In America’s Most Expensive ZIP Code, Homes Sell for $12 Million
For most Americans, times are tough right now. The current inflation rate is nearly 3 percent, and prices are 24 percent higher today than they were before the 2020 pandemic. Potential homebuyers are also in a bad spot: Though mortgage rates have fallen somewhat, they’re still sitting above six percent. But in some parts of the country, people aren’t feeling the pinch in the same way. Realtor.com has just released its annual report of America’s 10 most expensive ZIP codes. Except for one Florida locale, they’re all in just two states. And homes in the top spot mostly all list for at least $12 million.
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These are America’s 10 most expensive ZIP codes.
Realtor.com just released its annual list of America’s 10 most expensive ZIP codes.
“While these ZIP codes make up only a sliver of the U.S. housing market, just 0.1% of all for-sale properties, they show where the wealthiest buyers, and their dollars, are concentrated,” said Anthony Smith, a senior economist at Realtor.com, in a press release.
“In a country where a $1.3 million home marks the entry point to the top 10%, these neighborhoods operate on a completely different scale, where breathtaking views and unmatched exclusivity set the standard,” he continued. “They are the markets that capture the attention of the wealthiest buyers, concentrate extraordinary amounts of capital, and define what ultra-luxury living means in America today.”
So, without further ado, here are the priciest ZIP codes in the U.S., along with their median listing price:
10. Malibu, CA (90265): $5,971,250
9. Rancho Santa Fe, CA (92067): $6,075,000
8. Water Mill, NY (11976): $6,845,000
7. Beverly Hills, CA (90210): $6,869,000
6. Hope Ranch – Santa Barbara, CA (93110): $6,874,000
5. Montecito – Santa Barbara, CA (93108): $6,995,000
4. Bel Air – Los Angeles, CA (90077): $8,234,750
3. Bridgehampton, NY (11932): $8,495,000
2. Newport Coast – Newport Beach, CA (92657): $9,099,000
1. Fisher Island – Miami Beach, FL (33109): $11,925,000
Clearly, the most expensive places to live in the country are Southern California, the Hamptons in New York, and one very exclusive island in Miami. According to the report, the majority of these homes “are among the top 1% priciest listings within the U.S.–a tier for those priced $5.7 million and up.”
And it’s not just the prices that are big numbers; the square footage is too. Realtor.com notes that the median size of a home in the U.S. is about 1,850 square feet. But for this list, it ranges from 3,400 square feet in Malibu to more than 6,700 square feet in Rancho Santa Fe.
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What to know about Fisher Island:
Of course, this list has everyone curious about the ultra-rich Fisher Island, an exclusive enclave in Miami Beach.
“Every single home currently for sale here is priced above $1 million, and the 90th percentile price climbed nearly 19% year-over-year to $35 million,” Realtor.com shares. “Homes on the market here average around 3,835 square feet, offering spacious layouts despite the island’s limited footprint.”
Fisher Island has become a celebrity hotspot thanks to the fact that it’s only accessible by ferry, boat, or helicopter, according to the Jills Zeder Group. Past and current big-name residents include Oprah Winfrey, Jack Nicholson, Mel Brooks, and Julia Roberts.
“All residences are condos or villa-style units with water views, oversized terraces, and layouts built for either seasonal or full-time living,” the Jills Zeder Group explains. They add that potential buyers must first be accepted to the Fisher Island Club if they want to purchase property, which requires Board approval.
Most listings here never even hit the public market.”Most serious buyers rely on private networks or early access from experienced agents,” the real estate group explains.