Even with the economic turmoil surrounding the COVID-19 pandemic, the price of a typical home in the United States increased significantly in 2020 — up to $265,000 from $235,000 in 2019. This was the largest annual increase since at least 2006. Homes in housing markets all across the country rose in value. Profits from home sales increased year-over-year in more than 90% of housing markets.
While the typical home in America is now worth over a quarter of a million dollars, there are dozens of places across the country where most homes are worth several times as much — including 20 zip codes in which the median home is worth over $1 million.
To determine the most expensive zip codes, 24/7 Wall St. reviewed data provided by Attom Data Solutions, a real estate and property data provider. Zip codes are ranked based on median sales price of condos and single family homes in 2020.
The most expensive zip codes in America tend to be clustered in certain areas. The 50 places on this list are spread out among just 14 metro areas and 10 states. California is home to 32 of these zip codes, mostly in the Bay Area, Los Angeles, and Silicon Valley area. These all rank among the most expensive housing markets in part because of the fair climate and access to high-paying jobs. These are the richest cities in America.
Sponsored: Find a Qualified Financial Advisor:
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.