Here’s something you already knew: buying a house in the Bay Area is financially difficult!
Out here it’s so expensive, in fact, that as real estate research company PropertyShark.com found, the region claims 38 of the 100 zip codes with the most expensive home prices in the United States.
The study compiled 2016′s home listing prices nationwide — including condos, co-ops, single- and two-family home sales — and worked out the median (or, midpoint in a set of sale prices for every U.S. zip code), and found that the geographic area with the most expensive zip codes for houses belonged to the Bay Area.
However, the Bay Area was not home to the most expensive zip code on the list; that honor went to a zip code in Sagaponack, New York (11962), which is part of the Hamptons in Long Island. In 2016, houses there went for a median of $5.5 million.
The most expensive Bay Area zip code on the list, which came in at #2, belonged to that of Atherton, a South Bay suburb, which in 2016 had a median home sale price of $5.425 million.
The Bay Area is one of the most expensive regions to build. Tom Vacar explains why.
But though it didn’t come in first (better luck next year?), Atherton was far from alone on PropertyShark’s most expensive roundup. Four of the top 10 zip codes were also part of the Bay Area, including Palo Alto (94301, with a median price of $2,935,000), Los Altos (94022, with a median price of $2,831,250), and Portola Valley (94028, with a median price of $2,815,000).
San Francisco, frequently regarded as the priciest place to buy a home in the Bay Area, actually had seven zip codes on the list of the 100 most expensive. The SF zip that proved to have the highest cost comprises — no shocker here — the Marina district, which had a median cost of $2,210,000 and landed at #24.
See all the rankings here at PropertyShark.