30 Richest Zip Codes in the US

This article covers the 30 Richest Zip Codes in the US, providing insight into the overall real estate market and its ongoing trends in these areas. For a quick overview of the top 10, read our article 10 Richest Zip Codes in the US.

Despite a tumultuous year marked by economic instability and the COVID-19 pandemic, the real estate market in the United States has been resilient. Home prices have reached a record high, with a year-on-year increase of 1.6% in July 2023.

Home sales in July 2023 fell 15.3% from the same month in 2022. Housing inventory at the end of the month was 1.11 million units, a 14.6% decline from the corresponding period in 2022.

Technology in the Real Estate Market

Homebuyers increasingly use technology to streamline the homebuying process, shaking up the traditional real estate market.

On this note, eXp Realty, a subsidiary of eXp World Holdings Inc (NASDAQ:EXPI), has embraced technology to further its agent-centric focus. To this end, it has launched Luna, an AI support chatbot designed to provide agents with 24/7 assistance.

Zillow (NASDAQ:ZG), an American tech real estate marketplace, is another company using AI. It has introduced its own ChatGPT plugin, which is currently in alpha testing. The plugin will allow the company to improve and enhance customer experiences based on user interactions.

Zillow (NASDAQ:ZG) has made the plugin available to a selected number of ChatGPT users but hopes to expand its reach once the testing phase is over. Additionally, the real estate company is looking to develop a housing super app to help customers stay connected with the real estate community in the nation.

Companies Targeting Rich Zip Codes

In the United States, some real estate companies use technology to stay ahead of the competition, while others focus on attracting affluent customers to remain profitable. Consequently, they are focused on expanding operations within various areas of the country. 

Leading luxury brands are seeking to innovate domestically and stay competitive. For instance, Ralph Lauren Corp. (NYSE:RL), a publicly traded fashion company, announced plans in April 2023 to open a cryptocurrency-friendly store in Miami’s Design District.

Consequently, Ralph Lauren Corp. (NYSE:RL) aims to combine immersive experiences with digital innovation, especially when the world is moving toward technological advancements.

Furthermore, the store in the Design District will be the first in Ralph Lauren Corp. (NYSE:RL)’s history to accept cryptocurrency as a payment medium. For a complete, immersive customer experience, the company has included interactive digital screens in its floor plan, aiding customers in booking styling appointments and exploring products. 

Another company targeting the wealthiest zip codes in the United States is the German multinational luxury vehicle manufacturer BMW (ETR:BMW). In August 2023, the company announced that it would be making several updates to its 2024 lineup, which will be released nationwide.

The lineup will include an all-wheel-drive version of the BMW (ETR:BMW) i4 electric sports sedan, the 7-Series with additional electrified options, and an updated operating system.

All BMW (ETR:BMW) vehicles running OS 8 will be upgraded to 8.5 before the end of 2023. The new operating system will first be introduced in iX models, but it will soon be incorporated into i4 and 7-Series models to reach a wider audience.

30 Richest Zip Codes in the US

Zvonimir Atletic/Shutterstock.com

Methodology

The list of the 30 richest zip codes in the US was created using median home sale price and median household income. These metrics will help us assess each zip code’s affluence and relative wealth.

The median home sale price data was obtained from Property Shark. The median household income data was gathered from Income by Zip Code and Zip Atlas.

The median home sale price measures the typical or average price of homes sold in a specific area or market over a certain period. For example, Atherton, California, with a zip code of 94027, has a median home sale price of $7.9 million. 

This makes it the highest-ranked zip code on our list of the 30 richest zip codes in the US, based on median home sale price. Zip codes with higher median home sale prices suggest that the locals have accumulated wealth, possibly due to rising property values and higher incomes.

The median household income measures the typical or average income level of households in a given area. It is calculated by ranking all households in the area by income and then taking the household’s income in the middle. The median household income can be used to gauge the overall economic well-being of a community, city, or country, as it provides insight into the level of affluence and financial security of the residents.

Zip codes with higher median income and median home sale prices can offer a better quality of life, as they tend to have more amenities, better job stability, higher incomes, and a more stable economic base. These factors can make them attractive places to live, work, and invest.

We first ranked each zip code on each index from 1 to 30, with 1 indicating the zip code with the highest value for median home sale price and median household income. We then assigned weights of 0.5 to the median home sale price and 0.5 to the median household income. 

