The Most Expensive ZIP Codes in the U.S. for Real Estate

Nowadays, it feels like home prices are too high, no matter where you live. However, there are some ZIP codes whose prices immediately prevent most people from even dreaming of buying in those neighborhoods.

These ZIP codes have various factors that justify their absurd price tags, such as nearby amenities, community, and planned developments.

Homebuyers and real estate investors must understand what contributes to real estate value, as this determines whether a listed price is worth considering. This knowledge will also convey how the area’s value will change in the future.

What Makes a ZIP Code Expensive?

Typically, there isn’t one reason behind high property prices in an area. It’s a combination of several factors that make a truly desirable area.

Location

Access to coastlines, interesting landmarks, major cities, and other attractions plays a critical role in determining a ZIP code’s value. Lifestyle is strongly tied to location via surrounding activities and people, making certain ZIP codes more appealing and expensive.

Real Estate Demand

High-cost areas often have limited availability and are quickly taken off the market. This increased scarcity drives up competition and prices. Investors often have a tougher time getting into neighborhoods with tight zoning laws or limited plots.

Amenities

Neighborhoods benefit significantly from having specific amenities within a short travel distance. Places like shopping districts, acclaimed restaurants, recreation centers, and quality schools can quickly skyrocket real estate prices.

Historical Significance

Some wealthy American families have resided in the same neighborhoods for generations, shaping the surrounding culture, architecture, and community. Old Money neighborhoods have high standards, only accepting the affluent who can maintain the property accordingly.

Economic Drivers

Proximity to economically relevant areas like Silicon Valley, Hollywood, or Wall Street is a highly desirable trait. These areas are a gathering point for skilled or high-paying professions, creating more demand for high-value property.

Exclusive Communities

Many of the most expensive ZIP codes include just one gated community or luxury development. The area code is a status symbol with the accompanying price tag. These communities often have high levels of security and privacy.

How Are the Most Expensive ZIP Codes Determined?

The most expensive ZIP codes are measured through home prices, longevity, and comparison to the national average.

Median Home Prices

Properties within a ZIP code can range wildly in price due to factors like school district boundaries, closed communities, and individual remodels. Measuring out the median home price provides the most accurate impression of the area’s value. Oftentimes, the most expensive ZIP codes are priced several times higher than the national average.

Market Trends

Investors and homebuyers should review analytics like appreciation, listing volume, and time on market. These metrics point toward ZIP codes that consistently maintain value rather than areas experiencing a temporary increase.

Comparing Across Markets

By evaluating real estate trends across different regions, researchers can determine which ZIP codes are consistently at the top in terms of pricing and desirability. You can also search and find neighborhood information by ZIP code to better understand local trends and opportunities.

The Most Expensive ZIP Codes in the U.S.

Below are some examples of the most expensive ZIP codes in America. Each locale has unique reasons behind its prices, resonating with buyers with matching lifestyles and needs. Many of these areas are also considered some of the best beach towns, offering stunning coastal views and upscale amenities.

90210 – Beverly Hills, CA

In 2024, the median home sold for just over $4 million. The 90210 is home to many celebrities and wealthy individuals, creating a highly sought-after prestige for living there. It is also host to luxury amenities with world-class restaurants and attractions like Rodeo Drive.

10013 – Tribeca, New York City, NY

Tribeca, shorthand for Triangle Below Canal Street, is one of New York’s many highly priced ZIP codes. It rests in the heart of Manhattan and commands a median home price of roughly $4.8 million.

The area’s housing primarily consists of luxury lofts renovated from historic buildings. Tribeca is also close to New York’s arts district. This combination creates an industrial, modern aesthetic, attracting affluent people searching for a more sophisticated lifestyle.

94027 – Atherton, CA

Atherton is one of the most expensive ZIP codes. It is located in Silicon Valley, a gathering place for international technological giants. This means it attracts thousands of high-income residents who are searching for family homes.

Atherton also has unique zoning regulations, creating large plots for each residential unit but limiting housing availability.

33109 – Fisher Island, FL

Fisher Island is a small, luxury island with extremely limited real estate offerings, leading to high exclusivity and prestige. The median listing home price is $7.5 million, but these prices fluctuate, rising as high as $10.8 million in December 2024.

Due to its island status, Fisher Island has superior privacy that’s attractive to people avoiding the spotlight. There are multiple private beaches, golf courses, and other luxury amenities.

98039 – Medina, WA

Bill Gates, Jeff Bezos, and other notable billionaires have called Medina home. It includes an extravagantly wealthy community in Hunts Point, which is only accessible by a floating bridge across Lake Washington.

This seclusion and privacy are the area’s most significant selling points. However, it is not just Hunts Point that has expensive homes. The median home price here is about $4.5 million.

Medina’s prices come from its proximity to Seattle’s strong technology business culture. Several prominent businesses are headquartered in the city. Additionally, many of the super-rich desire the ZIP code’s “Small Town” atmosphere while maintaining access to top-notch amenities like golf courses and Bellevue dining less than 10 minutes away.

02155 – Boston, MA (Back Bay)

Boston’s 02115 ZIP Code is home to various hospitals, cultural hubs, and superior educational institutions. Aside from student housing, the primary residents in this ZIP code are the super-wealthy individuals in the Back Bay neighborhood who are attracted by the area’s historic charms.

The Impact of High Property Prices

Excessively high property prices have both negative and positive effects on society. Real estate markets affect local economies and development plans, pricing out certain demographics or changing culture.

Wealth Distribution

The most stressful consequence of high home prices is their impact on wealth gaps. Lower—and middle-income individuals cannot afford homeownership and must rent rather than invest in themselves.

Additionally, high prices make it more likely for already affluent families to continually purchase homes for their children. This charitable act between generations provides a significant advantage over those whose parents cannot afford to help in this manner.

Real Estate Investment

Real estate investors also target areas with growing property prices, seeking to invest early. This speculation and competition drive prices higher and force out homebuyers who could afford the ZIP code under normal circumstances.

City investment properties also lead to the proliferation of luxury developments. These are not suited to the average person, resulting in ghost neighborhoods and harming surrounding communities.

Local Economies

More affluent residents mean increased economic spending power. This will benefit upscale local businesses, particularly luxury services like boutique fitness institutions and fine dining spots.

However, smaller businesses may struggle to meet new residents’ standards. This has caused a shift to local culture and replaced these businesses with more competitive services.

Factors That May Affect Property Values in the Future

People’s lifestyles and interests heavily influence real estate markets. Several emerging trends could transform some ZIP codes into high-value markets while plummeting prices in other areas.

Remote Work Trends

The growing standardization of work-from-home practices means that living near certain professional hubs is less important. High-income tech employees are not required to live near Silicon Valley or Seattle, which could boost interest in more secluded or remote regions.

Sustainability and Green Living

New generations of renters and homebuyers are placing increasingly high value on energy-efficient homes. Future developments will employ more environmentally friendly ideas, potentially lowering the appeal of older properties.

Technology and Smart Homes

Advanced smart home infrastructure, like AI thermostats and kitchens, is becoming a necessity in luxury properties. This trend could turn interest away from classical or historical properties in favor of more capable new builds for younger residents.

Changing Demographics

As younger millennials and Gen Z accumulate wealth, their preferences could reshape markets. They are building their lifestyles around these current trends and are more likely to reject older real estate prospects.