This fall, real estate industry blog PropertyShark released its annual research on the top 100 most expensive U.S zip codes in 2023. Westchester County welcomes a new zip code to the prestigious list this year.
One Westchester town held its ground and has remained on the list since 2017, while a fresh local contender emerged onto the ranks. Can you guess which two locales are among the country’s priciest zip codes?
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Drum roll please…Rye and Purchase! This marks Rye’s sixth consecutive year being ranked, leaving people on their toes about its placement on future lists as it just narrowly clinched the #100 spot on this year’s list. The study shows that Rye has experienced a steady decline in recent years.
This fall, another Westchester town in close proximity to Rye made it into the mix. Purchase, also known as the 10577, landed at #64 of the most expensive zip codes, with a median sale price of $2.2 million.
Overall, the list breaks down which states have the most expensive zip codes. California sits comfortably at the top with the Bay Area as the most expensive metropolitan area in the country with 37 zip codes. Los Angeles is next on the list with 29 of the top zips, and then New York with 22 in total. To put it in perspective, New York represents 18% of the richest zip codes for real estate in the country.
Rye has kept its spot on the list since 2017; however, its ranking has been slowly decreasing as the area bumped to #100 after landing #89 last year. Only time will tell if Rye is able to keep its spot on the 2024 ranking report.
The PropertyShark report states that following the Federal Reserve raising interest rates 10 times between 2022 and 20223, to combat inflation, the country’s housing market has finally begun to simmer down. Overall, in 2023 the housing market witnessed a general decline in median sale prices with 70 out of the 122 zip codes seeing price drops.