The Most Expensive Zip Codes in America Post-Covid-19

The PropertyClub Team
Sep 8th 2020
How is coronavirus impacting the US luxury real estate market? We’ve taken a look at the most expensive zip codes in the nation. Here’s what we found.

Key Findings

  • Over two-thirds of the nation's priciest zip codes are in California.
  • Urban areas are struggling to attract buyers as approximately 80% of the nation's priciest zip codes are in suburban settings.
  • The 10-most expensive zip codes in the nation are all in suburban settings.
  • 18 zip codes boast a median sale price above $3,000,000.
  • The nation's 125 most expensive zip codes are located in 15 states.

Suburban Zip Codes Dominate the Rankings As Cities Struggle

With the Covid-19 pandemic raging, and buyers preferring to leave cities, over 80% of America's most expensive zip codes are now located in the suburbs. Notably, America's ten most-expensive zip codes are all in suburban settings.

Only 3 of the nation's 25 most expensive zip codes are in urban settings, and all 3 are in Manhattan.

California is Home to 67% of the Most Expensive Zip Codes in America

With 87 entries on our list, the Golden State is home to over two-thirds of the country's most expensive zip codes. This includes 94027 in Atherton, CA, which took home the number one ranking with a median sales price of $6,690,000 as well as 6 of the 10 most expensive zip codes.

Notably, Beverly Hills' 90210 was the second most expensive zip code in the nation, with a median sales price of $4,084,000.

California's cities also boast some of the most expensive real estate in the country, with 9 San Francisco, 7 Los Angeles, and 2 San Jose zip codes making the list.

New York Is Home to 19 of the Most Expensive Zip Codes in America

The Empire State is home to 19 of the nation's top 125 zip codes and 5 of the top 25 most expensive zip codes. They include 11962 in Sagaponack, NY, which, with a median sales price of $3,795,000, is the 3rd most expensive zip code in the country. New York City's 10013 is the second most expensive zip code in the state, as well as being 13th in the country, with a median sales price of $3,250,000.  

Overall, New York City is home to 8 of the country's priciest zip codes, all of which are in Manhattan. But Manhattan real estate has been feeling the impact of the pandemic, even being overtaken by Long Island, which had 9 entries on the list, while 2 Westchester zip codes also made the list.

The Greenwich, Connecticut area is Home to 4 of the Top 125 Zip Codes

With many Manhattanites fleeing the city, the Greenwich, CT area has experienced a flurry of activity. Greenwich's 06830 zip code is the most expensive in the area, ranking 59th nationwide with a median sales price of $1,950,000. Just behind it is 06878 in Riverside, Greenwich, which ranks 74th in the nation thanks to its $1,850,000 median sales price. 06870 in Old Greenwich and 06831 in Greenwich also make the list at 84th and 125th, respectively.

Massachusetts Boasts 4 of the Nation's Most Expensive Zip Codes

Four of the most expensive zip codes are in Massachusetts, but surprisingly, none are in Boston. The most expensive zip code in the state is Nantucket's 02554, which ranks as the 68th most expensive in the nation and where median sales prices were $1,895,000.

Boston suburbs Wellesley Hills and Weston also made the rankings as did as Edgartown on Martha's Vineyard.

3 of the Most Expensive Zip Codes in America are in NJ

While the 07620 zip code in Alpine, NJ is consistently listed amongst the nations most expensive, ranking as the 45th priciest in the nation, two other New Jersey zip codes have also broken into the top-125. 08750 in Sea Girt came in at 120th, with a median sales price of $1,537,500, and 07078 in Short Hills was tied for the 125th most expensive zip code with a median sales price of $1,500,000.

The Southeast is Home to 4 of the Nation's Most Expensive Zip Codes

Two Florida zip codes along with one Georgia and a South Carolina zip code are amongst the most expensive in the country. They include Fisher Island's 33109, an exclusive community south of Miami Beach where median home prices were $3,071,250. 33109 is the 16th most expensive zip code in America. The 31561 zip code in Sea Island, Georgia came in at 47th, with a median sales price of $2,200,000, and Sullivan Island, South Carolina's 29482 came in at 66th with its $1,900,000 average sales price while 33921 in Boca Grande just snuck in, tied for 125th, with a $1,500,000 median sale price.  

The 125 Most Expensive Zip Codes in the US Are Spread Across 15 States

While California and New York are home to 106 zip codes, comprising over 80% of the nation's most expensive zip codes, the remaining zip codes are spread across 13 other states including Massachusetts, Connecticut, New Jersey, Florida, Washington, Nevada, Georgia, South Carolina, Utah, Maryland, Arizona, Colorado, and Wyoming. 

The 125 Most Expensive Zip Codes in America

Notable Ommissions

Notable ommissions due to a lack of volume include 81656 in Woody Creek, Colorado (where median prices were $3,722,000), 96714 in Hanalei, Hawaii (where median prices were 1,975,000), and 84068 in Park City, Utah (where median sales prices were $1,977,500).

 

Methodology 

We looked at all residential sales between March 13, 2020, through September 7, 2020. For accuracy, we've only included zip codes with at least 5 closed sales. Due to a tie for 125th, this list contains 130 zip codes.