Real estate is one of the largest investments that people make in their lifetime. Most people don’t want to take the plunge unless they are sure that the property value will increase or stay the same in the future. Every year, new data emerges which reflects the current cost of living in different zip codes across the US. This year, the data reveals the most expensive zip code in America.
What are the Costliest Zip Codes in the US?
When it comes to real estate, not all zip codes are made equal. Each zip code has a unique appeal based on amenities and cost of living. The most expensive zip codes generally have luxurious amenities, and boast high real estate values.
The costliest zip codes are those where the median state home prices have increased significantly due to rising incomes and population growth.
Some of the most expensive zip codes in the US include Beverly Hills (CA 90210), Stanford (CA 94305), Mill Valley (CA 94941), Atherton (CA 94027), and East Hampton (NY 11937).
The Data that Revealed the Most Expensive Zip Code in America
In order to determine the most expensive zip code in the US, sales data provided by the National Association of Realtors was employed. The financial records of more than 20,000 zip codes were assessed to determine how the cost of living varies across different US locations.
The data revealed that Fisher Island (FL 33109) is the most expensive zip code in America. Located off the coast of Miami Beach, Fisher Island is an exclusive island community home to the wealthiest of Americans.
The Benefits of Living in Flex Island (FL 33109)
Living in Fisher Island (FL 33109) comes with a cluster of benefits. The island has the most expensive real estate in the country and the average price of a home is north of $5.75 million.
Families in Fisher Island enjoy luxury amenities including restaurants, golf courses, tennis courts, marinas and resorts. With lower crime rates than Miami Beach and many other major cities, Fisher Island is the perfect refuge for families looking for safety, privacy and comfort.
How Much Are Homes Worth in Fisher Island (FL 33109)?
Homes in Fisher Island (FL 33109) are unlike homes in any other US zip code. The cost of homes on the island range from $2 million to over $25 million.
The most expensive properties in the area can be found on Fisher Island Drive, Bayside Village Drive, Oceanside Drive and the Upper Island Drive area. The high prices are due to the stunning bay views that many of the properties in these areas offer.
What Drives Up Prices in Fisher Island (FL 33109)?
The exclusivity of Fisher Island (FL 33109) is the primary factor that has driven up prices in the area. Due to the island’s limited access, homeownership is a real commitment. Those that can afford to purchase and live in the community usually stay put.
In addition to the exclusivity of Fisher Island, its close proximity to Miami makes it a desirable place to live. Residents have easy access to all of the attractions and activities that it has to offer.
Another factor driving prices up in the area is the growing demand for luxury real estate. Fisher Island is home to some of the most luxurious homes in America, which has caused the prices of properties in the area to increase significantly over the last few years.
Fisher Island (FL 33109) continues to stand out as the most expensive zip code in America according to data from the National Association of Realtors. The exclusive island community boasts high real estate values, often reaching over $5 million per property.
Those looking to purchase a home in the area should be aware of the various factors driving up prices in the area, including exclusivity of the island, its close proximity to Miami, and the growing demand for luxury real estate.