This story originally appeared on Construction Coverage.
Despite widespread economic declines brought on by the COVID-19 pandemic, the real estate market has remained surprisingly strong, with decade-high increases in overall existing home sales.
In addition to an increase in the number of home sales, the price of residential real estate has also been on the rise, increasing every month of 2020. Since the onset of COVID-19 in early March, median home prices have increased by 2.3%, according to data from Zillow. Steady increases in home prices can be traced back to the second quarter of 2012, following the end of the Great Recession.
At the state level, the highest median home prices are found in Hawaii, California, Massachusetts and Washington state. Conversely, the lowest median home prices can be found in Alabama, Oklahoma, Arkansas, Mississippi and West Virginia.
The data used in this analysis is from the Zillow Home Value Index. The median home price shown represents the most recent Zillow Home Value Index, accessed on Sept. 3, 2020. Median home prices include all homes in a given ZIP code, including single-family homes, condos and co-ops. For each state, the ZIP code with the highest median home price was identified and used as the basis for this list. Only ZIP codes with available data from Zillow were included in the analysis.
Many of the nation’s most expensive ZIP codes are located just outside of major urban areas — which, given shifting preferences among homebuyers in the wake of COVID-19, are likely poised for future price increases. Here are the most expensive ZIP codes in each state.
Alabama
- Most expensive ZIP code: 36564
- City: Fairhope
- Metro: Daphne-Fairhope-Foley
- ZIP code median home price: $616,543
- State median home price: $148,085
- Difference between ZIP code and state price: 4.2X
Alaska
- Most expensive ZIP code: 99516
- City: Anchorage
- Metro: Anchorage
- ZIP code median home price: $489,476
- State median home price: $308,030
- Difference between ZIP code and state price: 1.6X
Arizona
- Most expensive ZIP code: 85253
- City: Paradise Valley
- Metro: Phoenix-Mesa-Scottsdale
- ZIP code median home price: $1,738,918
- State median home price: $295,462
- Difference between ZIP code and state price: 5.9X
Arkansas
- Most expensive ZIP code: 72223
- City: Little Rock
- Metro: Little Rock-North Little Rock-Conway
- ZIP code median home price: $345,799
- State median home price: $134,987
- Difference between ZIP code and state price: 2.6X
California
- Most expensive ZIP code: 94027
- City: Atherton
- Metro: San Francisco-Oakland-Hayward
- ZIP code median home price: $6,444,729
- State median home price: $589,675
- Difference between ZIP code and state price: 10.9X
Colorado
- Most expensive ZIP code: 81656
- City: Aspen
- Metro: Glenwood Springs
- ZIP code median home price: $2,807,116
- State median home price: $425,531
- Difference between ZIP code and state price: 6.6X
Connecticut
- Most expensive ZIP code: 06830
- City: Greenwich
- Metro: Bridgeport-Stamford-Norwalk
- ZIP code median home price: $1,540,123
- State median home price: $282,098
- Difference between ZIP code and state price: 5.5X
Delaware
- Most expensive ZIP code: 19944
- City: Fenwick Island
- Metro: Salisbury
- ZIP code median home price: $912,876
- State median home price: $270,434
- Difference between ZIP code and state price: 3.4X
Florida
- Most expensive ZIP code: 33109
- City: Fisher Island
- Metro: Miami-Fort Lauderdale-West Palm Beach
- ZIP code median home price: $3,306,557
- State median home price: $268,442
- Difference between ZIP code and state price: 12.3X
Georgia
- Most expensive ZIP code: 31561
- City: Sea Island
- Metro: Brunswick
- ZIP code median home price: $2,441,842
- State median home price: $211,348
- Difference between ZIP code and state price: 11.6X
Hawaii
- Most expensive ZIP code: 96821
- City: Honolulu
- Metro: Urban Honolulu
- ZIP code median home price: $1,388,264
- State median home price: $730,366
- Difference between ZIP code and state price: 1.9X
Idaho
- Most expensive ZIP code: 83353
- City: Sun Valley
- Metro: Hailey
- ZIP code median home price: $794,606
- State median home price: $307,576
- Difference between ZIP code and state price: 2.6X
Illinois
- Most expensive ZIP code: 60043
- City: Kenilworth
- Metro: Chicago-Naperville-Elgin
