The American real estate market has had its share of highs and lows over the past few years. More recently, there's been a significant drop in home sales due to high mortgage rates and an iffy economy. Yet, extravagant neighborhoods with the most expensive homes were able to sell properties with even higher price tags, many for median prices of $5 million or more. If you moved into one of these pricey areas, you'd be neighbors with famous athletes, movie stars, millionaire app developers, and super-wealthy corporate CEOs.
For years, the small, mostly residential city of Atherton has held fast to its #1 ranking as the most expensive zip code — 94027 — in America. It's famous for being the epicenter for those who made their fortunes in Silicon Valley. With median home sale prices that have soared to just under $8 million, you won't find people living here who earn less than $565,000 per year.
Around 7,200 people live in Atherton in San Mateo County, just south of San Francisco.
Wannabe residents can expect to pay a median price of $9.9 million for a home in this exclusive beachside community in the Hamptons. The historic town was settled in 1653, but the quaint farmhouses that once dotted its map have been replaced with multi-million dollar mansions.
Here you'll find the largest private residence in the U.S., owned by billionaire industrialist Ira Rennert. The 62,000-square-foot home has 29 bedrooms, 39 bathrooms, three swimming pools, a bowling alley, and a 164-seat theater.
Just north of San Francisco in Marin County, the little town of Ross is a bit different from other places around the state where the wealthy choose to live. It has a rural vibe, a population of 2,453, and only a handful of cafes and restaurants sitting along the community's main streets.
As people seek residences away from the bustle of California's larger cities, those who can afford to live here will pay a median home sale price of $5.5 million for a home.
You'll find Florida's most expensive homes in Miami Beach, with Fisher Island topping the list for extravagant living. The average income for residents in this exclusive community is $2.5 million, and it isn't accessible by car.
While you may be lucky enough to find a condo here for a mere $2.6 million, be prepared to pay a median price of $5.2 million for a home.
Gen Xers and millennials alike will no doubt be familiar with the ultra-rich lifestyle of those who reside in the 90210 zip code, thanks to the hit TV show that aired from 1990 to 2000.
The median price for a home is just a tad over $5.5 million. Even the cheapest homes in Beverly Hills will cost you around $1 million.
This mountain town caters to those who enjoy luxurious accommodations and rich culture. The town has become a winter playground for the rich and famous. It's also a place where high-end, exclusive homes sell for between $30 and $40 million, although the median price is $9.3 million for exclusive properties.
While the cost of homes seems to be falling, the cost of living in Vail hovers around 34% above communities across the state.
People who reside in neighborhoods in Medina have a median income of $185,163, the highest in the state of Washington. Additionally, the cost of living is the highest in the country. Billionaires like Bill Gates and Jeff Bezos have owned homes here.
The average cost for a single-family home in Medina is $3.5 million, but many have a price tag of $15 million or more. A majority of the city's population, around 83%, owns their home.
If you're seeking a high-end home in an exclusive neighborhood, look no further than the 96754 zip code, which is also home to four active volcanoes. Two of the most prestigious communities in Kilauea are Seacliff Plantation and Anini Vista, where most home prices range between $3.75 million to $18 million.
These areas boast some of the most panoramic views in Hawaii, and people will pay top dollar to own one.
While the median home price in this city's neighborhoods is $4.4 million, its most expensive property — a 22,640-square-foot mansion — is up for sale for a whopping $69 million. Many of the homes in the area sell for $3000 to $3360 per square foot, which real estate brokers say is a real bargain for Santa Monica.
The most expensive zip code in the state, 85253, has been home to famous athletes like Muhammad Ali and Michael Phelps. It's best known for its magnificent scenery — surrounded by mountain vistas on three sides. Visitors say Paradise Valley also gives off a strong "big money" vibe.
New home builds are bound by zoning, requiring one house per single acre. While median home prices land at $2.5 million, it's not unusual to find properties ranging between $14 million and $30 million.