Home prices were on the upswing in even more locations this year than last, with 86% of the 100 priciest zip codes in the U.S. experiencing increases, according to a new study from PropertyShark.
PropertyShark’s annual ranking of the 100 priciest zip codes in the U.S. by closed home sales found that overall, 2022 median price changes ranged between +39% and -41%. Nationally only 27 zip codes of the 128 in the top had medians under $2 million.
Additionally, Atherton’s 94027 remained as the #1 most expensive zip code in the U.S. at a jaw-dropping $7.9 million median sale price, after a 6% year-over-year increase.
Key highlights:
- The Hamptons’ Sagaponack returned to its #2 spot with a $5.75 million median. Sagaponack’s 11062 was the second-priciest U.S. zip code for several years.
- The #3 priciest U.S. zip code for the first time ever, 94957 in Ross, California, posted a $5.5 million median. This was after an increase of 20% or nearly $1 million year-over-year. Notably, Ross has been steadily climbing in the rankings since 2016, when it was #11 in the country.
- The four priciest counties, the most expensive metro (the Bay Area with 46 zips), four of the five priciest cities, and seven of the 10 most exclusive zips were all in California. The sharpest median increase was also in California: 92014 in San Diego County grew 39% year-over-year.
- New York had the second-highest number of zips with 17 entries, representing 13% of the richest zip codes. It was followed by Massachusetts with six zips, where 02199 slipped out of the top 10 after undergoing a price drop of -41%.
- Los Angeles County is the country’s priciest county with 21 zips, followed by Santa Clara and San Mateo counties.
- NYC and LA contributed six zip codes each to the highest concentration of expensive zip codes, overtaking San Francisco for the lead after five years. Just behind them, San Francisco tied for #2 with Newport Beach, California, contributing five zips each.
Major takeaway:
“Once again, ranking zip codes by median sale prices—calculated from actual closed sales to reflect real market conditions, instead of listing prices that represent sellers’ goals—this year’s top 100 proved that the wealthiest zip codes for real estate have overwhelmingly become even more expensive,” said Eliza Theiss, senior writer for PropertySHark and author of the report. “Specifically, the five priciest zips in the country posted medians of $5 million or more, with a total of 14 zips surpassing the $4 million threshold. In fact, of the 128 zips on our list, only 27 had medians below $2 million—and those, too, stayed above $1.7 million.”
For the full report, click here.
