California dominates the top of the list, with 7 of the top 10 most expensive cities to find a home.
WASHINGTON — A new ranking of the most expensive zip codes in the United States shows, unsurprisingly, a massive price difference between the cost of owning a home on the country’s coasts and the interior U.S.
The ranking of the top 100 zip codes was conducted by PropertyShark, measuring home sale prices to determine where it costs the most to live. California is one of the priciest states, with seven of the top 10 spots going to cities in the West Coast state.
But real estate in Miami Beach, Florida, is the priciest in the country, according to PropertyShark’s analysis.
Specifically, the 22109 community of Fisher Island, located just outside of Miami Beach, has seen a significant increase in value over the past year. The median home price in the area is $9.5 million. That’s up from a record-breaking median price of $5.75 million last year.
According to PropertyShark, the cheapest home there sold for $1.41 million this year. The most expensive? $23.7 million.
It’s unsurprising that Fisher Island is the highest-ranked for home prices. Located on a small barrier island of the same name, the community has had one of the highest per capita income ratios of any place in the U.S. for the past decade.
According to CensusReporter.org, the community has a median income of around $350,000, which is nearly 12 times what the average Floridian makes (around $42,000 per year).
Because it’s so pricey, the island has an incredibly low population, capping out at just over 800 residents.
But Fisher Island is the only Florida zip code in the top 10. Most of the highest spots belong to California, which holds seven of the most expensive zip codes (technically eight, but two cities in California are tied for 9th place).
The most expensive California zip code is 94027 in Atherton. The city of around 5,000 people lies just below Silicon Valley, making it a hub for the rich and powerful.
New York takes up the remaining spots on the top 10 list, with Sagaponack and Water Mill representing the Empire State.
The first zip code not in those three states is Alpine, New Jersey, which is tied with Beverly Hills for the No. 13 spot.
The first time a non-coastal state appears on the map is Paradise Valley, Arizona, which ranks 23rd.
What are the top 10 most expensive places to buy a house?
1. Miami Beach, Fla.: 33109
2. Atherton, Calif.: 94027
3. Sagaponack, N.Y.: 11962
4. Newport Beach, Calif.: 92661
5. Water Mill, N.Y.: 11976
6. Santa Barbara, Calif.: 93108
7. Stinson Beach, Calif.: 94970
8. Newport Beach, Calif.: 92657
9. Los Altos, Calif.: 94022 & Newport Beach, Calif.: 92662
10. Rancho Santa Fe, Calif.: 92067
