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Home Prices in Some ZIP Codes Average Seven Figures

Using data from Zillow, GoBankingRates.com narrowed down which ZIP codes in all 50 states were the most expensive. The median home price in each ZIP determines each area’s ranking on the list.

Notoriously expensive New York state ranks high on the list, but surprisingly, New York’s most expensive ZIP code is not in Manhattan. Manhattan’s cost of living may be double the national average, but ZIP code 11976 in Water Mill, New York is the most expensive ZIP code in the state. The median home price in this area is $3,798,500.

Another surprising find is in California. The famous 90210 ZIP code is not the most expensive ZIP code in the state, that title belongs to 94027 in Atherton, California. Not only the most expensive ZIP in California, Atherton is the most expensive ZIP in the U.S.

According to a study by Forbes and Altos Research from 2016, New York and California held some of the top positions in the country in terms of high home prices. MReport had previously reported on the pricing-out of some people in these areas. Most major cities in California are too expensive for the average single person, and unaffordability is the norm. In Manhattan monthly payments on a one-bedroom home can exceed 30 percent of the average income.

Florida is another notoriously expensive state. The Forbes report from last year ranked ZIP code 33462 in Manalaplan, Florida as the No. 1 most expensive ZIP code in the country. The recent report from GoBankingRates.com notes the current most expensive ZIP in Florida, 33921 in Boca Grande, has a median home price of $1,313,600. Median home prices are in the millions in Hawaii, as well. Home prices in ZIP code 96821 in Honolulu have a median value of $1,295,400.

The least expensive ZIP code on the list is in the town of Oxford, Maine. Oxford’s 04270 ZIP code is the most expensive ZIP in the state, but the median home price for this ZIP is only $127,400. An important note, however, is that the report from GoBankingRates.com only covered two zip codes in the state. According to Zillow, this zip code didn’t bottom out until 2014, unlike the rest of the country which bottomed out in 2012.

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