The country’s top ten most expensive zip codes all have median home prices of more than $4 million, according to a report from Property Shark. This is the first time that has happened. And 30 of the top 100 priciest zip codes have median prices of over $3 million, more than twice the number of areas at that price last year.
Atherton, California — which sits outside of San Francisco in Silicon Valley and is home to tech billionaires and venture capitalists — is the most expensive zip code in the country for the fifth year in a row, with a median home price of $7.5 million. The town of about 7,000 people, which is more than 70% White, is entirely residential with 90% owner-occupied homes and no commercial zoning, according to the Census Bureau.
California is home to 70% of the priciest housing markets, with 37% in the Bay Area alone, the report found. But the county with the most zip codes on the list was Los Angeles County, with 21 zip codes in the top 100.
A zip code in the affluent Back Bay area of Boston was the second most expensive area in the US, with a median home price of $5.5 million, according to the report.
Other areas in the top ten include Sagaponack, New York, in the Hamptons; the enclaves of Medina and Mercer Island in Washington; and in California, zip codes in Santa Barbara, Santa Monica as well as Beverly Hills’ well-known 90210 zip code.
The pandemic caused some reshuffling at the top of the list. A zip code in Miami, which includes the exclusive Fisher Island, saw a 66% jump in home prices year-over-year and rose from number 23 last year to number five on the list. It is the highest ranking for a Florida zip code since 2017.
Meanwhile, a regular mainstay of the top zip codes list, New York City, did not make it into the top 20. Last year marked the first year no zip code in the city made it to the top ten, with the Big Apple falling even further down the list this year.
New York’s most expensive zip code — an area in Soho and Lower Manhattan — was the 22nd most expensive area in the country with a $3.2 million median sale price. A zip code in TriBeCa came in at number 25, with a median sale price of $3.1 million, according to the report.
While home prices went up everywhere across the country last year, the top 100 zip codes are only in 10 states: Arizona, California, Connecticut, Florida, Massachusetts, Maryland, New Jersey, Nevada, New York and Washington.