Homeownership is the ultimate symbol of the American Dream — and 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 average.
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.
In Indiana, the 46077 ZIP code, located in Zionsville in the Indianapolis-Carmel-Anderson, IN metro area, is the most expensive place to buy a home. The median home sale price in the area in 2020 was $460,297. For context, across all of Indiana, the typical home sold for $189,268 in 2020.
As is often the case in areas with high home values, incomes in the 46077 ZIP code are also relatively high. The typical area household earns $138,686 a year, substantially more than the national median household income. Meanwhile, the typical household in Indiana earns $56,303 annually.
| State: | Most expensive ZIP code: | City: | Median home sale price, 2020: | Median household income: |
|---|---|---|---|---|
| Alabama | 36561 | Orange Beach | $432,000 | $83,064 |
| Alaska | 99577 | Eagle River | $357,863 | $112,912 |
| Arizona | 85253 | Paradise Valley | $1,599,500 | $163,750 |
| Arkansas | 72223 | Little Rock | $337,500 | $96,692 |
| California | 92660 | Newport Beach | $1,955,000 | $123,955 |
| Colorado | 80209 | Denver | $762,000 | $91,884 |
| Connecticut | 6880 | Westport | $1,211,000 | $201,528 |
| Delaware | 19971 | Rehoboth Beach | $450,000 | $78,689 |
| Florida | 34102 | Naples | $1,200,000 | $85,938 |
| Georgia | 30327 | Atlanta | $920,750 | $155,219 |
| Hawaii | 96734 | Kailua | $985,000 | $102,242 |
| Idaho | 83616 | Eagle | $519,375 | $89,460 |
| Illinois | 60614 | Chicago | $540,000 | $117,138 |
| Indiana | 46077 | Zionsville | $460,297 | $138,686 |
| Iowa | 50263 | Waukee | $257,000 | $100,060 |
| Kansas | 66221 | Overland Park | $587,813 | $165,883 |
| Kentucky | 40059 | Prospect | $461,250 | $150,736 |
| Louisiana | 70810 | Baton Rouge | $270,250 | $86,471 |
| Maryland | 20854 | Potomac | $900,000 | $213,724 |
| Michigan | 48009 | Birmingham | $440,000 | $122,804 |
| Minnesota | 55446 | Minneapolis | $422,000 | $135,180 |
| Mississippi | 39110 | Madison | $309,375 | $109,270 |
| Missouri | 63017 | Chesterfield | $380,000 | $111,815 |
| Montana | 59718 | Bozeman | $409,063 | $72,320 |
| Nebraska | 68022 | Elkhorn | $298,000 | $105,956 |
| Nevada | 89138 | Las Vegas | $536,000 | $120,759 |
| New Jersey | 8008 | Beach Haven | $885,000 | $87,960 |
| New Mexico | 87111 | Albuquerque | $306,716 | $71,239 |
| New York | 11937 | East Hampton | $1,240,000 | $97,961 |
| North Carolina | 27927 | Corolla | $625,000 | $68,438 |
| North Dakota | 58503 | Bismarck | $334,900 | $86,764 |
| Ohio | 43017 | Dublin | $405,000 | $109,742 |
| Oklahoma | 73034 | Edmond | $326,000 | $88,264 |
| Oregon | 97202 | Portland | $565,000 | $81,772 |
| Oregon | 97068 | West Linn | $565,000 | $113,389 |
| Pennsylvania | 19147 | Philadelphia | $437,000 | $81,519 |
| Rhode Island | 2889 | Warwick | $243,000 | $77,783 |
| South Carolina | 29492 | Charleston | $572,500 | $109,143 |
| Tennessee | 37215 | Nashville | $719,000 | $127,203 |
| Texas | 78704 | Austin | $616,500 | $75,233 |
| Utah | 84098 | Park City | $769,063 | $131,324 |
| Virginia | 22314 | Alexandria | $710,622 | $130,839 |
| Washington | 98033 | Kirkland | $1,100,000 | $133,744 |
| West Virginia | 26508 | Morgantown | $264,450 | $70,904 |
| Wisconsin | 53066 | Oconomowoc | $355,000 | $96,880 |
| Wyoming | 82009 | Cheyenne | $342,094 | $84,545 |
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