Eliza Theiss Editor’s Note: PropertyShark is saddened by the losses caused by the California wildfires. The article below is simply a presentation of hard data and in no way attempts to ignore the devastation that these areas are experiencing.
Key Takeaways:
- At $7 million, Atherton’s 94027 is the #1 most expensive zip code for the third year in a row.
- San Francisco boasts 13 of the nation’s priciest zip codes, the highest number in any city.
- California remains unchallenged in its leading position, featuring 91 zips in our top 100.
- Los Angeles County is the most expensive among counties, contributing 21 of the priciest zips in the U.S.
- The Bay Area is still the most exclusive metro, originating 55 of the country’s top zip codes.
- Brooklyn breaks into the top 100 for the first time with Red Hook & Carroll Gardens zip
- Nationally, 14 zip codes posted median sales prices above the $3 million mark.
- The priciest 100 zip codes are located in 11 states.
Ranking the Priciest U.S. Zip Codes by Closed Home Sales
PropertyShark has been tracking the most expensive U.S. zip codes for years, analyzing nationwide residential transactions to provide the most accurate snapshot of the nation’s most expensive markets. In order to create the most accurate benchmark, year-to-date residential sales were analyzed to determine the median sale price of each zip code. Due to a large number of ties in medians, 125 zip codes made the list as the 100 most expensive.
Calculating medians based on sale prices rather than asking prices more accurately reflects the reality on the ground in the country’s most cutthroat markets – where low supply pairs with high demand, often pushing sale prices above the initial asking figures. It also ensures that ultra-luxury properties – which generally spend extended periods of time on the market and often sell with notable price cuts – don’t skew the numbers away from what the market is actually willing to pay.
Explore last year’s ranking here.
Beyond California and New York, Nine States Rank Zips Among the Nation’s Priciest
As has increasingly been the case throughout the years, California was once again the uncontested leader of pricey zip codes. Hitting an all-time high in 2019, California claimed a jaw-dropping 91 zip codes of the 125 zips featuring the 100 most expensive medians, including 6 of 10 priciest. And, although New York State is far from a true rival of California’s sky-high residential prices, it remained the East Coast’s most expensive market, ranking 18 zips in our top 100 – the second-highest number and just one zip less than last year.
California’s growing domination of our top 100 comes as no surprise, considering the dynamic price growth recorded in the state’s most important metros. Nearly half of Metro L.A.’s markets saw their medians rise at least 20% in just five years, while a third of the Bay Area underwent price surges of 40% or more.
Although California and New York State completely dominated 2019’s top 100, isolated pockets of extreme affluence and luxury real estate meant that the zip codes of nine additional states made the ranking zips. Specifically, Connecticut and Massachusetts each contributed three zips, New Jersey, Nevada and Washington had two each, and Arizona, Florida, New Hampshire and Maryland are each represented by one zip.
Looking at overall numbers, 63 zip codes experienced contractions in their median sale price compared to year-ago figures, 38 zip codes saw their medians climb – including the spectacular 71% price surge recorded in Brooklyn’s 10001 – and 4 zip codes’ medians were unchanged. An additional 20 zips are new compared to last year’s ranking.
California and New York Claim Top 5, Maryland Takes #100 Most Expensive Zip
Furthermore, 14 zip codes posted medians above the $3 million mark this year – one less than in 2018. However, the 5% price growth registered in Atherton, California’s 94027 resulted in a historic high, making 2019 the first year in which a zip code’s median sale price surpassed $7 million. As expected, this made Atherton’s 94027 the #1 most expensive zipcode in the U.S. in 2019 with a median sale price of $7,050,000. This was also the second year in a row that growth in Atherton’s median made headlines. A year ago, Atherton asserted itself with a 35% jump in its median.
Sagaponack, New York’s 11962 also held onto its position from last year, although with a significant 22% price contraction from 2018’s $5,500,000. As such, Sagaponack’s 11962 ranked as the #2 most expensive U.S. zip code in 2019 with a median sale price of $4,300,000. This also made 11962 the most expensive zip code in New York State, and, naturally, the most expensive East Coast zip.
Up two positions from last year, Santa Monica, California’s 90402 was the #3 most expensive zip code in the U.S. with a median sale price of $4,154,000. This was the result of a 10% year-over-year increase in 90402’s median and a 23% contraction in the median of Boston’s 02199, which had ranked third in 2018.
