Most Expensive Zip Code in the US

August 31, 2009 - United States

Forbes 2009 list of the most expensive zip codes in America for median home sales has recently been released.

Topping their list this year is the expensive zip of 07620, Alpine, New Jersey, although prices there fell 23% over the past year.

The posh burb full of huge houses has a median home price of $4,139,041.

The town has been home to Britney Spears, Sean Combs, Russell Simmons and Eddie Murphy, The most expensive property on the market in the zip code is the manor house at the former Frick Estate. The 27-acre property is listed at $59 million.

Atherton, Calif. (94027) is the nation's second most expensive ZIP code with a median asking price of $3.85 million, but prices there also declined by 23%.

And New York's once-bohemian West Village neighborhood (10014) is by now fully gentrified, as demonstrated by its third-place finish and a $3.5 million median asking price. Still, over the past 12 months, prices in the West Village have fallen by 24%.

Forbes' list comes from real estate statistics provided by Altos Research, a national real estate data collection and research firm that tracks over 15,000 ZIP codes, amounting to about 90% of all real estate transactions.

Home prices are based on the asking price for combined single-family and multiple-family markets. ZIPs were ranked according to the median home price.

Source: Forbes - Photos : Sotheby's

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