When it comes to real estate, location is crucial. A prime location can significantly influence a property’s value. In the world of luxury real estate, the most expensive zip codes reveal where affluence, desirability, and exclusivity meet. In 2024, all of the 10 most expensive zip codes are in California and New York, showcasing the allure of coastal living. Curated by Realtor.com, here is a comprehensive overview of the most expensive zip codes in America.
Why Zip Codes Matter in Real Estate
Zip codes are more than just numbers; they reflect the socioeconomic status of neighborhoods. In high-demand regions, a prime zip code often correlates with excellent schools, luxurious amenities, and exclusive communities. Understanding these zip codes can give insight into the luxury real estate market.
The 10 Most Expensive Zip Codes in America in 2024
Newport Coast, CA (92657)
- With a median list price of $11,678,350, Newport Coast tops the list.
- Exclusive gated communities like Crystal Cove and Pelican Hill drive demand.
- Stunning ocean views and proximity to high-end shopping at Fashion Island add value.
Atherton, CA (94027)
- Known for tech tycoons, this Silicon Valley enclave has a median list price of $10,288,188.
- Atherton boasts expansive estates and privacy while remaining near tech hubs like Palo Alto.
Beverly Hills, CA (90210)
- Iconic for its zip code alone, Beverly Hills maintains luxury with a median list price of $9,503,004.
- Celebrity residents, upscale shopping, and landmarks like Rodeo Drive are major attractions.
Sagaponack, NY (11962)
- The Hamptons’ premier zip code, Sagaponack, has a median list price of $9,443,646.
- Its beachfront mansions and rural charm create a unique luxury blend.
Los Angeles, CA (90077)
- Encompassing Bel Air, this zip code’s median list price is $8,851,000.
- Notable for its celebrity estates, lush landscapes, and prestigious Bel Air Country Club.
Water Mill, NY (11976)
- Median list price: $7,462,188.
- Renowned for its picturesque farmland and luxury waterfront properties.
Malibu, CA (90265)
- A celebrity haven, Malibu’s median list price is $6,803,021.
- Oceanfront estates along the Pacific Coast Highway are highly coveted.
Santa Barbara, CA (93110)
- Median list price: $6,731,146.
- Known for its Mediterranean architecture and stunning coastal views.
Bridgehampton, NY (11932)
- Median list price: $6,709,792.
- Bridgehampton features luxurious estates and equestrian properties.
Montecito, CA (93108)
- Median list price: $6,633,604.
- Famous for Oprah Winfrey’s estate and stunning coastal scenery.
Factors Contributing to High Home Prices
- Location and Scenery: Proximity to the coast, scenic views, and private communities attract affluent buyers.
- Privacy and Security: Gated communities and spacious estates offer peace of mind.
- Luxury Amenities: High-end shopping, prestigious schools, and recreational facilities boost appeal.
- Market Demand: Limited inventory and high demand in these regions drive prices up.
Trends and Future Outlook
- Sustained Demand: Despite high prices, demand remains strong due to limited inventory.
- Tech Influence: Silicon Valley wealth continues to boost Northern California zip codes.
- Remote Work Impact: The rise of remote work has sustained interest in exclusive coastal properties.
The most expensive zip codes in 2024 are dominated by California and New York, highlighting the desirability of these regions. From the tech wealth of Atherton to the Hollywood glamor of Beverly Hills, each zip code has unique factors driving its appeal. Understanding these markets provides valuable insights into the broader luxury real estate landscape.
