A Credit Karma Study
Updated
Written by: Andrew Depietro
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Though most people associate ZIP codes with the mail, ZIP is actually an acronym for Zone Improvement Plan. Established in 1963, the five-digit ZIP code program became a convenient way for the postal service to divide the country into the location of individual post offices or delivery stations.
Credit Karma conducted a study to identify the most expensive and cheapest ZIP codes in the U.S. based on home values.
Read on for details and main findings.
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Main findings on the most expensive ZIP codes in the U.S.
Most expensive ZIP codes in the U.S.
Cheapest ZIP codes in the U.S.
Most expensive ZIP code in each state
Most expensive ZIP codes for single-family homes
ZIP codes with the highest increases in home value
ZIP codes with the greatest declines in home value
FAQs about the most expensive ZIP codes
Methodology
Main findings on the most expensive ZIP codes in the U.S.
We looked at where the most expensive and cheapest ZIP codes are in the U.S. overall and in each state. We also evaluated ZIP codes by median home value for all homes in each area.
To get a broader understanding of which ZIP codes are the most and least expensive, we analyzed median home values using the 12-month average (from October 2021 to September 2022), instead of simply ranking ZIP codes by their most recent monthly home value.
Overall, California dominated the 50 most expensive ZIP codes based on the values of all homes and of just single-family homes.
When looking at the most expensive ZIP codes for all homes, eight of the top 10 ZIP codes are in California. But when it comes to the most expensive ZIP codes for single-family homes, New York state is home to six out of the top10 ZIP codes.
Most expensive ZIP codes in the U.S.
Looking at the geographic distribution of the most expensive ZIP codes in the U.S., we see that the majority of the 50 most expensive ZIP codes are in California. That holds true whether considering the value of all homes or just single-family homes.
The most expensive ZIP code in terms of home values for all homes in the U.S. is 94027, in Atherton, California, with a 12-month average value of more than $7.7 million.
When it comes to single-family homes, the most expensive ZIP code is 10065 in New York City, an area covering the Manhattan neighborhood of Lenox Hill, east of Central Park. In this ZIP code, the 12-month average home value is just over $8.2 million.
Most expensive ZIP codes in the U.S.
Nineteen of the 50 most expensive ZIP codes in the U.S. are in the San Francisco Bay Area or Silicon Valley, followed by another 15 in Southern California.
Even more striking: The median home value for all homes in the most expensive ZIP code (94027 in Atherton) has averaged more than $7 million for the past 12 months straight.
Here’s a table of the 10 most expensive ZIP codes in terms of the 12-month average median value of all homes.
10 most expensive ZIP codes in the U.S.
| Rank | ZIP code | City | 12-month avg. median home value | 12-month change |
|---|---|---|---|---|
| 1 | 94027 | Atherton, CA | $7,724,327 | 1.63% |
| 2 | 90210 | Beverly Hills, CA | $5,909,929 | 4.10% |
| 3 | 11962 | Sagaponack, NY | $5,846,077 | 8.65% |
| 4 | 90402 | Santa Monica, CA | $4,792,785 | 5.16% |
| 5 | 93108 | Montecito, CA | $4,639,650 | 17.28% |
| 6 | 94022 | Los Altos Hills, CA | $4,529,046 | 2.90% |
| 7 | 94970 | Stinson Beach, CA | $4,522,482 | 13.91% |
| 8 | 94301 | Palo Alto, CA | $4,377,669 | -0.01% |
| 9 | 94957 | Ross, CA | $4,319,641 | 14.81% |
| 10 | 92661 | Newport Beach, CA | $4,241,938 | 20.53% |
While ZIP code 94027 (Atherton) maintained a monthly median home value of at least $7 million for every month over the last year, note that its 12-month growth in value is only 1.63%. ZIP code 92661 in Newport Beach, on the other hand, had a 12-month increase of over 20%, from roughly $3.78 million in October 2021 to $4.24 million in September 2022.
The one New York ZIP code to make the top 10 list of most expensive ZIP codes — 11962 in Sagaponack — is in eastern Long Island, amid the Hamptons.
The only ZIP code to have a 12-month decline in median home value was 94301 in Palo Alto, but only by 0.01%.
Cheapest ZIP codes in the U.S.
On the other end of the spectrum, we found that the least-expensive ZIP codes geographically tend to be in the South and Midwest. The cheapest ZIP code in terms of home values for all homes — 24736 in Lashmeet, West Virginia — had a 12-month average of $16,389. West Virginia in particular, has many of the cheapest ZIP codes.