- ZIP code median home price: $1,362,558
- State median home price: $209,305
- Difference between ZIP code and state price: 6.5X
Indiana
- Most expensive ZIP code: 47406
- City: Bloomington
- Metro: Bloomington
- ZIP code median home price: $804,431
- State median home price: $163,832
- Difference between ZIP code and state price: 4.9X
Iowa
- Most expensive ZIP code: 51355
- City: Okoboji
- Metro: Spirit Lake
- ZIP code median home price: $397,028
- State median home price: $158,135
- Difference between ZIP code and state price: 2.5X
Kansas
- Most expensive ZIP code: 66221
- City: Overland Park
- Metro: Kansas City
- ZIP code median home price: $554,876
- State median home price: $155,546
- Difference between ZIP code and state price: 3.6X
Kentucky
- Most expensive ZIP code: 40025
- City: Louisville
- Metro: Louisville/Jefferson County
- ZIP code median home price: $1,174,012
- State median home price: $152,660
- Difference between ZIP code and state price: 7.7X
Louisiana
- Most expensive ZIP code: 70115
- City: New Orleans
- Metro: New Orleans-Metairie
- ZIP code median home price: $510,838
- State median home price: $171,095
- Difference between ZIP code and state price: 3X
Maine
- Most expensive ZIP code: 04006
- City: Biddeford
- Metro: Portland-South Portland
- ZIP code median home price: $1,035,742
- State median home price: $254,824
- Difference between ZIP code and state price: 4.1X
Maryland
- Most expensive ZIP code: 21056
- City: Gibson Island
- Metro: Baltimore-Columbia-Towson
- ZIP code median home price: $1,851,737
- State median home price: $331,466
- Difference between ZIP code and state price: 5.6X
Massachusetts
- Most expensive ZIP code: 02199
- City: Boston
- Metro: Boston-Cambridge-Newton
- ZIP code median home price: $3,770,307
- State median home price: $451,909
- Difference between ZIP code and state price: 8.3X
Michigan
- Most expensive ZIP code: 49434
- City: Holland
- Metro: Grand Rapids-Wyoming
- ZIP code median home price: $802,334
- State median home price: $178,172
- Difference between ZIP code and state price: 4.5X
Minnesota
- Most expensive ZIP code: 55424
- City: Edina
- Metro: Minneapolis-St. Paul-Bloomington
- ZIP code median home price: $842,957
- State median home price: $271,782
- Difference between ZIP code and state price: 3.1X
Mississippi
- Most expensive ZIP code: 39110
- City: Madison
- Metro: Jackson
- ZIP code median home price: $280,306
- State median home price: $127,196
- Difference between ZIP code and state price: 2.2X
Missouri
- Most expensive ZIP code: 63124
- City: Ladue
- Metro: St. Louis
- ZIP code median home price: $884,416
- State median home price: $170,186
- Difference between ZIP code and state price: 5.2X
Montana
- Most expensive ZIP code: 59716
- City: Gallatin Gateway
- Metro: Bozeman
- ZIP code median home price: $813,763
- State median home price: $293,505
- Difference between ZIP code and state price: 2.8X
Nebraska
- Most expensive ZIP code: 68461
- City: Walton
- Metro: Lincoln
- ZIP code median home price: $478,320
- State median home price: $182,426
- Difference between ZIP code and state price: 2.6X
Nevada
- Most expensive ZIP code: 89413
- City: Glenbrook
- Metro: Gardnerville Ranchos
- ZIP code median home price: $2,323,262
- State median home price: $324,174
- Difference between ZIP code and state price: 7.2X
New Hampshire
- Most expensive ZIP code: 03871
- City: Rye
- Metro: Boston-Cambridge-Newton
- ZIP code median home price: $1,582,708
- State median home price: $318,983
- Difference between ZIP code and state price: 5X
New Jersey
- Most expensive ZIP code: 07620
- City: Alpine
- Metro: New York-Newark-Jersey City
- ZIP code median home price: $2,319,901
- State median home price: $358,351
- Difference between ZIP code and state price: 6.5X
New Mexico
- Most expensive ZIP code: 87506
- City: Santa Fe
- Metro: Santa Fe
- ZIP code median home price: $748,975
- State median home price: $215,785
- Difference between ZIP code and state price: 3.5X
New York
- Most expensive ZIP code: 11962
- City: Sagaponack
- Metro: New York-Newark-Jersey City
- ZIP code median home price: $4,880,017
- State median home price: $278,481
- Difference between ZIP code and state price: 17.5X
North Carolina
- Most expensive ZIP code: 28207
- City: Charlotte
- Metro: Charlotte-Concord-Gastonia
