Key Takeaways:
- Atherton approaches $8 million median in sixth consecutive year as America’s priciest zip code
- Back Bay median drops 41%, loses #2 position to Sagaponack
- Five zips reach $5+ million medians, with nine more surpassing $4 million
- Washington state reaches highest position yet with Medina’s 98039 at #6
- San Diego County breaks into top 10 with Rancho Santa Fe at #10
- Nation’s 100 most expensive zip codes located in just 10 states, with 70% from California
- Los Angeles County remains the country’s priciest with 21 zips
- After missing the top 20 last year, NYC returns with TriBeCa’s 10013 at #16
- New Jersey’s Alpine returns for seventh consecutive year, but Deal is state’s highest-priced
- Arizona’s Paradise Valley undergoes 33% median increase to land at #34, its highest yet
Ranking Most Expensive U.S. Zip Codes by Median Sale Price Shows Exclusive Zips Continue to Reach Record New Heights
As mortgage rates reached 20-year highs and the economy began to falter, the overall U.S. housing market saw sales drop and price growth slow. Yet, among the 100 most expensive zip codes in the U.S., prices were on the upswing in even more locations this year than last, with 86% of zips experiencing increases.
That said, prices did grow at a slightly slower pace this year compared to 2021. More precisely, medians increased by 25% or more in just 16 zips in 2022 compared to last year’s 25. Overall, 2022 median price changes ranged between +39% and -41%.
espite this slower pace of growth, a record 128 zip codes posted the 100 highest median sale prices this year (the result of 22 ties). And they also reached new heights that might have been unimaginable just a few years ago. Among them were Atherton’s $7.9 million median; the $2.9 million median in Paradise Valley, Ariz.; and the dizzying $4.75 million median in 98039 in Medina, Wash.
Once again, ranking zip codes by median sale prices — calculated from actual closed sales to reflect real market conditions, instead of listing prices that represent sellers’ goals — this year’s top 100 proved that the wealthiest zip codes for real estate have overwhelmingly become even more expensive. Specifically, the five priciest zips in the country posted medians of $5 million or more, with a total of 14 zips surpassing the $4 million threshold. In fact, of the 128 zips on our list, only 27 had medians below $2 million — and those, too, stayed above $1.7 million.
10 States Originate Country’s Most Expensive Zips, California Keeps Its Lead
As has been the case for years now, California remained the unchallenged leader of the most expensive zip codes to buy a home in the U.S., providing 90 zips to our ranking or the equivalent of 70% of the country’s leading zips.
Not only that, but the country’s four priciest counties; the most expensive metro; four of the five priciest cities; and seven of the 10 most exclusive zips were all in California. Furthermore, the sharpest median increase was also in California: 92014 in San Diego County grew 39% year-over-year (Y-o-Y).
As expected, New York contributed the second-highest number of zips with 17 entries, representing 13% of the richest zip codes for real estate in the U.S. It was followed by Massachusetts with six zips, where the ultra-pricey 02199 zip code slipped out of the top 10 after undergoing the most radical price drop on our list at -41%. Additionally, Washington and New Jersey tied with four zips each to increase their presence among the most exclusive zips.
At the other end of the spectrum, Connecticut slid down in rankings, losing one entry since last year. Arizona, Nevada, Florida and New Hampshire all contributed one zip this year.
Top 10 Most Expensive U.S. Zip Codes: Sagaponack Returns to #2 As Boston’s 02199 Sees Median Slashed by 41%
2022 reached new historic highs with 14 zips surpassing the $4 million threshold, and the five priciest going north of $5 million.
- Atherton, California (94027)
Median home sale price in 2022: $7,900,000 - Sagaponack, New York (11962)
Median home sale price in 2022: $5,750,000 - Ross, California (94957)
Median home sale price in 2022: $5,500,000 - Miami Beach, Florida (33109)
Median home sale price in 2022: $5,200,000 - Beverly Hills, California (90210)
Median home sale price in 2022: $5,122,000 - Medina, Washington (98039)
Median home sale price in 2022: $4,750,000 - Santa Monica, California (90402)
Median home sale price in 2022: $4,400,000 - Santa Barbara, California (93108)
Median home sale price in 2022: $4,300,000 - Newport Beach, California (92661)
Median home sale price in 2022: $4,293,000 - Rancho Santa Fe, California (92067)
Median home sale price in 2022: $4,275,000
Atherton’s 94027 remained firmly entrenched as the #1 most expensive zip code in the U.S. at a jaw-dropping $7.9 million median sale price, after a 6% Y-o-Y increase. In fact, the billionaire hotspot now sports a median sale price that’s more than 20 times higher than the national median.
Meanwhile, with Boston’s Back Bay out of the picture and a 15% Y-o-Y price hike, the Hamptons’ Sagaponack returned to its traditional #2 spot with a $5.75 million median. Sagaponack’s 11062 was the second-priciest U.S. zip code for several years, although it last grabbed the runner-up position in 2020 when its median was nearly $2 million less than it is now.
The #3 priciest U.S. zip code for the first time ever, 94957 in Ross, Calif., posted a $5.5 million median. This was after an increase of 20% or nearly $1 million year-over-year. Notably, Ross has been steadily climbing in the rankings since 2016, when it was #11 in the country. Had Ross’ price gains been slightly more muted, it would have been surpassed by Fisher Island’s 33109 in Miami Beach, which placed 4th with a $5.2 million median after a 16% Y-o-Y increase.
Arguably the most famous U.S. zip code, 90210 also reached a new price record at $5,122,000 after the Beverly Hills zip shot up 24% over last year’s figures. In 2020, 90210 placed third with a $3.75 million median. Today, that median would have only earned #17.
At the same time, one long-time presence among the 100 priciest U.S. zip codes — 98039 in Medina, Wash. — secured its highest position yet with a record-breaking $4.65 million median sale price. A result of surging prices throughout King County, as well as a heated luxury market, prices rose 19% Y-o-Y in this enclave of tech dollars. In fact, the least expensive home currently on the market in Medina has a listing price of $2,998,000, according to a recent study by Point2.
Next, Los Angeles County secured its second spot among the 10 most expensive U.S zip codes with Santa Monica’s 90402 at $4.4 million, making it the only county to do so. Thanks to an 8% Y-o-Y median increase, it outpaced the 5% hike in Santa Barbara’s 93108 to claim #7 and push Santa Barbara down to #8.
Newport Beach also reached new heights with 92661 placing #9 at $4,293,000 after its median sale price shot up 30% Y-o-Y. This secured the town’s highest position yet and set a new pricing record. Finally, Rancho Santa Fe’s 92067 also set a new record for the municipality — as well as San Diego County — after its median grew 26% to reach $4,275,000 to become the #10 most expensive zip code in the U.S.