Thanks to Hollywood’s recent reboot obsession, anyone born after 1980 can likely name at least one California zip code: 90210. Unfortunately, we’re much less likely to be able to actually afford property within Beverly Hills – or almost anywhere else within the state.
Pretty crazy – that is if you want to live in a house with a roof over it. On the other hand, if you want to live in the back of a pickup truck, well … gas is also pretty expensive out there, so I still wouldn’t advise it. In fact, according to an exhaustive ranking by PropertyShark, California has 91 of the 100 Top Most Expensive U.S. Zip Codes in 2019.
Unless you live in California, you’ve probably never even heard of Atherton, the home of the most expensive zip code in the country: 94027. But, just how expensive is this spot? Well, the median sale price in 2019 was a cool $7+ million. To put that into perspective, all you have to do is compare it to the #2 spot – Sagaponack, New York – which has a median price of only $4.3 million.
Home to Santa Monica’s richest residents, zip code 90402 was the fifth-most expensive zip code in 2018, but it jumped two spots to number three in 2019. With a median sales price of $4.154 million, this community’s real estate market enjoyed a nice 10% bump since last year. But, that’s not the only reason it locked up the third-place spot. Adding to 90402’s dominance was the severe decline of Boston’s 02199 zip code, which previously held the #3 spot; it suffered an incredible 23% drop in its median real estate price in just a single year.
Don’t worry, 90210 hasn’t been totally knocked off its pedestal; its median sale price of $4.08 million is actually a 27% jump since 2018 and earned it the title of fourth-most expensive. Incidentally, 10007 – a New York City zip code – also went up by the same percentage to a median sales price of $3.9 million; it rounds out the top five most expensive zip codes.
Believe it or not, 21 zip codes within Los Angeles County managed to make an appearance on the list of the 100 priciest zip codes. What’s more, several other California counties pulled similar numbers: Santa Clara County is home to 17 of the top 100 most expensive zip codes, San Francisco County has 13 and San Mateo County has 11.
Are these ever-rising California real estate prices good news or bad news? That depends on your perspective; are you looking to enter the market or make a profit when you do? The answer to that question can tell you just how realistic your California dreams may be.