher Island’s median sale price was $5.5 million this year, reflecting a 6% Y-o-Y increase.
Across the country, Santa Barbara, Calif.’s 93108 zip code, which includes the exclusive enclave of Montecito — home to famous residents like Oprah and Prince Harry and Meghan Markle — ranked fourth with a median sale price of $5 million. This represented a 16% increase from last year, when its median was $4.3 million and Montecito ranked #8. Santa Barbara’s 93108 zip code entered the top 10 for the first time in 2021, ranking seventh with a median sale price of $4.1 million.
Following that, we have the renowned 90210 Beverly Hills zip code in Los Angeles, which boasted a median sale price of $4.8 million. This figure represented a slight 6% decline when compared to prices from the previous year. However, in spite of this modest decrease in the median sale price, the zip code has maintained its position in fifth place.
In the sixth position, we have two zip codes that are joining the top 10 this year, both sharing a median sale price of $4.5 million — Stinson Beach in Northern California and Water Mill on New York’s Long Island (just four miles away from Sagaponack). Stinson Beach has experienced a remarkable 27% increase from last year, when it ranked #21 with a median sale price of $3.5 million. Similarly, Water Mill experienced a 22% Y-o-Y increase to move up from the #18 spot it held last year.
Further down the coast, Newport Beach maintained its upward trajectory to secure the #7 position with the 92661 zip code. Here, the median sale price stood at $4,495,000, up 5% compared to the previous year. Even so, Newport Beach’s 92661 median sale price was just slightly above Santa Monica’s 90402 zip code, which saw a mere 2% increase from the previous year to reach a median sale price of $4,489,000.
Renowned for being the residence of Bill Gates and Jeff Bezos, the 98039 zip code in Medina, Wash., was next, reaching its highest position last year with a median sale price of $4.75 million. This year, though, it experienced an 8% Y-o-Y decline to nab #9 with a median sale price of $4,388,000.
Notably, home prices in King County reached their peak in May 2022 after experiencing substantial increases due to the pandemic. Since then, prices have decreased by 9%, according to The Seattle Times. Nevertheless, the limited supply of homes for sale is likely to prevent further significant price declines in the near future.
Finally, Rancho Santa Fe, Calif.’s 92067 maintained its position in the #10 spot with a median sale price of $4,248,000, down just 1% Y-o-Y. The San Diego County community — known for its gated estates and expansive, beautifully landscaped homes — first entered the top 10 last year, when its median grew 26% to reach $4,275,000.
California Loses 11 Zips, New York Gains 5 Among Nation’s Priciest
California continues to hold its position as the most expensive state in the U.S. for homebuying. In fact, a total of 79 of the priciest zip codes can be found within the Golden State, including seven of the top 10 most expensive. As usual, New York came in second with 22 entries, representing 18% of the wealthiest zip codes in the U.S.
That said, California dropped 11 zip codes compared to last year, when 90 were among the top 100 most expensive. The sharpest median decrease was also logged in California: Marin County’s Ross dropped 39% year-over-year (Y-o-Y), falling to #21 after ranking #3 last year. This is likely attributed to a decrease in the average size of the properties sold. In 2022, the homes that changed hands in Ross had an average square footage of 4,496, whereas this year, the average size of homes sold was only 3,147 square feet.
On the other hand, New York gained five zip codes in our list. Moreover, the Empire State also contributed two of the top 10 most expensive zip codes this year — Sagaponack and Water Mill in Suffolk County. Both zip codes recorded significant increases in median sale prices, with Sagaponack leading the top 100 by jumping 40% Y-o-Y.
The East Coast made its presence further known with Massachusetts, which was home to six of the top 100 zips in the U.S. (the same as last year). However, the state’s ultra-pricey 02199 Boston zip code continued to slip, stopping at #31 after dropping out of the top 10 last year to #27. New Jersey followed Massachusetts with five zip codes, gaining one zip compared to the previous year.
Meanwhile, Washington and Connecticut each lost one zip code compared to last year, providing three and two zip codes, respectively, to the country’s most exclusive zips this year. Lastly, Nevada, Florida, Arizona, New Hampshire and Maryland all contributed one zip this year.
