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Most Expensive ZIP Codes

October 8, 2007

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In case you missed it last week, Forbes published their list of the 500 most expensive zip codes in the U.S. for 2007. 07620 (Alpine, New Jersey) and 33109 (Fisher Island, Miami Beach, Florida) tied for the top spot, with a median price of $3.4 Million. The rankings are based on median sale prices from June 2006 to July 2007 and are dominated by zips in California, Florida, and the NYC metro area. If the rankings surprise you, it is worth noting that, as with all such studies, the methodology determines the results. As the author notes:

Though often shorthand for neighborhoods, ZIPs don’t change to reflect shifting neighborhood or demographic boundaries. The result? Our list is a bit slanted toward low-density enclaves like Alpine, where there are 333 people per square mile, as opposed to parts of Manhattan, where there are 45,800 people per square mile and a larger variance of home prices.

In a world of lies, damned lies and statistics, it is nice to see a bit of explanation instead of spin.

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3 comments

  1. Did you go through the list to see what zips are in the Central Florida area?


  2. Eric, The only Florida zip codes that made it on the list were #1 – 33109 which is in Miami Beach in Miami-Dade County with a median sale price of $3,400,000. Next was #66 – 33924 which is in Captiva in Lee County – $1,200,000. Next was #101 – 33921 which is in Boca Grande in Lee County – $1,002,500. Next was #370 – 34103 which is in Naples in Collier County – $747,500. Next was #405 – 33149 which is Key Biscayne in Miami-Dade County – $730,000. Next was #424, which is Longboat Key in Manatee County – $721,750. And last was #477 – 33146 in Miami, Miami-Dade County at $695,000.

    So to answer your question, none of the top zip codes were on the list, although there is always next year!


  3. When I first read the Forbes article I was happy to see that California (where I lived most of my life) and Florida (where I now reside) practically controlled the expensive zip code market. I was especially interested in the fact that the luxury home market was still going up in value although not as many homes were sold.



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