West Virginia’s 24736 ZIP code is also the cheapest when looking at single-family home values. In contrast to the most expensive ZIP codes for single-family homes, there’s less variation when comparing the cheapest ZIP codes for all homes to the cheapest for just single-family homes.
50 cheapest ZIP codes in the U.S.
Twenty-three of the cheapest ZIP codes are in a corridor through eastern Kentucky, western Virginia and West Virginia. Another geographic concentration of the cheapest ZIP codes exists along the Mississippi River, in Arkansas and Mississippi.
Some ZIP codes did not have data for October 2021, so a 12-month home value change wasn’t available for them in our table of the 10 least expensive in the U.S. Those ZIP codes for which we do have that data showed solid increases in home values over the last year.
10 cheapest ZIP codes in the U.S.
| Rank | ZIP code | City | 12-month avg. median home value | 12-month change |
|---|---|---|---|---|
| 1 | 24736 | Matoaka, WV | $16,389 | 11.65% |
| 2 | 24724 | Bramwell, WV | $17,351 | N/A |
| 3 | 72036 | Brinkley, AR | $19,383 | 13.14% |
| 4 | 72123 | Patterson, AR | $22,045 | N/A |
| 5 | 71103 | Shreveport, LA | $22,296 | 2.51% |
| 6 | 17935 | Girardville, PA | $22,601 | 6.07% |
| 7 | 25142 | Seth, WV | $22,698 | 8.60% |
| 8 | 25915 | Rhodell, WV | $22,747 | N/A |
| 9 | 25811 | Rhodell, WV | $24,201 | 6.85% |
| 10 | 24737 | Montcalm, WV | $25,028 | 6.71% |
The table shows that ZIP codes in West Virginia form the majority of the 10 cheapest ZIP codes in the U.S. The cheapest ZIP code, 24736, covers several cities, including Garwood, Covel, Dott, and the largest city, Matoaka.
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Most expensive ZIP code in each state
In addition to analyzing the most expensive ZIP codes overall in the U.S., we evaluated the most expensive ZIP code in each state — again based on each ZIP code’s 12-month average median monthly home value for all homes.
The median home values in the most expensive ZIP codes for each state span a wide range, from $424,991 in ZIP code 25443 in West Virginia to over $7.7 million in ZIP code 94027 in California (the most expensive ZIP code in the U.S. overall).
Most expensive ZIP code in each state
| State | Zip code | City or town | 12-month avg. median home value | Rank |
|---|---|---|---|---|
| Alabama | 35223 | Mountain Brook | $761,183 | 36 |
| Alaska | 99516 | Anchorage | $560,454 | 45 |
| Arizona | 85253 | Paradise Valley | $2,546,572 | 11 |
| Arkansas | 72718 | Cave Springs | $451,325 | 50 |
| California | 94027 | Atherton | $7,724,327 | 1 |
| Colorado | 81656 | Aspen | $3,647,009 | 6 |
| Connecticut | 06830 | Greenwich | $1,941,473 | 17 |
| Delaware | 19944 | Fenwick Island | $1,546,690 | 20 |
| District of Columbia | 20015 | Washington | $1,412,797 | 25 |
| Florida | 33109 | Miami Beach | $3,326,834 | 8 |
| Georgia | 31561 | Sea Island | $3,729,599 | 5 |
| Hawaii | 96712 | Haleiwa | $1,816,628 | 18 |
| Idaho | 83340 | Ketchum | $1,292,292 | 28 |
| Illinois | 60043 | Kenilworth | $1,540,111 | 21 |
| Indiana | 46290 | Carmel | $652,250 | 40 |
| Iowa | 51355 | Okoboji | $508,616 | 47 |
| Kansas | 66221 | Overland Park | $687,957 | 38 |
| Kentucky | 40025 | Louisville | $1,354,982 | 26 |
| Louisiana | 70115 | New Orleans | $587,389 | 44 |
| Maine | 04110 | Cumberland | $1,004,478 | 34 |
| Maryland | 21056 | Pasadena | $2,274,368 | 13 |
| Massachusetts | 02199 | Boston | $4,160,701 | 3 |
| Michigan | 49434 | Holland | $1,008,621 | 33 |
| Minnesota | 55424 | Edina | $940,816 | 35 |
| Mississippi | 38701 | Greenville | $616,895 | 42 |
