NY & Cali Dominate
In the housing market, amenities and location have as much to do with a home’s value as the everyday forces of supply-and-demand. Whereas the latter causes home values to rise and fall over time, the former creates a starting point for said values.
Where you live — and the features of your home — determine your home’s price range. Naturally, homes in some areas are consistently higher-valued than homes in others.
Using data compiled by real estate market data firm Altos Research, Forbes Magazine presents America’s 10 most expensive ZIP codes.
- Alpine, NJ (07620) : $4,550,000
- Atherton, CA (94027) : $4,295,000
- Sagaponack, NY (11962) : $3.595,000
- Hillsborough, CA (94010) : $3,499,000
- Beverly Hills, CA (90210) : $3,469,891
- New York, NY (10012) : $3,392,574
- New York, NY (10013) : $3,317,962
- Water Mill, NY (11976) : $3,300,000
- Montecito, CA (93108) : $3,099,348
- Old Westbury, NY (11568) : $3,095,000
Real Estate is Local
In fact, of the top 50 most expensive ZIP codes, only 6 are located outside of California and New York regions. 3 are Colorado resort towns — Snowmass (81654), Aspen (81611) and Telluride (81435) — one is in Maryland, one is in Florida, and the last is in Washington State.
Chicago-suburb Kenilworth (60043) is the top-ranked Midwest ZIP code. It placed 86th overall.
The Forbes list may be interesting but, to home buyers or sellers in Urbandale , it should not be the final word in home values. Real estate is a local market which means that — even within a given ZIP code — prices can vary based on street and neighborhood.
Look past general data and get specific. Talk to your real estate agent for local market pricing.
