These 5 NJ ZIP Codes Are Among Most Expensive In U.S., New Study Says

ALPINE, NJ — As property values soar around New Jersey, several zip codes in the Garden State have landed among the 100 most expensive in the country.

PropertyShark's annual ranking of the priciest ZIP codes in the U.S. listed five New Jersey communities among the very highest priced.

The 07620 ZIP code, Alpine, comes in at first in New Jersey and 28th nationally, with a listed median sale price of $2.94 million.

The top five in the Garden State are:

1. Alpine, 07620, $2.94M, 28 nationally
2. Avalon, 08202, $2.29M, 56 nationally
3. Sea Girt, 08750, $2.24M, 59 nationally
4. Deal, 07723, $2.1M, 70 nationally
5. Short Hills, 07078, $1.92M, 91 nationally

"New Jersey set a new record with five zip codes ranking among the wealthiest in the country," said the real estate website. "After briefly losing its top position last year to Deal’s 07723 zip code in Monmouth County, New Jersey’s consistently high-priced 07620 zip code in Bergen County’s Alpine regained its leadership role in the state."

In order to determine the most expensive ZIP codes, PropertyShark said that it considered all home transactions that were closed between set dates in January and October of last year. The full "100 Most Expensive U.S. Zip Codes in 2023" report can be found here.

Property Shark says they "calculated median sale prices based on closed home sales, not asking prices, as we consider this methodology to provide the most accurate picture of actual market dynamics. Whereas asking prices reflect sellers wishes, calculating medians based on sale prices reflects the transactional reality on the ground."

California claimed 79 of the most expensive ZIP codes in the country — the most of any state. New York had the second most with 22 ZIP codes making the list.

See Property Shark's full list of rankings and details about the methodology here.