Houses in Alpine, NJ, go for $4 million
New York mansion. Image from Wikimedia.
Famous zip code 90210 is only the fifth most expensive place to live in the United States. I will fully admit I was surprised to find out that 07620, the zip code for Alpine, NJ, is the most expensive place to live in the country. The median asking price for homes there is more than $4 million.
This information comes from Forbes.com’s list of “America’s Most Expensive ZIP Codes.” Alpine, NJ, is home to Chris Rock, Stevie Wonder, Mary J. Blige, Sean (Diddy) Combs and Patrick Ewing. And a whole bunch of other rich people. So if you want to buy a home in Alpine, NJ, you better visit the loan company now because I hear getting a $4 million loan takes quite a while.
More about Alpine, NJ
Surprisingly, the $4 million median home price in Alpine, NJ, is down 23 percent from last year. But here’s where it gets really weird. The median household income in Alpine, NJ, is $128,287.
That’s a nice, comfortable household income that I would certainly be happy with. But trying paying for a $4 million home on that salary! I can’t imagine how someone with that income could afford that house. I can only assume that many people who live in the sprawling mansions of Alpine, NJ, have finished their careers and are simply living off of gigantic bank accounts.
After Alpine, NJ
The second most expensive zip code in the U.S. is 94027 in Atherton, CA. The median home price there is $3.85 million. The median income in Atherton is higher than the median income in Alpine, NJ, at $200,000 per household.
Home prices have fallen 26 percent year over year in Atherton, and homes spend an average of 133 days on the market, or between four and five months.
Back to the East Coast
Not far from Alpine, NJ, we find the country’s third most expensive zip code, 10014. Homes in Manhattan’s West Village in New York City have a median asking price of $3.5 million.
The median household income in Manhattan’s West Village is $66,601. I am sure there is some sort of explanation for this, but I’m on a schedule here, so you’ll have to check it out for yourself at Fobes.com.
Duarte, California
Back in the “places I’ve never heard of” category, the fourth most expensive zip code, 91008, is in Duarte, CA. The median asking price for homes there is $3.44 million, and homes there are actually increasing in value.
For the first time on this list, home prices are up 18 percent from last year in Duarte, CA. The median income for this town is not listed, leading me to believe this is another place where rich retirees go to settle down after they are done making money.
Beverly Hills, that’s where I wanna be
Beverly Hills has been immortalized in the unforgettable nighttime drama “Beverly Hills 90210,” countless other television shows and a hit song by Weezer. But it barely makes the Top 5 most expensive places to live in America.
I guess demand to move there must be low. The median asking price in Beverly Hills is $3.37 million, far cry from the $4-million-plus prices in Alpine, NJ. But home prices in Beverly Hills have only dropped 5 percent since last year. The median income in Beverly Hills is $112,572.
Forbes rates country’s 500 most expensive zip codes: America’s Most Expensive ZIP Codes, Forbes.com.
