(The Center Square) – A new study from PropertyShark found that the most expensive zip codes include beach cities in California and Florida, the Long Island area, and Medina, Washington.
The mostly residential city right next to Bellevue was ranked the sixth most expensive zip code with a median sale price of $4.75 million in PropertyShark’s study.
Medina joins 13 other zip codes across the country to surpass the $4 million median mark. Atherton in Silicon Valley topped the list with a median price of $7.9 million, followed by Sagaponack in Long island ($5,750,000), Ross in California. ($5,500,000), Miami Beach ($5,200,000) and Beverly Hills ($5,122,000).
“As mortgage rates reached 20-year highs and the economy began to falter, the overall U.S. housing market saw sales drop and price growth slow,” PropertyShark reported. “Yet, among the 100 most expensive zip codes in the U.S., prices were on the upswing in even more locations this year than last, with 86% of zips experiencing increases.”
Medina’s ranking at number six is the highest a Washington State city has ever ranked in PropertyShark’s report. Notable residents of the small waterfront village include Billionaires Jeff Bezos and Bill Gates.
According to the Office of the King County Assessor, Medina’s estimated median property tax bill is $23,736 in 2022.
The City of Bellevue had three zip codes in the report’s Washington State ranking. Notably, Seattle zip codes did not crack the top 10.
Washington State’s ranking for most expensive zip codes is as follows:
Medina, 98039: $4,750,000Mercer Island, 98040: $2,280,000Bellevue, 98004: $1,900,000Sammamish, 98075: $1,869,000Kirkland, 98033: $1,558,000Bellevue, 98006: $1,550,000Sammamish, 98074: $1,540,000Woodinville, 98077: $1,535,000Bellevue, 98005: $1,396,000Redmond, 98053: $1,320,000