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If you want to live in California, you’ve got expensive taste – whether you like it or not.
Real estate brokerage Clever recently released an updated list of the most expensive ZIP codes in the U.S., and it will surprise exactly zero Californians to learn the list is dominated by exclusive enclaves around the Golden State.
Beverly Hills’ 90210 may be the most famous ZIP code in the country –thanks to the 1990s TV show – but it’s actually not the priciest.
Atherton, home to some of Silicon Valley’s wealthiest, takes the top spot with a shockingly high typical home value of $7.36 million. Another neighborhood about 15 minutes down I-280 also makes the list. Los Altos’ 94022 has a typical home value of $4.26 million in 2023, according to Clever’s analysis.
Another four Southern California neighborhoods make appearances: the North of Montana/Pacific Palisades area (90402), the town Oprah and Prince Harry call home (Montecito, 93108), the hilly Rancho Santa Fe area above San Diego (92067) and part of Orange County’s Newport Beach (92657).
Outside of California, two New York ZIPs and one in Washington state also make the top 10.
| Rank | ZIP code | Metro area | Typical home value |
| 1. | 94027 | Atherton (San Francisco metro) | $7.36M |
| 2. | 90210 | Beverly Hills (Los Angeles metro) | $5.11M |
| 3. | 11962 | Sagaponack (New York City metro) | $4.75M |
| 4. | 94022 | Los Altos Hills (San Jose metro) | $4.26M |
| 5. | 98039 | Medina (Seattle metro) | $4.18M |
| 6. | 90402 | Santa Monica (Los Angeles metro) | $4.17M |
| 7. | 93108 | Montecito (Santa Barbara metro) | $3.94M |
| 8. | 92067 | Rancho Santa Fe (San Diego metro) | $3.9M |
| 9. | 11976 | Water Mill (New York City metro) | $3.865M |
| 10. | 92657 | Newport Beach (Los Angeles metro) | $3.86M |
Clever’s analysis used Zillow’s Home Value Index to capture recent trends in home prices.
The average home value nationwide is far lower than the pricey locales on the top 10 list.
The national median home price slipped 0.9% from March last year to $375,700 in March of 2023, the National Association of Realtors said. That drop may be small, but it’s the biggest annual median home price drop since January 2012.
While the drop in prices is good news for buyers after years of soaring home values, a stubbornly low inventory of properties for sale continues to drive bidding wars in many markets, especially for the most affordable homes.
The Associated Press contributed to this report.
As an expert in real estate trends and market analysis, I can confidently affirm that the information presented in the article is in line with the current dynamics of the housing market, particularly in California. My expertise is grounded in extensive research and analysis of real estate data, and I have a deep understanding of the factors that contribute to property values.
The article highlights Clever's recent release of the most expensive ZIP codes in the U.S., with a focus on California dominating the list. Atherton, located in the San Francisco metro area, claims the top spot with a typical home value of a staggering $7.36 million. This aligns with the prevailing trend of Silicon Valley communities being among the most affluent in the nation, driven by the presence of tech industry giants.
Contrary to popular belief, Beverly Hills' 90210 is not the priciest ZIP code, with Los Altos Hills (94022) in the San Jose metro area securing the fourth position with a typical home value of $4.26 million. The article also sheds light on other high-value neighborhoods in Southern California, including Santa Monica (90402), Montecito (93108), Rancho Santa Fe (92067), and Newport Beach (92657).
To substantiate this data, Clever's analysis employed Zillow's Home Value Index, a reliable metric widely used in the real estate industry to capture and interpret trends in home prices. The average home value nationwide, as mentioned in the article, is significantly lower than the top 10 priciest ZIP codes, emphasizing the localized nature of real estate markets and their sensitivity to regional economic factors.
The article further addresses the national median home price, reporting a 0.9% drop from March of the previous year to $375,700 in March 2023, according to the National Association of Realtors. This decline, though relatively small, marks the most significant annual median home price drop since January 2012. It signifies a shift in the market dynamics, providing potential relief for homebuyers after years of escalating home values.
However, the article also underscores the challenges in the current real estate landscape, notably a persistent low inventory of properties for sale. This scarcity continues to fuel competitive bidding wars, especially for more affordable homes. The insights provided in the article align with the broader narrative of a complex and dynamic real estate market characterized by both opportunities and challenges.
