From the coastal suburbs of Newport Coast, CA, to the secluded beaches of Fisher Island, FL, America’s most expensive ZIP codes have a lot in common: sprawling neighborhoods defined by privacy, panoramic vistas, and a guaranteed buyer pool with budgets big enough to pay eight-figure price tags.
Economists at Realtor.com® recently identified the 10 most expensive communities across the U.S. To do that, they focused on areas with at least 30 active listings in January. Among those eligible ZIP codes, they rank the markets by median list price. When the median listing price was the same in two markets, the median square footage was the deciding factor.
“Recent data analysis shows that entry into these 10 exclusives now starts at $5.5 million, putting these communities in a completely different category even in luxury markets,” said Realtor.com’s chief economist. Anthony Smith.
In context, the entry fee for this special category is reserved for those with really deep pockets: Moving to one of the most expensive ZIP codes costs nearly five times the current luxury threshold of $1.2 million.
And while high-end markets continue to command an eight-figure sum, the entry point in January fell below the $5.9 million peak recorded in July 2025.
As Smith points out, the difference is stark: While only 12% of listings nationwide are worth more than $1 million, that share is close to 100% in the most expensive ZIP codes, where a million dollars is rare enough to even get a foot in the door.
Who’s in, who’s out?
California continued to dominate the rankings, claiming six of the top 10 spots, with Newport Coast at the top. Malibu, CA, dropped from July, slipping to 11th place.
Smith explains that the effects of last year’s devastating wildfires have wreaked havoc on the beach, with consumer interest down 46% over the summer.
“That decline reflects a shift in wildfire-driven inventory, with many listings representing land value or rebuilding opportunities rather than turnkey luxury properties,” the economist said.
However, January’s ranking saw two ZIP codes break into the top spot: Newport Beach, CA, and Paradise Valley, AZ.
1. Newport Coast, CA
Policy number: 92657
Median list price: $12.5 million
Average square feet: 5,552
In a big change since the summer of 2025, Newport Coast, CA, dethroned Miami Beach’s Fisher Island as America’s most expensive ZIP code in January 2026.
Located between Corona del Mar and Laguna Beach, and nicknamed the “Pacific Riviera,” Newport Coast is the epitome of luxury living. The well-planned Orange County enclave features private hillside estates that offer panoramic views of the Pacific Ocean. Additionally, the upscale community includes the famous Pelican Hill Golf Club and many specialty shops and restaurants.
2. Fisher Island, FL
Policy number: 33109
Median list price: $11.98 million
Average square feet: 3,790
Crowned last year as the most expensive place in the nation, Fisher Island in January dropped to second with an average price of just under $12 million. While Fisher Island, a 216-acre community in southern Miami Beach, is known for its exclusivity, Smith notes that its properties offer a relatively small average structure.
Ana Bozovica Miami-based real estate agent and founder of Analytics Miami, tells Realtor.com that Fisher Island’s decline doesn’t surprise him, considering it’s an inherently small, low-margin market.
“When annual transaction volume is limited, the sale of one or two medals can have a significant impact on average prices,” he said. “It functions less like a typical condo market and more like a private wealth storage facility.”
Bozovic says Fisher Island’s buyer profiles are a mix of local and international 1 percenters flocking to the Miami metro area as it matures into a global capital.
“We see entrepreneurs, financial managers, family offices and investors traveling all over the world,” he adds. “The unifying factor is privacy combined with proximity. Buyers want privacy without sacrificing access to Miami’s growing financial and business community.”
3. Beverly Hills, CA
Policy number: 90210
Median list price: $10.495 million
Average square feet: 5,500
Arguably the most famous ZIP code in the US, Beverly Hills 90210 remains synonymous with celebrity culture and is home to the Hollywood A-list. The neighborhood’s palm-lined streets are lined with luxury homes for the rich and famous just a stone’s throw from the designer shops of Rodeo Drive.
4. Bridgehampton, NY
Policy number: 11932
Median list price: $8.8 million
Average square feet: 4,874
The well-heeled home of the Hamptons, Bridgehampton is well known as the region’s horse country and is famous in international horse circles for hosting the annual Hampton Classic Horse Show. The community offers a mix of quaint rural charm, modern architecture, and upscale shopping and dining.
5. Bel-Air—Los Angeles, CA
Policy number: 90077
Median list price: $7.947 million
Average square feet: 5,094
Bel-Air, the confirmed setting for the ’90s sitcom “Fresh Prince of Bel-Air” Will Smithis one of the best places for actors and business professionals who want privacy and security. Together with Beverly Hills and Holmby Hills, Bel-Air forms Los Angeles’ “Platinum Triangle”—the epicenter of wealth.
6. Water Mill, NY
Policy number: 11976
Median list price: $6.995 million
Average square feet: 5,821
Another well-known Hamptons hamlet, Water Mill gets its name from Long Island’s first water-powered mill that was built in 1644. Today, the picturesque seaside community is filled with large estates and boasts a thriving art scene anchored by the Parrish Art Museum.
7. Montecito—Santa Barbara, CA
Policy number: 93108
Median list price: $6.495 million
Average square feet: 3,611
Dina Landimanaging partner at Riskin Partners Estate Group, a Montecito-based real estate agency, tells Realtor.com that Montecito acts as its own small market, even within Santa Barbara County.
“At the high end, it behaves more like a global luxury market than a traditional California market,” Landi said.
Home of names in houses like Prince Harry, Meghan Markleagain Oprah WinfreyMontecito is a very exclusive real estate market with limited inventory, mostly in the most sought after turnkey, newly constructed, and completely renovated sections.
“There are only so many buildings in a reasonable location with privacy, views, and architectural pedigree,” Landi explained. “Because of that scarcity, high rates tend to be more influenced by wealth cycles and confidence than interest rates alone.”
What sets Montecito apart is the combination of its proximity to Los Angeles and San Francisco, and its vibrant culture and cuisine, without the hustle and bustle of urban life. According to Landi, local consumers value above all quality of life, privacy, discretion, and aesthetic integrity.
“Montecito’s location, its proximity to the mountains and the ocean, is what makes it so rare, and what limits availability,” Landi noted. “Between environmental constraints and regulatory realities, creating a meaningful new inventory is difficult to create.”
8. Rancho Santa Fe, CA
Policy number: 92067
Median list price: $5.995 million
Average square feet: 6,000
Located about 30 minutes north of downtown San Diego, Rancho Santa Fe is celebrated for its luxurious horse ranches and Spanish revival or Mediterranean-style mansions that offer secluded living. At the center of the community is a 10 square kilometer area called “Treaty,” which includes a minimum of 2 hectares of land and cypress trees.
9. Newport Beach, CA
Policy number: 92663
Median list price: $5.995 million
Average square feet: 3,058
Busier than neighboring Newport Coast, the community of Newport Beach is a popular destination for surfers, boaters, and anglers who flock to its 8 miles of sandy beaches and one of the largest marinas in the world. For those not interested in water sports, Newport Beach offers fine dining, with fresh seafood widely available, as well as shopping at Fashion Island.
10. Paradise Valley, AZ
Policy number: 85253
Median list price: $5.5 million
Average square feet: 5,784
A new addition to the ranking of the most expensive ZIP codes in America, Paradise Valley, AZ, is the most affordable of all the areas on the list with an average price of $5.5 million. Located between Phoenix and Scottsdale, the desert enclave attracts affluent homebuyers seeking a peaceful lifestyle with maximum privacy and stunning mountain views.
Despite its laid-back location, Paradise Valley offers its residents access to world-class resorts, golf courses, and fine dining options.
