Seven of the country’s 10 most expensive ZIP codes are in California, and if you live here, that’s probably no shock. From Silicon Valley’s billionaire enclaves to the sun-soaked shores of Newport Beach, California’s luxury real estate market continues to set the pace for the nation, according to data run by real estate site Property Shark.
But California’s reign was interrupted this year: the priciest ZIP code in the U.S. isn’t in the Golden State—it’s on Fisher Island, Florida, just off Miami Beach. No cars are allowed: Only ferries and yachts are permitted, and the median home sale price is $9.5 million. That’s a 65% jump from last year, showing how quickly the ultra-luxury market can shift.
The study served up this California real estate trivia nugget: Newport Beach, population 83,000, isn’t just wealthy—it’s a ZIP code hoarder. Three of its neighborhoods muscled into the national top 10, each flaunting median home prices north of $5 million.
And Atherton, which was No. 1 on 2024’s list? Adorable Atherton, perched on the edge of Silicon Valley with fewer than 8,000 residents, can only clutch its lone ultra-pricey ZIP like a participation ribbon. (Granted, that ribbon costs $8.33 million, so don’t shed too many tears.)
Bottom Line: Shopping for a home in California’s coastal elite ZIP codes? Brace yourself—those price tags can cause sticker shock, even for the monied class. The rest of us? We’ll just keep scrolling Zillow and pretending.
Here’s what to know about the Golden State’s (and other parts of the nation) most expensive places to live.
The Top 10: Where waterfront views (mostly) rule
So, what do the most expensive ZIP codes have in common? Water, water, everywhere, aside from the Silicon Valley enclave of Atherton. Whether it’s the Pacific, the Atlantic, or a scenic bay, proximity to the coast is a recurring theme. Here’s a quick look at the top 10 for 2025:
- Miami Beach (Fisher Island), Florida (33109) – $9.5M
- Atherton (94027) – $8.33M
- Sagaponack, New York (11962) – $5.93M
- Water Mill, New York (11976) – $5.5M
- Newport Beach (92661) – $5.72M
- Santa Barbara (93108) – $5.24M
- Stinson Beach (94970) – $5.23M
- Newport Beach (92657) – $5.19M
- Los Altos (94022) & Newport Beach (92662) – $5.1M
- Rancho Santa Fe (92067) – $4.99M
Newport Beach is California’s (and America’s) most expensive city
Newport Beach, in Orange County, has quietly become the country’s most expensive city by median home price. All six of its residential ZIP codes made the top 100, with even the “least expensive” area, 92660, posting a median sale price of about $3.1 million. The city’s dominance is clear: three ZIPs in the top 10, and every neighborhood is a multi-million-dollar market.
Santa Barbara’s Montecito (93108) and Marin County’s Stinson Beach (94970) also saw record highs, with Stinson Beach jumping 38% in median price year-over-year. Los Altos (94022) broke the $5 million barrier for the first time, reflecting Silicon Valley’s enduring appeal.
Climate risks acknowledged, but not yet priced in for wealthy cities
It’s worth noting that property values continue to rise in coastal California, New York, and Florida—even as sea levels do the same. While climate risks “are increasingly acknowledged,” said Doug Ressler, manager, business intelligence at Yardi Matrix, a sister company to PropertyShark, a real estate data website, “they are not yet fully reflected in property prices.” For now, the cachet of a waterfront address seems to outweigh long-term concerns, at least in the luxury segment.
Beyond California: Where else are prices sky-high?
While California and New York dominate, other states are making their mark. Florida’s Fisher Island dethroned Atherton after eight years at the top of the most expensive places to live. New Jersey’s Alpine and Deal set new records, and Connecticut’s Greenwich now has more top 100 ZIPs than New York City itself. Even New Hampshire’s New Castle outpaced Boston’s priciest ZIP this year.
