The Greater Meadowlands Region and New York Metro accounts for about 25% of the country’s 100 most expensive zip codes, with Bergen County’s Alpine once again topping the state list and ranking 15th nationwide. New Jersey, New York, and Connecticut were among the 15 states that contributed to the 11th edition of Property Shark’s annual ranking of the 100 most expensive zip codes in the U.S.
Of the rankings, 11 reached new record high prices. Four of the top 100’s five new entries this year were New York metro communities: two in Westchester and two in Cape May. The New York metro region ranked 31 zip codes, tying with the California Bay Area as the country’s priciest metros.
New Jersey was one of 15 states that reached record high prices; nine zip codes surpassed a $5 million median sale price, and 52 topped $3 million. Newport Beach, California, remains the most expensive city, with all six zip codes in the top 100.
Proximity to Water
Of the zip codes in the top 100, 72 are located within five miles of the coast, and 39% are less than one mile away, according to the report. Just five locations are more than 25 miles from the ocean.
California makes up more than half of the list, but its 57% share is its lowest in almost a decade, the report says. Since the pandemic, the Bay Area has seen a shrinking share of expensive zip codes, particularly in the San Fransico area.
Six New Jersey zip codes reached record-high prices, including 07620 in Alpine, at $4.38 million, followed by 08247 in Stone Harbor, at $3.13 million. The only zip code to contract was 07723 in Deal. It’s down close to $1 million YoY to $2.65 million.