In Q3 of 2023, the median sale price of a home in the US was $431,000. That amount is way, way lower than home prices in some of the most expensive US ZIP codes, which range from $3.86 million to $7.36 million.
I’m a Real Estate Agent: Here Are 7 Ways People Destroy the Value of Their Homes in Less than a Year
Learn: 3 Things You Should Do When Your Savings Reach $50,000
Here’s more about America’s most expensive ZIP codes, most of which are in California, and how it costs millions to live there.
92657: Newport Beach, California (Los Angeles Metro)
When you live in Newport Beach, you’ll enjoy miles of beautiful beaches and top-notch surfing. However, it is not cheap.
The average cost of a home in Newport Beach is $3.86 million, which is not surprising considering that the cost of living index is 64.9% higher than the US average. Aside from more expensive housing, groceries in Newport Beach are 14.7% higher than the US average. Other high costs include clothing, repairs, restaurants, entertainment, and other services, which are 55.7% higher than the US average, and transportation, which is 10.8% higher.
11976: Water Mill, New York (New York City Metro)
The average cost of a home in the small village of Water Mill is $3.86 million, which is similar to the cost of housing in Newport Beach. When you live here, you can enjoy beautiful views of the Atlantic Ocean as well as access to beaches and parks, but the cost of living is 47.1% higher than the US average. Groceries are 27% higher, while health care is 25.2% higher. Miscellaneous expenses were 54.7% higher, and utilities were 25.4% higher.
92067: Rancho Santa Fe, California (San Diego Metro)
Known for its championship golf courses and lush, rolling hills, Rancho Santa Fe is a paradise for some. The average cost of a home in Rancho Santa Fe is $3.9 million, and its cost of living is 54.9% higher. High costs include groceries, which are 25.7% higher, and transportation, which is 23% higher.
93108: Montecito, California (Santa Barbara Metro)
With benefits like a year-round mild climate and an amazing beach, you’ll pay dearly for the average Montecito home—$3.94 million. You will also pay dearly for other expenses, as the total cost of living is 54.7% higher than the US average. High costs include groceries, which are 20.6% above average, and healthcare, which is approximately 13% above average.
90402: Santa Monica, California (Los Angeles Metro)
Santa Monica is a vibrant beach town with many high-level amenities and a population of around 100,000. However, you will pay for luxury; the average cost of a home in Santa Monica is $4.17 million. The total cost of living is 61.7% higher than the US average—11.4% and 54.8%—for groceries and transportation, respectively.
98039: Medina, Washington (Seattle Metro)
Mountain views and proximity to Seattle are part of the reason the average cost of a home in the small town of Medina is $4.18 million, and the overall cost of living is 58.1% higher than generally in the US. Higher than average costs include groceries, which are 22.1% higher, and transportation, which is 26.9% higher.
94022: Los Altos Hills, California (San Jose Metro)
The average cost of a home in the lively small town of Los Altos Hills is $4.26 million. However, it is not only houses that are expensive; the total cost of living in Los Altos Hills is a whopping 131% higher than the US average. Groceries are 27.6% higher than the US average, and transportation is 44.7% higher.
11962: Sagaponack, New York (New York City Metro)
Sagaponack, a small town located in the Hamptons of Long Island, has a population of less than 300. The average cost of a house in Sagaponack is $4.75 million, and the total cost of living is 47.1% higher than the US average. Groceries, healthcare, and utilities are 26.9%, 25.2%, and 25.4% higher than the US average, respectively.
90210: Beverly Hills, California (Los Angeles Metro)
The average cost of a home in Beverly Hills is $5.11 million. The total cost of living in Beverly Hills is 61.7% higher than the US average. Transportation costs are 56.7% higher than the US average, while groceries are about 20% higher.
94027: Atherton, California (San Francisco Metro)
The average cost of a home in Atherton is higher than all other ZIP codes at $7.36 million. It’s a small town close to San Francisco and Stanford University with lots of parks, restaurants, and shops. The overall cost of living in Atherton is also higher than anywhere else, at 150% above the US average. Grocery, health, and transportation costs are 133.6%, 117.4%, and 137.3% higher than the US average.
