【Epoch Times News on October 19, 2024】The US online real estate data and research company PropertyShark recently released a report on the “100 Most Expensive Zip Code Areas in the United States,” showing that California has the highest number of the most expensive zip code areas in the country, with a concentration in Los Angeles County, Santa Clara County, and Orange County.
In order to reflect the real estate market’s actual conditions, PropertyShark based its rankings on the median sold property transaction prices for each area this year. The report revealed that out of the top 10 most expensive zip code areas in the US, California claimed 7 spots; out of the top 100 (which actually includes 121 locations), California accounted for 80.
The zip code 94027 in Atherton, San Mateo County, in the San Francisco Bay Area, had a median sale price as high as $7.9 million, holding the top spot for 8 consecutive years. Last year, the local median house price exceeded $8 million, but this year it has dropped by $400,000.
In Santa Barbara County, Southern California, the zip code 93108 ranked 5th with a median house price of $4.41 million, a 1% increase compared to last year.
Newport Beach in Orange County claimed 3 spots in the top 10, with zip codes 92661 (6th), 92657 (7th), and 92662 (8th), having median house prices of $4.76 million, $4.72 million, and $4.65 million, respectively. Among them, the zip code ranking 7th is in Newport Coast, with the median price soaring by $545,000 compared to last year.
With three expensive zip codes coexisting in the same small city, Newport Beach has become one of the most expensive cities in the US, alongside Los Angeles in terms of property prices.
Rancho Santa Fe in San Diego County, zip code 92067, took the 9th spot, with a median transaction price of $4.55 million. This is its third consecutive year ranking in the top 10. This zip code is popular among athletes, celebrities, and corporate executives.
The 10th spot goes to zip code 90402 in Santa Monica, Los Angeles County, with a median transaction price of $4.41 million. The city ranked 3rd in the US for the most expensive zip code areas in 2019 and 2020, but its housing price growth has been surpassed by many other areas.
The famous affluent area of Beverly Hills in Los Angeles was ranked 5th last year but dropped to 13th this year due to a decrease in the median house price by $800,000 to $4.01 million.
California houses four of the “most expensive” counties in the US: Los Angeles County ranks first, with 18 of the top 100 most expensive zip code areas; Santa Clara County, home to Silicon Valley, comes in second with 16 expensive zip code areas; Orange County has 11; and San Mateo County in the western part of the San Francisco Bay Area has 9.
In the top 10 most expensive zip code areas, New York City takes the 2nd and 3rd spots, being zip codes 11962 in Sagaponack and 11976 in Water Mill, with median transaction prices of $5.95 million and $5.89 million, respectively. These zip codes are located in the East End of Long Island, renowned as New York’s famous affluent areas. The real estate market in Water Mill has been booming this year, with a 31% increase in median price compared to last year.
The 10th spot is held by Miami Beach in Florida, with zip code area 33109, having a median house price of $5.75 million, ranking 4th. ◇