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Expensive Property

A Look at the Top Ten Most Expensive Property in America

We all love looking at the property of the rich and famous. However, do you actually know where the most expensive places to live are in the United States? Property Shark – the real estate blog – released its annual ranking of the top 100 priciest zip codes in America this week and there is an interesting mix of locations featured.

With 125 zip codes actually making the list due to the large number of ties in medians, it is clear that the richest citizens live in California with 91 percent of the cities listed based in the Golden State and areas such as the Bay Area enjoying a price increase of at least 40%. Based on median sale prices rather than asking prices to reflect a more realistic market, a Brooklyn zip code has made the list for the first time thanks to an amazing 71% price increase over the last two months, as well as areas in Washington, Florida, New York and Massachusetts.

However it appears that 63 of the zip codes featured saw a contraction in their median prices compared to figures released in 2018. 38 zip codes had an increase in their median prices and there were 20 new areas added to the list.

We take a look at the top ten expensive zip codes to buy property here:

#10 Ross, California – 94957

Located to the north of San Francisco, Ross in California has climbed 13 positions in the last year to make it into the top ten and is now North Bay’s most expensive zip code – Stinsons Beach, 94970 is their second most expensive, hitting 16 on the list.

#9 Los Altos, California – 94022

Drive an hour south of Ross and you will hit Los Altos, which has made it to number 9 thanks to having a median of $3.45 million. The Santa Clara community has recently become the third most expensive zip code in Silicon Valley with property prices continuing to increase.

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#8 TriBeCa, New York – 10013

With a median of $3.51 million, TriBeCa’s 10013 has seen real estate prices increase by 8% in the last year making it hit the top ten.

#7 Palo Alto, California – 94301

Just four miles away from the most expensive zip code in the US, Palo Alto has a median of $3.52 million. Including parts of Crescent Park as well as Downtown Palo Alto, 94301 has seen a decrease in property prices of 6% year-over-year.

#6 Boston, Massachusetts – 02199

With a population of 1,146 the Prudential Center area of Back Bay in Boston has dropped from number three to number six in Property Shark’s list thanks to a 23% contraction of its median.

#5 TriBeCa/Downtown/Manhattan, New York – 10007

With a median price of $3.9 million, this affluent area of New York saw an increase of 27% and is home to younger celebrities, including Taylor Swift, as well as Wall Street bankers.

#4 Beverly Hills, California – 90210

Once again California has claimed most of the top spots with Beverly Hills in Los Angeles, California, seeing an increase of 27% on property prices, taking their median up to just over $4 million. However their exclusive gated community of Beverly Park Circle, often described as the richest street in Beverly Hills, has a median home value of $16.4 million.

#3 Santa Monica, California – 90402

Reaching number 3 in the most expensive real estate markets is Santa Monica in California, an increase of 2 positions from last year thanks to a 10% year-over-year increase pushing it ahead of last year’s number 3 slot – Boston’s 02199 which has moved down to sixth.

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#2 Sagaponack, New York – 11962

Just missing out on the top spot is Sagaponack in New York. The most expensive area outside of California has seen a price contraction of 22%, however it has managed to maintain its position from last year.

Located in the Hamptons, the Southampton village appreciates an ocean-vista and stunning sunsets. Both are pivotal to keeping the house prices up with the media price now sitting at $4.3 million.

It is also home to junk bond billionaire Ira Rennert’s 29 bedroom summer house, complete with a 100 car garage.

#1 Atherton, California – 94027

If you have ever visited the tech-titan community of Atherton, California you will have marvelled at the stunning houses so the fact that it is the most expensive zip code in America will come as no surprise.

With companies including Facebook, Tesla and Google amongst other technology giants based in the area, Atherton has become home to many of the Silicon Valley residents.

With famous residents including former HP CEO Meg Whitman – now CEO of video startup Quibi – and Google’s Executive Chairman Eric Schmidt, property in this region can sell for an average $6.7 million, an increase of 43 per cent since 2017.