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Coastal living, privacy, and luxurious amenities define many of the nation’s most expensive ZIP codes, from an exclusive island off the coast of Florida to California’s star-studded enclaves.
From Miami Beach to Malibu, CA, America’s ultra-luxury neighborhoods operate in an entirely different league. In these spots, nearly every listing is a multimillion-dollar estate, with many homes climbing well into the eight figures.
The country’s most expensive ZIP code is 33109, Fisher Island in Miami Beach, a new analysis from Realtor.com® shows. Here, the median listing price is a staggering $11.9 million—about 27 times higher than the U.S. median.
“Fisher Island’s housing market is riding the wave of Miami’s ultra-luxury boom because it combines seclusion with inherent scarcity,” Ana Bozovic, a Miami-based real estate agent and founder of Analytics Miami, tells Realtor.com.
The island is accessible only by private ferry, yacht, or helicopter, and there are no public roads or bridges, offering residents unmatched privacy without being in a remote location.
“They’re minutes from all the action in Miami while enjoying a level of exclusivity that is unparalleled,” says Bozovic.
Homes on Fisher Island average 3,800 square feet, but prices soar thanks to the island’s exclusivity and oceanfront setting. Interest also bucks the national trends: Page views per property for Fisher Island on Realtor.com climbed 4.5% year over year, even as luxury interest cools elsewhere, as is the case in Las Vegas.
At the very top, the 90th percentile (or 10% of the most expensive listings in the neighborhood), reached $35 million.
“What’s driving today’s momentum is not just limited supply, but also the delivery of new product that matches the island’s ever-rising price points and Miami’s growing stature on the global stage,” explains Bozovic, pointing to the Links Estates.
The luxury development currently under construction features 12 single-family homes, with prices starting at $30 million.
“Fisher Island remains a micro-market that consistently sets records, defined by its privacy, scarcity, and alignment with Miami’s transformation into a true global luxury hub,” Bozovic sums up.
(Realtor.com)
California claims the majority of rankings
But, while Fisher Island might be the most expensive ZIP in the country, California remains at the heart of America’s luxury real estate market, claiming seven ZIP codes in the top 10.
Among them are Newport Coast (92657), where the median listing sits at $9.1 million, and the priciest 5% of homes exceed $50 million.
Unsurprisingly, Bel-Air (90077) in Los Angeles, which is home to some of Hollywood’s biggest hitters, has a median list price of $8.2 million. Homes here span nearly 5,800 square feet, but the online-viewing interest in this market is waning, plunging 46% compared with last summer.
Beverly Hills (90210) has 242 listings on the market at the moment, making it one of the largest luxury markets. Homes here list at a median of $6.9 million.
Real estate agent Richard Schulman, head of the Schulman Team at Keller Williams Realty, says that both Beverly Hills and Bel-Air are historically expensive, and that has not changed. If anything, prices have gone up in those communities since the devastating wildfires that scorched through Los Angeles earlier this year.
“Because of the fire, there has been an increase in demand,” Schulman tells Realtor.com. “The fires pushed the prices in these areas up.”
But Schulman notes that Bel-Air and Beverly Hills tend to attract buyers with different priorities.
Beverly Hills, according to the agent, tends to attract home shoppers looking for a more walkable community.
On the other hand, people looking to buy in Bel Air are usually eyeing sprawling estates in a less urban setting. In fact, Schulman says there are no sidewalks to be found in the exclusive enclave.
“You have people with very particular needs in these areas,” adds the agent.
(Realtor.com)
In Malibu, the market has been shaken by both the wildfires and sliding interest. Median list prices in the 90265 ZIP code sit at $6 million, but online views for homes are down 46%, and top-tier listings dropped more than 40% from last year’s peak.
Still, investors are still betting on a rebuild to restore Malibu’s prestigious beachfront after the January wildfires ripped through miles of beachfront homes, reducing many to ash. A foreign investor has been secretly scooping up many of the burned lots on the oceanfront side of Pacific Coast Highway, so far snapping up nine lots worth more than $65 million.
“Once this beach is built back and it’s all brand-new construction, I think it’s going to be a very desirable spot for a lot of wealthy people to try to buy a beach house,” Weston Littlefield with the Weston James Group tells Realtor.com.
Meanwhile further up the coastline, Montecito (93108) and Hope Ranch (93110) are neighborhoods packed with multimillion-dollar listings, with some estates priced north of $60 million.
Montecito is home to many big names, including Prince Harry and Meghan Markle. Their home features nine bedrooms, 16 bathrooms, a pool, and a tennis court, as well as beautiful gardens.
Other celebrities include Oprah Winfrey, who bought a $50 million property in 2001 that she has called “The Promised Land,” Gwyneth Paltrow, and Ellen DeGeneres and Portia de Rossi, who used to live in the area before their move to the U.K.
California also claims the largest homes on the list, with a median of 6,711 square feet in Rancho Santa Fe (92067). That’s nearly four times the U.S. median of 1,850 square feet.
The Hamptons still defines East Coast Luxury
On the opposite coast, Bridgehampton (11932) and Water Mill (11976) represent the Hamptons’ enduring appeal among monied buyers.
Median listings hover above $6.8 million, and the top 1% of listings can reach $59 million in Bridgehampton or $61 million in Water Mill.
Despite the price tags, both markets saw steep drops in buyer interest this summer—down 29% and 49% respectively. That may reflect more options for buyers—in Water Mill, for example, new listings surged 50% year over year, giving high-end shoppers a greater choice in a traditionally tight market.
(Realtor.com)
The most expensive ZIP codes offer a rare slice of the market
The cost of the homes in these markets is staggering, but these ultra-luxury ZIP codes represent just 0.1% of all listings across the U.S.
Still, they command an outsized influence and attract some of the wealthiest buyers in the world, concentrate extraordinary amounts of capital, and set the tone for what defines luxury in America today—including sweeping views, sprawling square footage, and the kind of exclusivity that money alone can’t always buy.
Additional reporting by Snejana Farberov