House prices have risen rapidly across the country in the years following the pandemic, but some zip codes are so elite the average home sells for millions.
A new report has now revealed the most expensive areas to live in the US.
Almost all of the top ten neighborhoods are highly sought-after seaside, waterfront or ski destinations.
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 is made up of large estates, and has been the nation’s most elite zip code for five years running.
Coming in second is Fisher Island just off the coast of Miami Beach in Florida.
The island can only be reached by ferry or private yacht and has a median home price of $6.1 million.
Fisher Island just off the coast of Miami Beach in Florida is among 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 just a slightly lower median home price of $6 million, Sagaponack in New York ranks as the third most expensive zip code.
The crème de la crème of the Hamptons, Sagaponack is known for its sprawling seaside properties owned by moguls and movie stars alike.
Coming in fourth in the 2024 rankings is the privately owned Sea Island in Georgia.
The island is privately owned by the Anschutz family and maintain a gated community of around 500 family homes.
Sea Island is known for its exclusive resorts and beach clubs and was so favored by President George W Bush that he hosted the 2004 G8 summit there.
Although far from the most expensive area, an unsung Massachusetts city has been named the hottest housing market in the US for the first time in seven years.
Springfield, which is an hour and a half’s drive from Boston, is most famous for being the birthplace of basketball.
But it is now also the most in-demand city in the US, according to Realtor.com, with the number of budding homeowners outweighing the supply of properties.
Homes in Springfield attracted nearly three times the national average in views per listing last month, and were snapped up more quickly than in almost any other market.
On average, homes sold in just 37 days – compared to 62 days nationally.
Sagaponack in the Hamptons is known for its sprawling seaside properties
Privately-owned Sea Island in Georgia maintains a gated community of around 500 homes
The wealthiest zip code in the country is currently Atherton in northern California
In the year to November, home prices increased by 4.3 percent in Springfield. But they still remained below the national average at $365,000.
But one of the key reasons for Springfield’s popularity is its proximity to another city – Boston.
For the past few years, almost all of the hottest markets have had it in common that they are close to Boston, according to Realtor.com.
