Homeownership is often viewed as an essential part of the American Dream — is also the biggest purchase most Americans will ever make. Nationwide, the typical single-family home sold for $265,000 in 2020. Of course, home values are not uniform across the country, and in nearly every state, there is at least one ZIP code where the median home sale value is well above the national median.
Using median home sale price in 2020 from ATTOM Data Solutions, a real estate and property data provider, 24/7 Wall St. identified the most expensive ZIP codes in every state. Only ZIP codes with at least 1,000 single-family homes and condos and with at least 100 sales in that time frame were considered. Five states without ZIP code-level price data — Maine, Massachusetts, New Hampshire, South Dakota, and Vermont — were excluded from analysis.
Housing prices are determined by supply and demand forces as well as what local residents are willing to pay — and that is influenced largely by what they can afford. Not surprisingly, in places where the median home sale price is higher than average, most households tend to earn more than the national median household income of $62,843. Here is a look at the income it takes to be considered rich in every state.
It is likely no coincidence that each ZIP code on this list falls within the boundary of a major metropolitan area. Though not every ZIP code is in a major city, its close proximity to one offers residents access to jobs, entertainment, and culture — which likely contributes to higher home values. Here is a look at the best city to live in every state.