Of the 100 most expensive zip codes in the nation, 43 are located in the Bay Area, a new report from PropertyShark finds.
The real estate listing site compiled the median home sale prices of zip codes across the nation in 2018. The Bay Area — and California at-large — dominate the ranking.
To determine the ranking, PropertyShark looked at all residential transactions closed in 2018, including condos, co-ops, and single- and two-family homes. Due to ties, their full top-100 ranking includes a total of 117 zip codes. The Bay Area is actually home to 47 of the top 117.
If that’s not startling enough, wrap your head around these numbers:
- Of the top 117 ranked zip codes, California contributed 82
- Santa Clara County is home to 16 of the country’s most expensive zip codes, 3 of which made the top-10
- San Francisco has 9 of the priciest zip codes, tying with New York City
- 11 of the 117 most expensive zip codes are located in San Mateo County
To put this all in perspective, New York state boasts the second highest concentration of pricy zip codes behind California. It has 19. Massachusetts and Connecticut followed with six and four zip codes respectively.
Sound Off: Which proposition will have the greatest effect on the Bay Area’s real estate market?
Amid a slowing market, North Berkeley bungalow sells for nearly 70 percent over asking
New map shows how much fog every SF neighborhood gets
San Mateo and Santa Clara counties dominate the top of the list, with Atherton ranking first thanks to its outrageous median sale price of $6.7 million — nearly $1 million more than the next zip code on the list in Sagponack, New York. Palo Alto, Los Altos, Portola Valley and Los Altos rounded out the top 10 by snagging spots #6 through #9. Home prices in these zip codes ranged between $3.25 and $3.75 million this year.
San Francisco doesn’t make an appearance on the list until #40, with the Marina District’s median sale price in 2018 coming in at $2.1 million. The Presidio Heights zip area trailed four spots behind. The average home in the seaside community costs $1.97 million, the study found.
The Bay Area has only gotten more expensive over the last year, according to PropertyShark‘s ranking. In 2017, California laid claim to 77 of the top-100 priciest zip codes, 25 of which were in Silicon Valley, which the real estate site define as Santa Clara and San Mateo Counties combined. The Bay Area added five new communities to the list this year. (Note: The 2017 ranking includes 100 zip codes, compared to this year’s 117.)
You can see the top 15 most expensive Bay Area zip codes in the above gallery. Read the full ranking here.
Read Michelle Robertson’s latest stories and send her news tips at firstname.lastname@example.org.
Start receiving breaking news emails on wildfires, civil emergencies, riots, national breaking news, Amber Alerts, weather emergencies, and other critical events with the SFGATE breaking news email. Click here to make sure you get the news.