| Missouri | 63124 | Ladue | $1,064,015 | 31 |
| Montana | 59489 | Winifred | $1,554,937 | 19 |
| Nebraska | 68461 | Walton | $612,769 | 43 |
| Nevada | 89413 | Glenbrook | $3,337,469 | 7 |
| New Hampshire | 03871 | Rye | $2,195,656 | 14 |
| New Jersey | 07723 | Deal | $2,948,860 | 10 |
| New Mexico | 87506 | Santa Fe | $1,046,788 | 32 |
| New York | 11962 | Sagaponack | $5,846,077 | 2 |
| North Carolina | 28480 | Wrightsville Beach | $1,418,405 | 24 |
| North Dakota | 58521 | Baldwin | $500,881 | 48 |
| Ohio | 44040 | Gates Mills | $621,454 | 41 |
| Oklahoma | 73151 | Oklahoma City | $545,767 | 46 |
| Oregon | 97034 | Lake Oswego | $1,132,487 | 29 |
| Pennsylvania | 19035 | Gladwyne | $1,294,971 | 27 |
| Rhode Island | 02807 | New Shoreham | $1,511,665 | 22 |
| South Carolina | 29482 | Sullivans Island | $3,177,057 | 9 |
| South Dakota | 57759 | Deadwood | $488,510 | 49 |
| Tennessee | 37215 | Nashville | $1,096,117 | 30 |
| Texas | 78746 | West Lake Hills | $2,090,586 | 15 |
| Utah | 84060 | Park City | $1,982,689 | 16 |
| Vermont | 05445 | Charlotte | $749,457 | 37 |
| Virginia | 22101 | McLean | $1,498,968 | 23 |
| Washington | 98039 | Medina | $4,109,281 | 4 |
| West Virginia | 25443 | Shepherdstown | $424,991 | 51 |
| Wisconsin | 53726 | Madison | $671,373 | 39 |
| Wyoming | 83014 | Wilson | $2,378,174 | 12 |
Wyoming’s most expensive ZIP code, 83014, is in Teton County, near the mountain resort town of Jackson Hole. In Kentucky, the most expensive ZIP code, 40025, is in the wealthy Louisville suburb of Glenview, along the Ohio River. According to the U.S. Census Bureau, the median household income in that ZIP code is more than $250,000 (with a mean household income of $480,965).
The 10 states that are home to the most-expensive ZIP codes are an interesting geographical mix. Along with states like California, New York and Massachusetts, which you’d expect to see on the list, there’s also ZIP code 31561 in Georgia. That area covers the Sea Island resort and has a 12-month average home value of nearly $3.73 million.
Another standout is ZIP code 89413 in Nevada, which lies along scenic Lake Tahoe and has a 12-month average home value of over $3.3 million.
Most expensive ZIP codes for single-family homes
A slightly different way of assessing the most expensive ZIP codes in America is to look at the highest home values for single-family homes, rather than for all homes. While many of the most expensive ZIP codes in terms of all homes and single-family homes overlap, there are some notable differences, especially among the top 10 ZIP codes.
Most expensive ZIP codes based on single-family-home values
| Rank | ZIP code | City | 12-month avg. median home value | 12-month change |
|---|---|---|---|---|
| 1 | 10065 | New York, NY | $8,201,373 | -3.50% |
| 2 | 10021 | New York, NY | $8,195,369 | -3.22% |
| 3 | 33480 | Palm Beach, FL | $8,148,796 | 37.37% |
| 4 | 94027 | Atherton, CA | $7,782,332 | 1.67% |
| 5 | 81611 | Aspen, CO | $7,598,117 | 13.50% |
| 6 | 10075 | New York, NY | $7,372,909 | -0.98% |
| 7 | 10014 | New York, NY | $6,988,625 | 10.29% |
| 8 | 90210 | Beverly Hills, CA | $6,795,993 | 4.48% |
| 9 | 10024 | New York, NY | $6,040,371 | 6.57% |
| 10 | 10128 | New York, NY | $5,967,018 | 2.90% |
Notice how the 10 most expensive ZIP codes for single-family homes largely consist of ZIP codes in New York City as opposed to the previous list’s domination by California ZIP codes.
That said, the most expensive ZIP code for single-family homes has had a 12-month decline of 3.5%, from nearly $8.44 million in October 2021 down to $8.2 million in September 2022.