Finally, we calculated a composite weighted average of these scores to determine the 30 richest zip codes in the US. After the final calculation of the composite scores, the zip codes were ranked from 1 to 30, with 1 indicating the richest zip code and 30 indicating the least richest zip code.

The median of each metric was used to measure both metrics to avoid skewness. Below is our list of the 30 richest zip codes in the US

Richest Zip Codes in the US

30. Atherton

Median Home Sale Price: $7,900,000

Median Household Income: $250,001

Zip Code: 94027

Final Weighted Average Score: 1

According to a Property Shark report, a home’s median sale price in Atherton is $7.9 million, which is 20 times greater than the national average. The location is home to some of the wealthiest people in Silicon Valley, who enjoy the privacy granted by Atherton’s mansions and gated communities. 

29. Ross

Median Home Sale Price: $5,500,000

Median Household Income: $250,001

Zip Code: 94957

Final Weighted Average Score: 2.5

Ross is home to lush hills with trees, landscaped streets, and winding creeks. It houses some of the most dazzling real estate in the country, with each residence complimented by intricate architectural artistry. Ross is the pinnacle of luxurious lifestyles, with every fine amenity available to the locals. 

28. Miami Beach

Median Home Sale Price: $5,200,000

Median Household Income: $250,001

Zip Code: 33109

Final Weighted Average Score: 3.5

Known for its happening lifestyle, Miami is home to people from different cultures and income levels. However, the wealthy and affluent have access to various unique amenities only available in America’s richest zip codes. Consequently, the rich have built a fast-paced and comfortable life near Miami’s beautiful beaches. 

27. Los Altos

Median Home Sale Price: $4,250,000

Median Household Income: $250,001

Zip Code: 94022

Final Weighted Average Score: 7.5

According to a report by the California Department of Housing and Community Development, the housing prices in Los Altos have shown historically higher increases than in the entire region. Most homeowners in this zip code have substantial equity, which allows them to afford residences in the locality.

26. Medina

Median Home Sale Price: $4,750,000

Median Household Income: $208,500

Zip Code: 98039

Final Weighted Average Score: 7.5

Medina is famous for being home to billionaires Jeff Bezos and Bill Gates. It is a small suburb with around 3,000 people and a popular choice for wealthy retirees and professionals. The area also boasts a low crime rate and high-quality local amenities for all its residents. 

25. Beverly Hills

Median Home Sale Price: $5,122,000

Median Household Income: $204,205

Zip Code: 90210

Final Weighted Average Score: 7.5

In the second quarter of 2023, Property Shark reported that the median home sale price in Beverly Hills stood at $2.5 million. Real estate transactions declined by 31.1% compared to the same period in 2022. Currently, the value of an average home in one of the top 50 richest zip codes in the US stands at $3,926,381. 

24. Portola Valley

Median Home Sale Price: $4,125,000

Median Household Income: $250,001

Zip Code: 94028

Final Weighted Average Score: 8.5

The homes in Portola Valley come with a hefty price tag because of the many amenities, such as world-class dining and shopping, that are available to the residents. People in the area enjoy the benefits of having lucrative industries in close proximity and vast landscapes in their own backyards.

23. Rancho Santa Fe

Median Home Sale Price: $4,275,000

Median Household Income: $216,781

Zip Code: 92067

Final Weighted Average Score: 9

Rancho Santa Fe is a popular destination for wealthy people. The area boasts large private estates and luxury homes with golf courses. It is one of the richest zip codes in the US and offers luxurious and sophisticated living.

22. Los Altos

Median Home Sale Price: $4,100,000

Median Household Income: $250,001

Zip Code: 94024

Final Weighted Average Score: 9.5

Apple, Google, and Facebook are all just 15 minutes away from Los Altos, making it a desirable location for many. Many wealthy people are interested in the area’s vast estates and comfortable living.

21. Saratoga

Median Home Sale Price: $3,638,000

Median Household Income: $222,235

Zip Code: 95070

Final Weighted Average Score: 13.5

Due to the technology industry’s success, Saratoga is one of the most popular and desirable places to live in Silicon Valley. The high-ranked public schools, exclusivity, and wealthy estates are also attractive to affluent individuals and families hoping to invest.

