According to a recent analysis by real estate research firm PropertyShark, the San Francisco Bay Area continues to hold the title for the most expensive zip codes in the United States for the eighth consecutive year. This analysis focuses on property transactions completed between January 1 and September 30 of this year, including condos, co-ops, single-family homes, and duplexes. Researchers calculated the median sale prices and rounded them to the nearest thousand, ranking the top 100 most expensive zip codes nationwide.
Despite facing an ongoing affordable housing crisis, the findings still reflect the Bay Area’s persistent high housing prices and robust market demand.
Interestingly, the study identified 121 zip codes due to several having the same median sale price. Of these, California accounted for a staggering 80, followed by New York with 19.
In the top ten list, seven zip codes are located in California, with Atherton remaining the most expensive zip code in the nation, even though its median sale price has dropped. This demonstrates that California, particularly the Bay Area, remains driven by strong market demand despite fluctuations.
According to PropertyShark, Atherton experienced three years of rising prices, surpassing the $8 million mark, but saw a 5% decline this year, resulting in a $400,000 decrease in median sale price, bringing it back to 2022 levels. Nonetheless, Atherton still retains its top position for 2024.
In the Bay Area, Santa Clara boasts the second most zip codes on the list, totaling 16, just behind Los Angeles. Los Altos zip codes 90402 and 94024 ranked 11th and 12th, while Palo Alto and Los Gatos followed in 20th and 21st places, respectively.
Additionally, Marin County’s Ross (zip code 94957) and Stinson Beach (zip code 94970) both made it into the top 20, landing at 16th and 18th, respectively.