California claimed the fourth spot, as well, with iconic Beverly Hills zip 90210 , which posted a $4,080,000 median sale price, up 27% from last year’s figure. The top five was completed by another New York State entry: NYC’s 10007, which also underwent a 27% price increase, reaching a 2019 median sale price of $3,900,000.
On the opposite end of the spectrum was Gibson Island, Maryland’s 21056, which ranked as the 100th most expensive zip code in the U.S. with a median sale price of $1,401,000. Although 2018’s 100th priciest zip – 07078 in Short Hills, NJ – featured a slightly higher median of $1,426,250, that is less a result of decreasing prices, and more a consequence of the even larger number of ties in this year’s rankings.
L.A. County Most Exclusive in the U.S., Boasts 21 of the Most Expensive 100 Zips
California continued its relentless price growth in 2019, contributing 91 of the total 125 zip codes with the 100 most expensive medians. California was also home to the most expensive county in the U.S., as L.A. County logged a whopping 21 zip codes among the nation’s 100 priciest, followed by fellow Californians Santa Clara County, San Francisco County and San Mateo County with 17, 13 and 11 zip codes, respectively.
L.A. County’s performance came as the result of accelerated price growth in the area – between 2014 and 2018, seven L.A. County markets saw their medians surge 40% or more. Although price growth was not as fast-paced in the City of Los Angeles itself, six L.A. zip codes ranked among the year’s most expensive.
90049 was L.A.’s most expensive zip code in 2019 with a median sale price of $2,088,000. Ranking 37th nationally, the Brentwood zip was down seven spots compared to last year due to a 7% drop in its median. Next, 90077 was L.A.’s second-most expensive zip code – and 56th nationally – with a median of $1,758,000. Covering Bel Air and part of Beverly Glen and Holmby Hills, 90077 dropped 22 positions compared to last year as its median shrank 19%.
Featuring a median price of $1,675,000, Beverly Grove’s 90048 was the city’s third-priciest zip code. Nationally, the West Hollywood zip tied with 90254 in Hermosa Beach for the 66th spot, thanks to a 5% uptick in its median. L.A. also claimed #67 with neighboring 90036. Covering parts of La Brea, Fairfax, Melrose, Brookside, Beverly Grove and Miracle Mile, it featured a 2019 median sale price of $1,673,000.
Bay Area Remains Most Expensive Metro, Home to 55 of the Country’s Priciest Zips
L.A. County may have claimed the highest number of zips, but the Bay Area claimed the title of most expensive metropolitan area. Clusters of extremely expensive zips from San Francisco, San Mateo, Santa Clara, Marin and Alameda counties resulted in the Bay Area totaling 55 of the country’s most expensive zips. This is to be expected, considering the dizzying pace of price growth in the Bay Area. After all, one-third of the metro saw their medians increase 40% or more in just five years.
Atherton’s 94027 was, of course, the priciest Bay Area zip code in our top 100, followed by Palo Alto’s 94301. Covering Downtown Palo Alto and parts of Crescent Park, 94301 ranked #7 nationally with a $3,522,000 median, down 6% year-over-year. This was followed by another Santa Clara community – 94022 in Los Altos – Silicon Valley’s third-priciest zip code at $3,450,000.
Marin County’s 94957 rounded out the national top 10, clocking in at $3,350,000. Located in Ross, 94957 climbed 13 positions since last year and ranks as the most expensive zip code in North Bay. This was the result of a 31% appreciation of the 94957 median – the fourth-fastest growth rate among this year’s top 100.
The North Bay also provided the second-fastest growth rate with Stinson Beach’s 94970, which saw its median expand 33% year-over-year. At $2,800,000, its zip ranks #16 nationally, up 23 positions since last year.
Boasting 13 Top Zip Codes, San Francisco Is the #1 Most Expensive City
Of course, when it comes to pricey zip codes, San Francisco is unavoidable. In fact, the city’s share of PropertyShark’s top 100 zip codes has grown year after year: while 2016 saw seven zips appear among the nation’s priciest, that figure rose to nine zips in 2018. In 2019, San Francisco boasted 13 of the 100 most expensive U.S. zip codes, the highest number from any city.
