California and New York have the most expensive zip codes in the country
The most expensive neighborhoods in the country are once again in the coastal states. A recent report from a real estate data provider PropertyShark ranked California, New York and Florida as the states with the most expensive zip codes in 2024.
The report listed the 100 most expensive zip codes between January 1 and September 30 of this year, based on prices for closed home sales. California dominated the list, with 66% of the most expensive zip codes in the US. Los Angeles, Santa Clara and Orange counties had the highest concentrations of expensive zip codes this year.
In the most expensive neighborhood in the country – Atherton, California – the average sales price rose to $7.9 million this year. Atherton maintained its place as the most expensive postcode for the eighth year in a row. In 2023, Atherton’s average sales price was $400,000 lower than today. Behind that, six other zip codes in California – including neighborhoods in Santa Barbara, Newport Beach, Rancho Santa Fe and Santa Monica – were among the 10 most expensive places.
California may have the majority of the most expensive counties, but New York’s Suffolk County – which covers two-thirds of Long Island – follows with eight high-income neighborhoods in The Hamptons on the list. Two of these neighborhoods – Sagaponack and Water Mill – are ranked No. 2 and No. 3 nationally.
New York City is the most expensive city in the top 100, followed by Los Angeles and Newport Beach. Five Manhattan neighborhoods and one Brooklyn neighborhood make the list, with Tribeca standing out as the most expensive neighborhood. Some of the Los Angeles neighborhoods on the list included Pacific Palisades, Bel Air, Beverly Crest and Brentwood.
Together, the San Francisco Bay Area, metro LA and metro New York make up 78% of the most expensive zip codes in the country. The Miami Beach area of Florida occupies the fourth spot on the list with an average sales price of $5.7 million.
According to the report, homebuyers in these countries have boosted the luxury real estate market by 70%. Meanwhile, 67% of the most expensive zip codes saw a price increase in 2024, compared to 29% in 2023. There were 15 zip codes on the list with an average sales price above $4 million, while only 15 were under $2 million. .
