Thursday, April 05, 2007

Top 10 Richest Zip Codes

During the five-year boom in housing prices, from the third quarter through the third quarter of 2006, the prices in the nation’s richest zip codes rose dramatically.

For the United States as a whole, the five-year increase in the Standard & Poor’s Case-Shiller Home Price Index was 63.7 percent, while the increase was 79.5 percent for those zip codes with a median sales price of $750,000 or more, according to Fiserv Lending Solutions, which supplies data and software to lenders.


The following list is the 10 U.S. Zip codes with the greatest appreciation in median property values since 2001. Prices listed are from the second quarter of 2006 and the percentage compares the median increase for the previous five years from the second quarter of 2001 to the second quarter of 2006.


1. Greenwich, Conn. (06831): $2,983,000, 49.3 percent
2. Newport Beach, Calif. (92661): $2,500,000, 132.2 percent
3. Paradise Valley, Ariz. (85253): $1,850,000, 100.4 percent
4. Avalon, N.J. (08202): $1,687,500, 125.7 percent
5. Cambridge, Mass. (02138): $1,395,500, 22.4 percent
6. Glen Head, N.Y. (11545): $1,150,000, 67.2 percent
7. Islamorada, Fla. (33036): $1,150,000, 204.3 percent
8. Chevy Chase, Md. (20815): $1,043,000, 94.8 percent
9. Hinsdale, Ill. (60521): $950,000, 48.4 percent
10. Bellevue, Wash. (98004): $950,000, 83.9 percent

Source: BusinessWeek Online, Peter Coy and Maya Roney (04/02/07)

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