Bay Area Remains Priciest Metro, but Loses 9 Zips Compared to 2022
The Bay Area continued to maintain its status as the most expensive metropolitan area in the U.S. with 37 of the priciest zip codes in the region. However, there has been a notable shift from the previous year as it lost nine zip codes compared to 2022, when it boasted 46. Still, the Bay Area’s most expensive zip codes continued to be concentrated in Santa Clara County (16 zips), followed by San Mateo (8), Marin (6), Contra Costa (4) and San Francisco (3) counties. Alameda County — which previously claimed three zip codes among the country’s most expensive — had no zips in the top 100 this year.
Underscoring California’s reputation for expensive real estate, the state also hosted the second-priciest metropolitan area in 2023 with metro LA. Specifically, Orange and Los Angeles counties accounted for 29 of the top 100 most expensive zip codes in the country. In the LA metro area, the most expensive zip codes were Beverly Hills’ 90210, Newport Beach’s 92661, and Santa Monica’s 90402 — the #5, #7 and #8 priciest nationally.
Back east, the New York metropolitan area followed close behind LA with 28 zip codes among the country’s top 100 for five more than in 2022. These were primarily located in the New York counties of Suffolk (9), New York (6) and Nassau (3). Not to be outdone, Westchester, Fairfield, and Monmouth counties each placed two, while Essex, Bergen, Kings and Queens counties each contributed one.
Southern California & Silicon Valley Continue to Claim Priciest Counties, Along with The Hamptons on the East Coast
Yet again, the sheer dominance of California home prices was also reaffirmed at the county level. Unsurprisingly, Los Angeles County stood out as the leader by featuring 20 of its zip codes among the most expensive in the nation, which was just one less than in 2022.
Next up was Santa Clara County with 16 zip codes, marking an increase of two from the previous year. Then, southern California’s Orange County, and Suffolk County in New York shared the third spot, each contributing nine zip codes to the list of the country’s priciest residential areas.
Among the counties with the most exclusive zips, Santa Clara County was the only one without zip codes in the top 10 for the second year in a row. First, the county lost its presence in the top 10 after 94022 in Los Altos slid from #9 to #11. Then, this year, the Silicon Valley zip code continued to slide to #13 as its median fell 6% Y-o-Y to $3,989,000.
Otherwise, Los Angeles County’s neighbor, Orange County, posted the #3 highest concentration of pricey zips, together with New York’s Suffolk County. While Orange County lost one zip compared to last year, Suffolk County’s most exclusive areas remained virtually unchanged. Nevertheless, with Water Mill’s 11976 zip, the East Coast county debuted a new entry among the nation’s top 10 priciest areas.
New York City Holds Highest Concentrations of Exclusive Zips, Outpacing West Coast Counterparts
When it comes to cities with the highest concentrations of expensive zip codes, New York City took the lead by contributing eight zip codes to the country’s priciest. This year, NYC gained two additional zip codes compared to last year, when it contributed six.
Although Manhattan used to be the sole borough in New York City to contribute to the top 100, this year, two additional zip codes emerged from Brooklyn and Queens: Brooklyn’s familiar 11231 zip code — with a median price of $1.8 million — secured the #98 spot, while Queens’ 11109 entered the top 100 for the first time, boasting a median price of $2.1 million and claiming the #72 place. Though small in terms of area and sales volume, this Queens zip code represents a cluster of luxury buildings facing Manhattan along the East River.
Of course, Los Angeles remained a significant player with six zip codes among the nation’s most exclusive areas to align with its 2022 standing. However, the median sale price declined substantially in Los Angeles’ 90077 zip code, falling 30% Y-o-Y to $2.3 million.
Following Los Angeles, Newport Beach in Orange County stood out by contributing five zip codes to the top 100, including three zip codes that secured spots in the top 15. Accordingly, as Newport Beach continued to be a community of exclusive zip codes, median sale prices ranged between $2.49 million and $4.5 million.
After losing its leading position to NYC and LA last year, San Francisco continued to slide, adding only three zips among the country’s top 100 compared to the five ranked in 2022. Namely, San Francisco’s 94127 zip code, with a median sale price of $1.8 million, was the last to enter the nation’s priciest, tying with Topanga’s 90290 in LA County and Rye’s 10580 in New York.
New York City Marks Historic First with Zips from 3 Boroughs Among Country’s Most Expensive
While California remained the unchallenged leader by contributing the highest number of exclusive zip codes to the top 100, 2023 could be easily called the year of New York. That’s because although California lost 11 zips, New York state gained five to further solidify its presence among the most expensive zip codes in the U.S. Specifically, the state recorded 22 zip codes — eight of which were in New York City — to outpace its West Coast rivals of Los Angeles and San Francisco.
