The US real estate market is in uncharted territory. In the face of growing demand and supply constraints, home values have soared recently, up 13.5% in the past year and 26.5% since the start of the pandemic. According to Realtor.com, a home sales platform and database, the national median listing price stands at $405,000, the highest on record.
Of course, in addition to the forces of supply and demand, three of the most important factors that determine home values are location, location, location. Indeed, life in some parts of the country is so desirable that most homes on the market are listed for millions of dollars.
Using data from the Realtor.com report, Wondering how high house prices can go? Here are the most expensive zip codes in America in 2022, 24/7 Wall St. has identified the 10 most expensive ZIP codes for homebuyers in the United States. It is important to note that this list is not exhaustive and only one zip code per state has been selected to ensure geographic diversity. List prices are as of March 2022, and each postal code was required to have at least 15 active listings. Demographics are from the Census Bureau’s American Community Survey and are five-year estimates as of 2020.
Among the zip codes on this list, the median market price of homes ranges from $4 million to $15 million. These places fall into one of two categories, the first being small communities located just outside of major cities. Greenwich, Connecticut, for example, where most homes sell for at least $5 million, is within driving distance of New York City (Here is an overview of the city with the shortest route in each state).
The other category that some of the places on this list fall into is resort communities – where residents have access to beautiful beaches, ski resorts, or golf courses. Here’s a look at the 50 best US cities to live in.
Click here to see the most expensive neighborhoods to buy a house