ZIP codes with the highest increases in home value
The ZIP codes that have had the greatest growth in median home values over the past 12 months do not rank among the 50 most expensive ZIP codes in the U.S. These ZIP codes have 12-month home value averages ranging from $74,176 to $465,682.
ZIP codes with the highest increases in home value
| ZIP code | City | 12-month avg. median home value | 12-month change |
|---|---|---|---|
| 44606 | Apple Creek, OH | $465,682 | 66.15% |
| 44691 | Wooster, OH | $349,269 | 64.04% |
| 76849 | Junction, TX | $194,596 | 57.18% |
| 44677 | Smithville, OH | $340,831 | 52.24% |
| 44667 | Orrville, OH | $308,430 | 52.11% |
| 44214 | Burbank, OH | $417,390 | 51.31% |
| 44627 | Fredericksburg, OH | $445,127 | 51.12% |
| 44676 | Shreve, OH | $331,304 | 50.38% |
| 29320 | Spartanburg, SC | $74,176 | 47.99% |
| 44230 | Doylestown, OH | $346,210 | 44.45% |
Interestingly, the majority of the ZIP codes with the highest increases in home value are in Ohio. The growth rates are impressive, with ZIP code 44606 going from a median home value of $365,199 in October 2021 to $606,781 in September 2022 — an increase of almost 66%.
ZIP code 44691 isn’t far behind, with a 12-month growth rate of over 64%, from $289,032 in October 2021 to $474,126 in September 2022.
ZIP codes with the greatest declines in home value
On the flip side, the ZIP codes with the greatest decreases in median home values are geographically more diverse. Some of these ZIP codes, too, have high 12-month average home values, such as ZIP code 94060’s roughly $1.38 million.
ZIP codes with the greatest declines in home value
| ZIP code | City | 12-month avg. median home value | 12-month change |
|---|---|---|---|
| 82643 | Edgerton, WY | $113,646 | -24.97% |
| 94060 | Pescadero, CA | $1,376,532 | -22.90% |
| 62207 | Centreville, IL | $38,260 | -21.43% |
| 76464 | Moran, TX | $100,780 | -19.99% |
| 34498 | Yankeetown, FL | $308,330 | -19.73% |
| 78548 | Grulla, TX | $78,583 | -19.12% |
| 32625 | Cedar Key, FL | $374,016 | -19.07% |
| 95607 | Capay, CA | $889,239 | -18.71% |
| 47464 | Ellettsville, IN | $164,547 | -18.61% |
| 32626 | Chiefland, FL | $224,610 | -18.52% |
The ZIP code with the biggest drop, 82643, saw its median home value sink by almost 25%, from $129,622 in October 2021 to $97,250 in September 2022. Meanwhile, the most expensive ZIP code in the table, ZIP code 94060, saw its median home value decline from approximately $1.57 million in October 2021 to $1.21 million in September 2022.
FAQs about the most-expensive ZIP codes
In which state is the richest ZIP code?
Based on income data from the Census Bureau’s 2020 American Community Survey 5-Year Estimates, ZIP code 94027 (in Atherton, California) is the richest, with a median household income of over $250,000 and a mean household income of $482,454. ZIP code 94027 is also the most expensive ZIP code in the U.S. in terms of all homes.
What is the most expensive ZIP code in California?
The most expensive ZIP code in California, in terms of 12-month average home value for all homes ($7,724,327), is ZIP code 94027 in Atherton.
What is the most expensive ZIP code in Florida?
The most expensive ZIP code in Florida, in terms of 12-month average home value for all homes ($3,326,834), is ZIP code 33109 in Miami Beach.
What is the most expensive ZIP code in NJ?
The most expensive ZIP code in New Jersey, in terms of 12-month average home value for all homes ($2,948,860), is ZIP code 07723 in the seaside town of Deal.
What is the most expensive ZIP code in NYC?
The most expensive ZIP code in New York City, in terms of 12-month average home value ($8,201,373), is ZIP code 10065.
What is the most expensive ZIP code in Los Angeles?
The most expensive ZIP code in the city of Los Angeles, in terms of 12-month average home value ($3,750,195), is ZIP code 90272.
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Methodology
We identified the most-expensive ZIP codes in the U.S. and in every state based on monthly home value data for the 12-month period from October 2021 to September 2022. These monthly median home values were then assessed to get a 12-month average home value. This gave us a broader picture of home values than we could get by simply looking at data from the most recent month for which data was available. We gathered home value data for all homes and for single-family homes for every ZIP code in the U.S.