20. Newport Beach

Median Home Sale Price: $3,925,000

Median Household Income: $181,176

Zip Code: 92657

Final Weighted Average Score: 14

According to the Coastal Real Estate Guide statistics, the median list price of a home in Newport Beach in 2023 is $5,565,000. Meanwhile, new listings are valued at $5,499,000, with each per square foot selling for $1,803. 

19. Newport Beach

Median Home Sale Price: $4,293,000

Median Household Income: $169,911

Zip Code: 92661

Final Weighted Average Score: 14.5

Data from Newport Beach shows that the median household income in the region was $133,849 in 2020, growing by 5.21% year-over-year. This is significantly higher than the national average of $67,521. As a result, the residents of Newport Beach can afford the high cost of living, which is why they invest in housing in the area. 

18. Los Angeles

Median Home Sale Price: $3,813,000

Median Household Income: $180,962

Zip Code: 90272

Final Weighted Average Score: 15

Los Angeles has a high cost of living for several reasons, including rising transportation costs and growing demand for housing in the area. Additionally, as a cultural and economic hub of the country, it attracts some of the wealthiest people to invest in housing.

17. Sagaponack

Median Home Sale Price: $5,750,000

Median Household Income: $84,583

Zip Code: 11962

Final Weighted Average Score: 15

One of the distinctive features of Sagaponack is its Victorian-era homes, which are located near the village. However, the area is unlike a typical village, with its commercial districts, waterfront properties, and pristine beaches. Moreover, wealthy people often travel to this zip code to purchase luxurious summer getaway properties.

16. Palo Alto

Median Home Sale Price: $3,600,000

Median Household Income: $194,782

Zip Code: 94301

Final Weighted Average Score: 16.5

Palo Alto is home to Hewlett Packard’s (HP) headquarters and houses many software engineers working in multinational corporations. As a result, housing costs in these areas are quite high. The Palo Alto Housing Element reported that between 2021 and 2022, home prices surged by 11.7%.

15. Santa Monica

Median Home Sale Price: $4,400,000

Median Household Income: $99,847

Zip Code: 90402

Final Weighted Average Score: 16.5

Spanish architecture is abundant in the zip code of Santa Monica, which also boasts beautiful beaches and a pleasant climate. The location also has a lively nightlife and various entertainment options, making it a popular tourist destination. Given the area’s popularity, it has all the finer amenities for its wealthy residents, who reside in stunning homes with vast landscapes.

14. Hillsborough/Burlingame

Median Home Sale Price: $3,525,000

Median Household Income: $200,091

Zip Code: 94010

Final Weighted Average Score: 17

According to a report by the Pinellas Realtor Organization, Hillsborough home prices surged by 27.3% in July 2023 compared to the corresponding period in 2022. The median home price in the area was valued at $6.8 million in the same month of 2023. 

13. Newport Beach

Median Home Sale Price: $4,100,000

Median Household Income: $143,781

Zip Code: 92662

Final Weighted Average Score: 17

Newport Beach, a coveted city in Orange County, California, is known for its natural wonders, pleasant climate, and proximity to Los Angeles. The city has the Balboa Peninsula, Crystal Cove State Park, and Newport Harbor, all offering stunning views of the Pacific Ocean and ample opportunities for outdoor recreation.

12. Corona Del Mar

Median Home Sale Price: $3,705,000

Median Household Income: $167,925

Zip Code: 92625

Final Weighted Average Score: 17.5

Corona Del Mar, which means ‘Crown of the Sea,’ is home to some of the most affluent communities in the area, many of which are located beachside. Due to the beautiful views of the beach, houses in the area are often expensive.

11. Santa Barbara

Median Home Sale Price: $4,300,000

Median Household Income: $89,243

Zip Code: 93108

Final Weighted Average Score: 17.5

In Santa Barbara, the median rent of a 4-bedroom home in June 2022 stood at $8,000, an increase from $5,000 recorded in the same period in 2021. Consequently, the data revealed that the median rent for all accommodations, from 1-bedroom apartments to condos, had increased between 2021 and 2022. 

Click to continue reading and see the 10 Richest Zip Codes in the US.

Suggested Articles: 

Disclosure. None. 30 Richest Zip Codes in the US is originally published on Insider Monkey.