Although New York City has been on the path to recovery, it has yet to fully return to its pre-pandemic status in our rankings. For example, the city held a stronger position in 2019 with two Manhattan zip codes (#5 with 10007 and #8 with 10013) securing places in the top 10. For comparison, in 2023, these same zip codes ranked #24 and #27, respectively, with medians at $3.09 million and $2.97 million.
Even so, the city also achieved two historic first entries within the top 100: One was Queens’ 11109, which covers parts of Hunters Point, and the other was Manhattan’s 10028, spanning Yorkville and parts of Carnegie Hill.
Furthermore, in 2023, Suffolk County maintained its position ahead of New York City with nine zip codes in the top 100, compared to eight from the city. In particular, Sagaponack’s 11962 zip code and Water Mil
l’s 11976 zip code earned places among the nation’s top 10 most exclusive areas, coming in at #2 and #6, respectively. Both zip codes saw significant increases in median sale prices with Sagaponack registering a remarkable 40% rise and Water Mill experiencing a 22% Y-o-Y increase.
At the same time, Long Island’s North Shore introduced two new zip codes compared to last year, to join the already-recognized 11568 in Old Westbury. These newcomers were Glenwood Landing’s 11547 zip code that featured a median price of $1.86 million and Mill Neck’s 11765 zip code with a median sale price of $3 million. The latter ranked #26 in our list of exclusive areas.
Westchester County also contributed a new zip code to the top 100 compared to last year, with 10577 in Purchase landing at #64 with a median sale price of $2.2 million. Westchester’s familiar 10580 in Rye brought New York state’s total to 22 entries of the country’s 100 most expensive zip codes. Similar to previous years, Rye continued its steady decline with its median sale price ticking down 4% Y-o-Y to finish at #100 this year.
Boston’s Back Bay Continues Decline After 14% Y-o-Y Price Cut
Of the six states in New England, three logged zip codes among the 100 most expensive: Massachusetts featured six; Connecticut had two; and New Hampshire returned for the third year, albeit with a new zip code — New Castle’s 03854. The latter ranked as the third-priciest zip code in New England and the #44 most expensive nationwide with a median sale price of $2.55 million.
As expected, the New Hampshire zip code was outranked by two Massachusetts zip codes — Boston’s 02199 in the #31 spot and Nantucket’s 02544 in the #40 spot in our ranking. More precisely, Boston’s pricey 02199 zip code in Back Bay noticeably weakened last year following a 41% price cut, to fall from the #2 spot and an all-time high median of $5.5 million in 2021, to #27 and a median of $3.24 million in 2022. Moreover, this year, the median sale price in Back Bay decreased 14% Y-o-Y, reaching $2.8 million.
However, the most significant decline in median sale prices occurred in Chilmark’s 02535 zip code, which is situated on Martha’s Vineyard in Dukes County. It experienced a 15% Y-o-Y drop, bringing the median sale price to $1.95 million. In fact, Chilmark was the lowest-ranking zip code in Massachusetts, securing the #87 position nationally. And, within New England, only Connecticut’s 06830 zip code in Greenwich had a lower ranking with a median of $1.89 million, placing it in the #97 spot among the most exclusive zip codes in the country.
Conversely, Connecticut’s 06878 zip code in Riverside witnessed the most substantial increase in the median sale price in New England and the fourth-most significant across the entire nation: It rose 24% Y-o-Y to reach $2.23 million and secure the #60 position nationally — a notable improvement from its #99 spot in the previous year.
New Jersey’s Alpine Back in the Lead with $2.94M Median
At the same time, New Jersey set a new record with five zip codes ranking among the wealthiest in the country. After briefly losing its top position last year to Deal’s 07723 zip code in Monmouth County, New Jersey’s consistently high-priced 07620 zip code in Bergen County’s Alpine regained its leadership role in the state.
This was achieved through a substantial 35% increase in the median sale price, which reached $2.94 million to secure the #28 spot nationally. On the other hand, Deal (Alpine’s rival from the previous year) was the sole zip code in the state to experience a decrease in prices. Compared to the previous year, it fell 9% to a median sale price of $2.1 million, placing it in the #70 spot among the top 100 exclusive areas.
Similarly, Avalon’s 08202 zip code, which debuted in 2021, returned for the third consecutive year by boasting a median sale price of $2.29 million for a 14% Y-o-Y increase. The beach community in Cape May County also made significant progress in the rankings, climbing 26 positions from its #82 spot last year to reach the #56 position this year.
