As if you needed a reminder, an annual list released by Forbes confirms just how expensive it can be to live in Westchester. An annual ranking of the most expensive zip codes to live in the country by the magazine ranked both Rye and Purchase in the top 100.
But take heart, there are still quite a few places in the country that are even more expensive to live. Rye (10580) was the highest in the county, but placed 78th on the list. The zip codes were ranked by median home price. The median price for a home in Rye, according to the dataset, is $2.46 million. Purchase (10577) was just behind in 80th place, with a median home price of $2.44 million.
Bedford Hills (10507) was the next most expensive, but landed outside the top 100 at 138. The median home sale price there is $1.88 million. Nearby, Greenwich placed a zip code (06831) in 50th place with a median home price of $2.95 million and Old Greenwich placed zip codes at 69th and 82nd, with a median price of $2.55 million (06870) and $2.17 million (06870), respectively.
Don’t expect a break in prices anytime soon, either. A Financial Times report in October noted that Westchester prices were being driven up by rising property prices in Manhattan.
“Growing families are increasingly being priced out of Manhattan,” Nancy Strong of the Douglass Elliman residential brokerage company told the Financial Times. “So they look at what their money gets in New York City and then decide they want more space and better schools for their kids, and they begin looking in Westchester.”
The most expensive zip code in the country, according to Forbes, is in Atherton, California, an extremely wealthy city near Stanford University with a median home price of $10.56 million. The most expensive in New York is in Sagaponack on Long Island, which was second overall in the country with a median home price of $7.42 million.