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As a rule, home prices in America have been declining this year. But among the 10 most expensive ZIP codes, there are exceptions. In fact, median house prices in America’s priciest ZIP, Atherton, California, shot up 40% to $8.3 million, which is double the median home price in the 10th most expensive neighborhood, Rancho Santa Fe, California, where the median is $4.25 million.
It’s all painstakingly detailed in real estate data company Property Shark’s annual list of America’s 100 most-expensive ZIP codes. Atherton has topped the list several years running.
More than half of the cities on the list experienced median home price drops. By comparison, in 2022, only 15 of the top 100 metros declined.
But, as Property Shark author Evelyn Jozsa puts it, “The most exclusive areas in the country are still experiencing growth, defying the overall trend of declining prices."
America’s four most expensive neighborhoods recorded median prices of more than $5 million. Thirteen ZIP codes registered prices above $4 million. Of the 122 ZIPs on the list (due to some ties), just 29 posted median prices below $2 million, and even those were all above $1.8 million.
For the first time in history, two cities—that is, Atherton and No. 2 Sagaponack, New York, a village in Long Island’s Hamptons—surpassed year-over-year median home prices of $8 million.
Eleven states are on the list of 100, but 65% of the priciest ZIP codes are in California. Los Angeles County occupies 20 spots on the list, and, data reveals, is the absolute priciest region in the nation. The Bay area claims 37 spots on the list (compared to its 46 in 2022).
The highest concentration of costly ZIP codes is in the New York City region.
New to Property Shark’s list is Stinson Beach, California, with a median price of $4.5 million, and Water Mill, New York, also with a $4.5 million median house price.
Florida’s Fisher Island, 33109 in Miami Beach, has secured a spot on the top 10 several years running, according to Property Shark. This year it hit No. 3, a notch up from last year. 33109 was one of few ZIPs to experience home price increases, with medians up by 6% to $5.5 million.
Median home prices in Northern California’s Stinson Beach shot up 27% since 2022 when it ranked No. 21. This year it shares sixth place with Water Mill, New York, which, like Sagaponack, is on Long Island. Prices in Water Mill were up 22% since last year.
Newport Beach’s 92661, Santa Monica’s 90402, and Medina, Washington’s 98039 (famously, home to Jeff Bezos and Bill Gates, according to Property Shark) also made the top 10.
Returning to the top 100 after dropping off in years past, Maryland’s Gibson Island comes in at No. 45 with a median home price of $2.53 million.
Property Shark bases its list on closed home sale prices. For a full explanation of the methodology and a comprehensive report on the 100 priciest ZIP codes, visit propertyshark.com.
