Home prices have risen rapidly across the country in the years since the pandemic, but some zip codes are so elite that the average home sells for millions.
A new report has now revealed the most expensive areas to live in the US.
Almost all top ten neighborhoods are highly sought-after destinations by the sea, on the water or for winter sports.
The wealthiest zip code in the country is currently Atherton in northern California. according to Reality Hop’s annual report.
The luxury residential area is home to tech executives working in Silicon Valley and has a median home price of $7.75 million.
The area consists of large estates and has been the most elite postal code in the country for five years in a row.
In second place comes Fisher Island, just off the coast of Miami Beach in Florida.
The island can only be reached by ferry or private yacht and has an average home price of $6.1 million.
Fisher Island just off the coast of Miami Beach in Florida is one of the most exclusive areas
Fisher Island is known for its pristine, private white-sand beaches and its deep-water marina, perfect for parking mega-yachts.
With only a slightly lower median home price of $6 million, Sagaponack, New York, ranks as the third most expensive zip code.
The crème de la crème of the Hamptons, Sagaponack is known for its sprawling oceanfront properties owned by moguls and movie stars alike.
Fourth in the 2024 rankings is the privately owned Sea Island in Georgia.
The island is privately owned by the Anschutz family and maintains a gated community of approximately 500 single-family homes.
Known for its exclusive resorts and beach clubs, Sea Island was so loved by President George W. Bush that he hosted the G8 summit there in 2004.
While far from the most expensive area, an unsung city in Massachusetts has been named the hottest housing market in the US for the first time in seven years.
Springfield, an hour and a half drive from Boston, is best known as the birthplace of basketball.
But it’s also now the most in-demand city in the U.S., according to Realtor.com, with the number of first-time homeowners outpacing the supply of properties.
Homes in Springfield attracted nearly three times the national average in views per listing last month, and were snapped up faster than virtually any other market.
On average, homes sold in just 37 days, compared to 62 days nationally.
Sagaponack in the Hamptons is known for its expansive oceanfront properties
Privately owned Sea Island in Georgia has a gated community of approximately 500 homes
The wealthiest zip code in the country is currently Atherton in northern California
In the year to November, house prices in Springfield rose by 4.3 per cent. But they still fell below the national average of $365,000.
But one of the main reasons for Springfield’s popularity is its proximity to another city: Boston.
According to Realtor.com, what almost all of the hottest markets in recent years have in common is their proximity to Boston.