A new analysis of the 10 most expensive zip codes in the United States reveals that California continues to be home to a significant portion of the country’s most luxurious properties.
From economists to Realtor.com sought to find the 10 most expensive communities in the United States by focusing on areas with at least 30 active listings in January to identify qualified ZIP codes. From there, they ranked the markets by median listing price. And, in cases where this was tied in two markets, the median square footage of the properties listed was used as the tiebreaker.
“The latest data analysis shows that entry into this exclusive top 10 now starts at $5.5 million, placing these communities in an entirely separate category from the broader luxury market,” said Realtor.com Senior Economist Anthony Smith.
That $5.5 million figure is about five times the current $1.2 million threshold for luxury, although it’s an entry point to ultra-luxury properties has declined from a high of $5.9 million in July 2025. Only 12% of listings nationwide are priced above $1 million, but Smith noted that share is nearly 100% in the country’s most expensive ZIP codes.
Newport Beach, California takes 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 earned six of the top 10 spots in Realtor.com’s analysis despite Malibu falling from the rankings to 11th place.
Smith noted that the Forest fires in 2025 has affected housing demand in this region, saying the region’s decline “reflects wildfire-driven inventory changes, with more listings representing land value or rebuilding opportunities rather than turnkey luxury estates.”
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Malibu, California, was dropped from the top 10 due to last year’s wildfires that affected the real estate 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, according to Realtor.com’s analysis:
1. — Newport Coast, California (zip code 92657)
Median list price of $12.5 million5,552 median square feet2. — Fisher Island, Florida (zip code 33109)
Median list price of $11.98 million3,790 median square feet3. — Beverly Hills, California (zip code 90210)
Median list price of $10.495 million5,500 median square feet A view of mansions in Beverly Hills, California. (iStock)
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4. — Bridgehampton, new York (zip code 11932)
Median list price of $8.8 million4,874 median square feet5. — Bel Air, California (zip code 90077)
Median list price of $7.947 million5,094 median square feet Two ZIP codes located in New York’s Hamptons ranked in Realtor.com’s top 10 most expensive codes. (Getty Images)
6. — Watermill, New York (zip code 11976)
Median list price of $6.995 million5,821 median square feet7. — Montecito-Santa Barbara, California (zip code 93108)
Median list price of $6.495 million3,611 median square feetAMERICA’S MOST EXPENSIVE HOME LISTING FALLS TO $99.9M AFTER MASSIVE $40M PRICE REDUCTION FROM ORIGINAL ASK
A zip code in Arizona was in the top 10. (iStock)
8. — Rancho Santa Fe, California (zip code 92067)
Median list price of $5.995 million6,000 median square feet9. — Newport Beach, California (zip code 92663)
Median list price of $4.995 million3,058 median square feet10. — Valley of Paradise, Arizona (zip code 85253)
Median list price of $5.5 million5,784 median square feetGET FOX BUSINESS ON THE GO BY CLICKING HERE
