Where are home buyers paying the most? Mostly on the coasts, according to a new report.
Based on a ZIP Code–level analysis of closed home-sale prices, PropertyShark, a real-estate data site owned by Yardi Systems, found that, of the top 100 most expensive ZIP Codes in the U.S., 65% were in California.
On the East Coast, New York City had the highest concentration of pricey postal codes for home buyers, the report said.
The analysis of ZIP Codes was based on the actual sale prices of homes, not their asking prices, PropertyShark noted. “Whereas asking prices reflect sellers’ wishes, calculating medians based on sale prices reflects the transactional reality on the ground,” PropertyShark said.
The most expensive ZIP Code in the U.S., 94027, in Atherton, Calif., has been a longtime leader, the report said. The median sale price of a home there was a cool $8.3 million. The Bay Area town, in San Mateo County, is home to some rich and famous people, including NBA star Steph Curry and his wife, Ayesha; tech billionaire Marc Andreessen and his wife, Laura; and others.
Curry and Andreessen have opposed denser and more affordable housing developments in their neighborhoods, earning them criticism as “NIMBYs,” for Not In My Backyard. “Atherton is almost exclusively zoned for single-family homes, with a one-acre minimum lot requirement dating back to the 1920s,” the PropertyShark report stated.
Across the country, New York City had the highest density of expensive ZIP Codes, with eight spread across Manhattan, Brooklyn and Queens.
The Hamptons town of Sagaponack (11962), a Long Island enclave popular with celebrities, ranked No. 2 on the list, with a median home price of $8,075,000.
Nationally, the median home price, meaning the price in the exact middle of the price range, was $394,400 as of September, according to the National Association of Realtors.
These are the most expensive ZIP Codes in America as of 2023, according to PropertyShark:
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Atherton, Calif. (94027)
- Median home-sale price in 2023: $8,300,000
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Sagaponack, N.Y. (11962)
- Median home-sale price in 2023: $8,075,000
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Miami Beach, Fla. (33109)
- Median home-sale price in 2023: $5,500,000
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Santa Barbara, Calif. (93108)
- Median home-sale price in 2023: $5,000,000
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Beverly Hills, Calif. (90210)
- Median home-sale price in 2023: $4,800,000
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Stinson Beach, Calif. (94970)
- Median home-sale price in 2023: $4,500,000 (tie)
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Water Mill, N.Y. (11976)
- Median home-sale price in 2023: $4,500,000 (tie)
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Newport Beach, Calif. (92661)
- Median home-sale price in 2023: $4,495,000
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Santa Monica, Calif. (90402)
- Median home-sale price in 2023: $4,489,000
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Medina, Wash. (98039)
- Median home-sale price in 2023: $4,388,000
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Rancho Santa Fe, Calif. (92067)
- Median home-sale price in 2023: $4,248,000
Read on: This U.S. city has the highest share of superrich residents in the world — and it’s not New York, San Francisco or Seattle
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