A new analysis of the 10 most expensive zip codes in the US finds that California is still home to a significant portion of the country’s most luxurious properties.
Economists at Realtor.com attempted to find the 10 most expensive communities in the U.S. by focusing on areas with at least 30 active listings in January to identify qualified zip codes. From there, they ranked the markets based on the average listing price. And in cases where this was the same in two markets, the average square meter of the listed properties was used as a tiebreaker.
“The latest data analysis shows that entry into this exclusive top 10 now starts at $5.5 million, putting these communities in a category completely different from even the broader luxury market,” said Anthony Smith, senior economist at Realtor.com.
That $5.5 million figure is roughly five times the current luxury threshold of $1.2 million, although this is a gateway to ultra-luxury. properties is down from a peak of $5.9 million in July 2025. Only 12% of listings nationwide are priced above $1 million, but Smith noted that the share is nearly 100% within the nation’s most expensive zip codes.
Newport Beach, California, claimed the top spot on Realtor.com’s list of most expensive zip codes. (Jeff Gritchen/MediaNews Group/Orange County Register via Getty Images/Getty Images)
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California claimed six of the top 10 spots in the Realtor.com analysis, despite Malibu dropping from the rankings to 11th.
Smit noted that the 2025 forest fires affected housing demand in that area, saying the area’s decline “reflects bushfire-induced shifts in inventory, with more housing representing land values or rebuilding opportunities rather than turnkey luxury estates.”
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Malibu, California, dropped out of the top 10 list due to last year’s wildfires that hit the housing market. (Anne Cusack/Los Angeles Times via Getty Images/Getty Images)
Here’s a look at the 10 zip codes with the most expensive real estate based on Realtor.com’s analysis:
1. — Newport Coast, California (zip code 92657)
- Average list price of $12.5 million
- 5,552 average square feet
2. — Fisherman’s Island, Florida (33109 Postcode)
- Average list price of $11.98 million
- 3,790 average square feet
3. — Beverly Hills, California (zip code 90210)
- Average list price of $10.495 million
- 5,500 average square feet
A view of mansions in Beverly Hills, California. (iStock)
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4. — Bridgehampton, New York (11932 Postcode)
- Average list price of $8.8 million
- 4,874 average square feet
5. — Bel Air, California (zip code 90077)
- Average list price of $7.947 million
- 5,094 average square feet
Two zip codes in New York’s Hamptons cracked Realtor.com’s 10 most expensive list. (Getty Images)
6. — Watermill, New York (zip code 11976)
- Median list price of $6.995 million
- 5,821 average square feet
7. — Montecito-Santa Barbara, California (zip code 93108)
- Average list price of $6.495 million
- 3,611 average square feet
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One zip code in Arizona made the top 10 list. (iStock)
8. — Rancho Santa Fe, California (zip code 92067)
- Median list price of $5.995 million
- 6,000 average square meters
9. — Newport Beach, California (zip code 92663)
- Median list price of $4.995 million
- 3,058 average square feet
10. — Paradise Valley, Arizona (85253 Postcode)
- Average list price of $5.5 million
- 5,784 average square feet
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