What to Know
- It comes as no surprise that living in certain zip codes provides exclusivity prompting real estate to be more expensive than other places
- Property Shark compiled its annual “Top Most Expensive U.S. Zip Codes” and certain locations in the tri-state are among the pricey batch
- The list was compiled by looking into the actual closing sale prices of residential properties as opposed to the asking price
It comes as no surprise that living in certain zip codes provides exclusivity prompting real estate to be more expensive than in other locations.
With this in mind, the real estate website Property Shark took a look at the priciest zip codes in the nation for its annual “Top Most Expensive U.S. Zip Codes” and certain locations in the tri-state area are among the pricey batch.
The list was compiled by looking into the actual closing sale prices of residential properties as opposed to the asking price.
Lo and behold, New York City makes an unsurprising appearance in Property Shark’s list. The posh zip code of 10013, home to parts of the exclusive neighborhoods of TriBeCa and Soho, claimed the No. 4 spot with a median $3,810,000 for closed sales of residential property.
Although the 10013 zip code is exclusive and ranks among the top, due to a 7 percent year-over-year dip in the median sale price, 10013 dropped below the $4 million threshold and slid down from last year’s No. 2 spot.
While the Big Apple’s 10007 zip code came in the No. 4 spot last year, it took a significant dip this year and landed on the 13th spot. This zip code covers parts of TriBeCa, the Financial District and the Civic Center. In 2017, the median sale price was about $3.99 million. However, this year the median sale price came to be just over $3 million.
Although some of its zip codes took a dip in property prices, New York City still remains an exclusive and expensive location to live in. So much so, that Property Shark determined that the Big Apple is the city with the highest number of zip codes among the priciest with 9 zip codes — tying with San Francisco.
New Jersey also managed to have two entries on the list of 2018’s most expensive zip codes. Alpine’s 07620 ranked as the 33rd most expensive with a median sale price of $2.2 million, while 07078 in Short Hills just made the list claiming the 100th spot with a median sale price of about $1.42 million
Additionally, Connecticut also ranked four zip codes among the priciest 100 in the United States, with Riverside’s 06878 being the state’s most expensive. Posting a $1,855,000 median sale price, Riverside’s 06878 grabbed the 49th spot, while Old Greenwich’s 06870, Greenwich’s 06830 and Cos Cob’s 06807 placed in the bottom half of the top 100.
Property Shark’s analysis also determined that Silicon Valley is home to 30 of the country’s priciest zip codes — the highest concentration of expensive locations.
The West Coast, is also home to the priciest state with California remaining the leading state and having the most expensive zip codes with 82 entries in the top 100 spots — including Atherton, this year’s most expensive zip code.
Atherton, a town in San Monteo County, California, reigned supreme as the priciest location in the country thanks to spike in its median sale price of $6.7 million.