(NEXSTAR) – If you want to live in California, you’ve got expensive taste – whether you like it or not.
Real estate brokerage Clever recently released an updated list of the most expensive ZIP codes in the U.S., and the top 10 is dominated by exclusive enclaves around the Golden State.
Beverly Hills’ 90210 may be the most famous ZIP code in the country – thanks to the 1990s TV show – but it’s actually not the priciest. That honor goes to Atherton, home to some of Silicon Valley’s wealthiest. The ZIP code has a shockingly high typical home value of $7.36 million
Another five California neighborhoods make appearances, including the town Oprah and Prince Harry call home, Montecito.
Outside of California, two other states are represented on the top 10. New York has two spots on the list, both in Suffolk County on the eastern side of Long Island.
The final ZIP code is in Washington state in Medina. The city is across Lake Washington from Seattle, and boasts a typical home value near $4.2 million, according to Clever’s analysis.
|Rank||ZIP code||Metro area||Typical home value|
|1.||94027||Atherton (San Francisco metro)||$7.36M|
|2.||90210||Beverly Hills (Los Angeles metro)||$5.11M|
|3.||11962||Sagaponack (New York City metro)||$4.75M|
|4.||94022||Los Altos Hills (San Jose metro)||$4.26M|
|5.||98039||Medina (Seattle metro)||$4.18M|
|6.||90402||Santa Monica (Los Angeles metro)||$4.17M|
|7.||93108||Montecito (Santa Barbara metro)||$3.94M|
|8.||92067||Rancho Santa Fe (San Diego metro)||$3.9M|
|9.||11976||Water Mill (New York City metro)||$3.865M|
|10.||92657||Newport Beach (Los Angeles metro)||$3.86M|
Clever’s report used Zillow’s Home Value Index to capture recent trends in home prices.
The average home value nationwide is far lower than the pricey locales on the top 10 list.
Denver is actually one of only 17 cities that have seen home prices increase less than 5% in the past year, according to the Zillow Home Value Index.
The national median home price slipped 0.9% from March last year to $375,700 in March of 2023, the National Association of Realtors said. That drop may be small, but it’s the biggest annual median home price drop since January 2012.
While the drop in prices is good news for buyers after years of soaring home values, a stubbornly low inventory of properties for sale continues to drive bidding wars in many markets, especially for the most affordable homes.
The Associated Press contributed to this report.