Top Ten Most Expensive Zip Codes

The city of New York is known for a lot of things: Times Square, Central Park, Liberty Island, the Empire State building and the list goes on. In addition to these obvious landmarks, it is also known for the cut throat world of Wall Street and as the hub of the rich and famous. Hence, it comes as no surprise that some of the most expensive real estate properties belong to this pulsating city. Having so many famous landmarks around is bound to send real estate prices sky rocketing. To be precise, six out of the ten most expensive zip codes in the country are in New York. Two more are not too far away from it, in New Jersey and Long Island.

Forbes magazine conducted an annual survey of local homes to determine the ten most expensive zip codes. 94207 in Atherton, California has clinched the top spot; it is the most expensive zip code in the United States. This Silicon Valley town hosts a median home price of about 9 million dollars. Home to some of the country’s brightest computer minds, with more joining in each passing year, it is located between San Jose and San Francisco. It has become the new residential destination for a lot of high ranking executives.

Coming in at number two is 11962, in Sagaponack, Long Island. Here, homes cost around 6.4 million dollars on average. The next few spots are taken over by zip codes in Manhattan. At number three is 10013, Soho, with an average home price of about 6 million dollars. 10065 on the Upper East Side is in at number four, boasting an average price of around 5.9 million dollars. And finally, 10075, on the Upper East Side again, rounds out the top five with an average home price of around 5.3 million dollars.

One of the factors that churns the wheels of pricing in New York is the proximity to Central Park. This landmark still ranks high on the list of buyer demands. And if an apartment overlooks Central Park, Fifth Avenue, Central Park West or South, its value is highly appreciated. For those deep pocketed New Yorkers looking at these properties, money is not an issue at all. A direct view of the park is something that is most desired. Back in 2006, a Harkness Mansion town house less than half a block from the park sold for a record 53 million dollars. There are people willing to spend exorbitant amounts of money, even for limited space, as long as they get a view of the park.

Continuing with the list, 07629 in Alpine, New Jersey is at number six with an average price of 5 million dollars and 81656 in Aspen, Colorado is at number seven with an average price of 4.95 million dollars. The final three spots are taken by Manhattan zip codes: 10011 in Chelsea with an average cost of 4.9 million dollars, 10014 in West Village, with an average of 4.8 million dollars and 10012 along Houston Street, with an average housing price of 4.7 million dollars.

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