- ZIP code median home price: $1,018,264
- State median home price: $214,658
- Difference between ZIP code and state price: 4.7X
North Dakota
- Most expensive ZIP code: 58521
- City: Baldwin
- Metro: Bismarck
- ZIP code median home price: $423,086
- State median home price: $242,002
- Difference between ZIP code and state price: 1.7X
Ohio
- Most expensive ZIP code: 44040
- City: Gates Mills
- Metro: Cleveland-Elyria
- ZIP code median home price: $504,213
- State median home price: $159,974
- Difference between ZIP code and state price: 3.2X
Oklahoma
- Most expensive ZIP code: 73151
- City: Oklahoma City
- Metro: Oklahoma City
- ZIP code median home price: $433,856
- State median home price: $135,996
- Difference between ZIP code and state price: 3.2X
Oregon
- Most expensive ZIP code: 97034
- City: Lake Oswego
- Metro: Portland-Vancouver-Hillsboro
- ZIP code median home price: $869,740
- State median home price: $374,051
- Difference between ZIP code and state price: 2.3X
Pennsylvania
- Most expensive ZIP code: 19035
- City: Lower Merion Township
- Metro: Philadelphia-Camden-Wilmington
- ZIP code median home price: $1,037,348
- State median home price: $204,007
- Difference between ZIP code and state price: 5.1X
Rhode Island
- Most expensive ZIP code: 02807
- City: New Shoreham
- Metro: Providence-Warwick
- ZIP code median home price: $1,098,981
- State median home price: $320,919
- Difference between ZIP code and state price: 3.4X
South Carolina
- Most expensive ZIP code: 29482
- City: Sullivan’s Island
- Metro: Charleston-North Charleston
- ZIP code median home price: $2,006,180
- State median home price: $198,204
- Difference between ZIP code and state price: 10.1X
South Dakota
- Most expensive ZIP code: 57759
- City: Deadwood
- Metro: Spearfish
- ZIP code median home price: $343,017
- State median home price: $217,925
- Difference between ZIP code and state price: 1.6X
Tennessee
- Most expensive ZIP code: 37215
- City: Nashville
- Metro: Nashville-Davidson–Murfreesboro–Franklin
- ZIP code median home price: $696,557
- State median home price: $193,693
- Difference between ZIP code and state price: 3.6X
Texas
- Most expensive ZIP code: 75205
- City: University Park
- Metro: Dallas-Fort Worth-Arlington
- ZIP code median home price: $1,213,386
- State median home price: $215,258
- Difference between ZIP code and state price: 5.6X
Utah
- Most expensive ZIP code: 84060
- City: Park City
- Metro: Summit Park
- ZIP code median home price: $1,110,126
- State median home price: $374,443
- Difference between ZIP code and state price: 3X
Vermont
- Most expensive ZIP code: 05445
- City: Charlotte
- Metro: Burlington-South Burlington
- ZIP code median home price: $580,226
- State median home price: $269,830
- Difference between ZIP code and state price: 2.2X
Virginia
- Most expensive ZIP code: 22101
- City: McLean
- Metro: Washington-Arlington-Alexandria
- ZIP code median home price: $1,163,914
- State median home price: $296,784
- Difference between ZIP code and state price: 3.9X
Washington
- Most expensive ZIP code: 98039
- City: Medina
- Metro: Seattle-Tacoma-Bellevue
- ZIP code median home price: $3,036,977
- State median home price: $443,215
- Difference between ZIP code and state price: 6.9X
West Virginia
- Most expensive ZIP code: 25443
- City: Shepherdstown
- Metro: Washington-Arlington-Alexandria
- ZIP code median home price: $303,529
- State median home price: $107,542
- Difference between ZIP code and state price: 2.8X
Wisconsin
- Most expensive ZIP code: 53726
- City: Madison
- Metro: Madison
- ZIP code median home price: $543,267
- State median home price: $204,826
- Difference between ZIP code and state price: 2.7X
Wyoming
- Most expensive ZIP code: 83014
- City: Wilson
- Metro: Jackson
- ZIP code median home price: $1,372,850
- State median home price: $255,101
- Difference between ZIP code and state price: 5.4X
District of Columbia
- Most expensive ZIP code: 20052
- City: Washington
- Metro: Washington-Arlington-Alexandria
- ZIP code median home price: $1,274,732
- State median home price: $743,956
- Difference between ZIP code and state price: 1.7X
Add a Comment
Our Policy: We welcome relevant and respectful comments in order to foster healthy and informative discussions. All other comments may be removed. Comments with links are automatically held for moderation.