Covering the notoriously expensive Marina District and Cow Hollow, 94123 was San Francisco’s most expensive zip. Its $2,005,000 median places it #38 nationally – tied with Redwood City’s 94062 – up two spots from last year, despite a 3% dip in its median.
Two more San Francisco zips ranked among the 50 priciest U.S. zips: 94118 and 94114. Covering Jordan Park, Laurel Heights, Presidio Heights, Inner Richmond, Richmond District and Lake Street, 94118 placed 40th with a median of $1,985,000, while 94114 claimed #49. Home to The Castro, Corona Heights, Dolores Heights and parts of Noe Valley, 94114 was up from #60 due to a 7% uptick, posting a 2019 median of $1,850,000.
At $3.2M, Medina’s 98039 the Priciest West Coast Zip Outside California
Outside of California, the State of Washington was the only other West Coast presence among the priciest 100 U.S. zip codes. The Evergreen State contributed two zips to this year’s rankings – both, naturally, from King County. A new entry at #80, Mercer Island’s 98040 broke into the top 100 thanks to a $1,538,000 median sale price, tied with Del Mar’s 92014 in California.
Meanwhile, a veteran of pricey zip code rankings, Medina’s 98039 almost broke into the top 10, but settled at #12 with a median sale price of $3,200,000. Still, the waterfront zip climbed three spots compared to last year, thanks to a 5% bump in its median. Actually, 98039 has been steadily climbing for the past few years, ranking 22nd in 2017 after landing 35th in 2016.
Brooklyn Breaks into Top 100 with $1.45M Carroll Gardens & Red Hook Zip Code
No stranger to expensive zip codes, New York State boasted the second-highest number of pricey zip codes in our top 100. All in all, 18 New York zips rank among the most exclusive nationally, including Sagaponack’s 11962, the second-most expensive U.S. zip code. But, as the East Coast’s real estate heavyweight, New York State claimed two additional spots among the nation’s 10 priciest zips with 10007 and 10013.
At $3,900,000, NYC’s 10007 ranked as the 5th most expensive zip code in the U.S., and the #1 most expensive in NYC. The Manhattan zip code covers parts of TriBeCa, the Financial District and the Civic Center, so – considering the price performance of these neighborhoods in 2019 – it’s no surprise that 10007’s median was up 27% year-over-year, bringing 10007 up from last year’s #13 position. Including parts of exclusive neighborhoods like SoHo and, of course, TriBeCa, 10013 saw its median contract 8% year-over-year, placing the zip at #8 nationally.
As expected, NYC featured the second-highest number of expensive zips – 10 – outpaced only by San Francisco. But, NYC was also the city of extremes in 2019, featuring both the zip code with the highest price gain and the most significant price drop. Covering parts of Greenwich Village, SoHo and Nolita, 10012 saw its median tumble 31% year-over-year. At $1,643,000, zip 10012 slid from #26 last year to its current position as the 69th priciest nationally.
Meanwhile, Manhattan’s 10001 surged 71% year-over-year, thanks to Hudson Yards’ price performance. After all, in Q3 2019, Hudson Yards dethroned TriBeCa as NYC’s most expensive neighborhood for the first time in almost two years. With a median sale price of $2,525,000, zip 10001 placed 24th nationally, up from last year’s #92.
This also marks the first year that a Brooklyn zip code ranks among the 100 most expensive in the U.S. Covering Red Hook and Carroll Gardens, 11231 reached a median sale price of $1,450,000 – tying with another NYC zip, the Upper West Side’s 10024 – for the 95th place. This was a result of Carroll Gardens’ price performance, which registered a 28% expansion year-over-year.
All in all, New York State’s zip codes that ranked among the country’s most expensive are, as expected, clustered in and around NYC: nine zips are located in New York County, four in Suffolk County, three in Nassau County, one in Kings County and one in Westchester County.
Boston, Connecticut and New Hampshire Zips Claim 7 Zips for New England
New England’s performance in 2019 was somewhat weaker, ranking only seven zips, as opposed to 10 in 2018. In particular, Massachusetts contributed three zip codes, a drop from last year’s record six, as medians declined. Boston’s 02199 was the most expensive zip code in both Massachusetts and New England with a median sale price of $3,669,000. The Prudential Center area of Back Bay slid from last year’s #3 – its highest ranking ever – after a 23% contraction of its median, and claimed #6 nationally.
