New Jersey now has six ZIP codes ranked among the most expensive in the U.S., a new record, according to PropertyShark.
The firm’s analysis focused on identifying the 100 most expensive ZIP codes in 2024 by evaluating residential sales that closed during the year. Rather than relying on listing prices—which often reflect sellers’ ambitions rather than actual deals—the study prioritized completed transactions to offer a more reliable picture of market trends. This method provides deeper insight into the true value buyers are willing to pay in these competitive areas. In the last couple of years, the New Jersey real estate market has seen homes surging above asking price, making it challenging for young couples to land their first home. All while loan interest rates continue to skyrocket above six percent.
New Jersey’s rise in the luxury housing market has been steady over the past few years, but 2024 represents a breakthrough. For the first time, the state has placed six ZIP codes on this prestigious list, underscoring its growing appeal among affluent buyers. This achievement highlights the state’s expanding influence in the high-end real estate sector, solidifying its reputation as a destination for wealth and exclusivity.
From 2016 to 2019, only two New Jersey ZIP codes would usually appear on the list of the nation’s most expensive areas. By 2020, that dropped to just one, narrowly securing the 100th spot. But 2024, is another story.
Alpine, NJ
Leading the Garden State’s growth is Alpine, a wealthy community in Bergen County known for its seclusion, attracting high-profile celebrities. In 2024, Alpine ranked 24th nationally, with its median home price rising to $3.32 million—up from $2.9 million in 2023.
Stone Harbor, NJ
Stone Harbor, a coveted beach town located along the Jersey Shore, secured the 70th spot with a median home price of $2.2 million.
Deal, NJ
Mantoloking, NJ
Mantoloking, another highly sought-after Jersey shore destination, secured the 59th spot, with homes averaging a whopping $2.36 million. For anyone who spends summers here, it’ no surprise.
Avalon, NJ
Short Hills, NJ
Short Hills, a suburb known for its sprawling estates also makes the list, but slipped slightly to 93rd place, while still posted a median price of $1.95 million.
