A
therton, California's 94027 ZIP code has maintained its title as the most expensive in America for real estate, despite a $400,000 median price drop to $7.9 million per property sold. This marks its eighth consecutive year holding this distinction. Newport Beach is close behind, with three ZIP codes boasting median prices over $4.6 million, up from last year.

    Seven of the nation's top 10 priciest ZIPs are in California, with sales above $10 million becoming increasingly common in both Atherton and Newport Beach. While Atherton lacks waterfront properties, it offers proximity to San Francisco Bay marinas where homeowners can park their boats. In contrast, coastal areas like Glendale, Pasadena, and Rancho Bernardo offer more affordable options for young families.

    California's inland areas are growing faster than coastal locales due to lower prices. This trend is not unique to California; other high-priced ZIPs can be found in Miami Beach, Florida, and Long Island, New York. The national median home price has seen a slight increase after a brief dip in 2022 and 2023.

    According to Property Shark research, two-thirds of the nation's 100 priciest ZIP codes saw sale prices rise in 2024, with 15 ZIPs boasting medians over $4 million. Large cities like New York and Los Angeles also mirrored these trends, with many areas experiencing significant price growth. The clustering of high-priced ZIPs in California has driven young professionals to live elsewhere while still working in the state, contributing to a home price crisis.

    As a result, neighboring states are becoming more politically centrist, and prices have increased significantly in Idaho, Texas, Oregon, Nevada, and Arizona due to an influx of Californians. For young families seeking affordable coastal options, looking inland or even to desert areas may be their only viable choice.