Massachusetts’ next zip code came in at #90, as 02481 in Wellesley Hills dropped one spot. The Norfolk County area managed a $1,474,000 median sale price, making it New England’s fifth-priciest zip. Meanwhile, Weston’s 02493 was the last zip to make the cut, claiming #98 with a $1,437,000 median. The Middlesex County zip dropped 14 spots from last year because of its 5% price contraction.
Connecticut medians were also on the decline in 2019; as a result, the state recorded one less zip among the 100 most expensive Connecticut’s priciest zip code was 06878 in Riverside, which also ranked as New England’s 3rd most expensive zip. Its median sale price depreciated 12% year-over-year, hitting $1,630,000 in 2019. As a result, 06878 dropped from #49 to #70 nationally.
Connecticut also claimed #71 with Old Greenwhich’s 06870, another Fairfield County zip, while Greenwich’s 06830 ranked 95th. Their medians came in at $1,625,000 and $1,450,000, respectively.
However, New Hampshire made its way into the country’s 100 most expensive zip codes; 03781 in Rye Beach came in strong, landing at #46 with a $1,900,000 median sale price. The Rockingham County zip shared its spot with 92651 in Laguna Beach, California.
Mid-Atlantic Region Ranks with 3 Zips from Maryland and New Jersey
The Mid-Atlantic region was represented by New Jersey and Maryland with a total of three zip codes. The Mid-Atlantic’s priciest zip was 07620 in Alpine, NJ, which ranked #53 nationally with a $1,785,000 median sale price. The Bergen County zip was down 20 positions compared to last year as its median contracted 19%. Monmouth County contributed New Jersey’s second ultra-pricey zip. At $1,500,000, Deal’s 07723 shared #85 with San Francisco’s 94110.
Maryland’s 21056 in Gibson Island just barely made the cut, ranking as the 100th most expensive zip code in the U.S. with a median sale price of $1,401,000. The Anne Arundel County zip dropped from #68 to #100 due to a 15% median sale price contraction.
Miami Beach Contributes the Only Top 100 Florida Zip Code
The Eastern seaboard had one more zip code for our top 100, with 33109. The Miami-Dade County zip saw its median sale price drop 26% year-over-year. As a result, Miami Beach’s 33109 dropped from last year’s #10 to #30 in 2019, posting a $2,400,000 median sale price – a far cry from 2018’s $3,250,000.
Arizona Muscles in with Paradise Valley, Nevada Ranks Two Zips for the First Time
With a median sale price of $1,461,000, Paradise Valley’s 85253 ranked as the 93rd most expensive zip code in the U.S. This marked the first time ever that Arizona made an appearance among the country’s 100 most expensive zip codes. The Maricopa County zip code has been the leader of ultra-pricey Arizona real estate for years now.
Nevada was on the rise, too, contributing two zips codes for the first time. Glenbrook’s 89413 came in strongest, finishing at #55 with a $1,760,000 median sale price. The Douglas County zip code returned to its usual middling position this year, dropping from 2018’s #37 – an all-time high – due to a 16% drop in its median. Similar to Paradise Valley, Crystal Bay’s 89402 is also a newcomer. However, the Washoe County zip code made a strong appearance, ending up at #64 with a median sale price of $1,685,000.
Check out 2018’s rankings here. For the full list of 2019’s top 100 most expensive zip codes in the U.S., explore the table below:
Methodology
To determine the most expensive zip codes in the U.S., we looked at residential transactions closed between January 1, 2019, and November 05, 2019, taking into account condo, co-ops, and single- and two-family homes. All package deals were excluded.
For an accurate representation, we considered only zip codes that registered a minimum of three residential transactions.
Due to a number of ties, 125 zip codes made it into our top of the 100 most expensive zip codes in 2019.
Median sale prices were rounded to the closest $1,000.
Corrections:
- A previous version of this report stated that 51 Bay Area zip codes rank among the top 100 most expensive. The actual figure is 55.
- A previous version of this report stated that 5 Los Angeles zip codes rank among the top 100 most expensive. The actual figure is 6.