Following Avalon, another beach community — Sea Girt’s 08750 zip code in Monmouth County — stood out with a median sale price of $2.24 million. Interestingly, this community didn’t make it to the top 100 last year but, in 2021, it held the #70 position with a median sale price of $1.89 million. Finally, New Jersey’s fifth contribution to the top 100 was 07078 in Short Hills with a median sale price of $1.92 million, representing a 5% Y-o-Y increase.
Florida and Maryland Represented by Exclusive Island Communities Among Priciest Zips
Heading down the coast to Maryland, Gibson Island’s 21056 zip code ranked as the #45 most expensive in the nation, featuring a median sale price of $2.53 million. It’s worth noting that Gibson Island didn’t make it into our rankings last year. Additionally, the Chesapeake Bay community also didn’t match its all-time high sale price of $3.19 million, which it logged in 2021, when it saw a remarkable 97% Y-o-Y surge in its median sale price to secure the #23 position nationally at the time.
Further down south in Florida, the consistently high-priced 33109 zip code on Miami Beach’s Fisher Island continued its upward trajectory. Specifically, it climbed one spot from #4 to #3 nationally, marking the first time since 2017 that this popular celebrity location regained a place on the podium. It also reached a new pricing peak with a median sale price of $5.5 million.
Washington’s Medina Remains Most Expensive Enclave in the Pacific Northwest
While Washington state had a notable presence in the previous year with a record four zip codes, in 2023, it added only three zip codes to the list of the nation’s most exclusive locations. As a result, the Pacific Northwest was represented by the consistently high-priced 98039 Medina zip code, along with Mercer Island’s 98040 and Bellevue’s 98004. Prices also trended down in all three of these locations.
Nonetheless, Medina’s 98039 remained the undisputed leader of expensive homes, marking its eighth consecutive year with the highest median sale price in the region. Even with an 8% Y-o-Y decrease to $4.39 million, Medina still secured the #9 position in the top 10, although it did slip from its #6 place ranking in the previous year.
Across the lake from Seattle, Mercer Island’s 98040 zip code returned with a median of $2.12 million, down 7% Y-o-Y but still enough to earn the #68 spot nationally. Meanwhile, Bellevue’s 98004 — also known as the birthplace of Amazon — ranked #96 with a median sale price of $1.85 million, reflecting a 3% decrease compared to the previous year.
Arizona & Nevada Continue to Lead with Priciest Homes in Mountain States
The West was also represented by exclusive Arizona and Nevada communities: Arizona’s flagship zip code — 85253 in Paradise Valley — returned for the fifth consecutive year and reached its highest position to date at #32, even though it experienced a slight decrease in the median sale price. Specifically, the median in Paradise Valley was $2.79 million after a 4% Y-o-Y decline.
Interestingly, Paradise Valley’s zip code has long been favored by some of the world’s most high-profile rock stars. As such, it first entered the list of the country’s most expensive zip codes in 2019 with a median of just less than $1.5 million, although it had already been a leader in Arizona’s pricey real estate market for years.
And, yet again, Nevada was represented by just one zip code — Glenbrook’s 89413 in Douglas County. The Lake Tahoe enclave landed at #35 with a median sale price of $2.74 million, down 11% from last year’s record median of $3.08 million.
For the full list of 2023’s top 100 most expensive zip codes in the U.S., explore the interactive table below:
Make sure to explore 2022’s rankings, as well.
To determine the most expensive zip codes in the U.S., we looked at residential transactions closed between January 1, 2023, and October 20, 2023, taking into account condos; co-ops; and single- and two-family homes. All package deals were excluded.
For an accurate representation, we only considered zip codes that registered a minimum of three residential transactions. Due to a number of ties, 122 zips made it onto our list of the 100 most expensive zip codes in 2023.
Median sale prices in 2022 and 2023 were rounded to the nearest $1,000.
The Bay Area was defined as Alameda, Contra Costa, Marin, Napa, Santa Clara, San Francisco, San Mateo, Sonoma and Solano counties.
The Los Angeles metropolitan area was defined as Los Angeles County and Orange County.
The 23-county New York metropolitan area was defined as New York City; Long Island; the Mid- and Lower Hudson Valley; central and northern New Jersey; western Connecticut; and Pike County, Penn.
U.S. regions and divisions were defined per U.S. Census Bureau designations.