Homes cost more than $4 million in the most expensive in greater New York- and Los Angeles-area neighborhoods, with Sagaponack, New York, leading the pack, according to an analysis that compared the nation's two largest metropolises.
The median price for a home in the tony Hamptons enclave costs $6,972,500, according to online realtor RealtyHop.
That's followed closely by 90210, perhaps the most famous ZIP code in the U.S. due to the popular TV show "Beverly Hills, 90210." Homes in this part of Beverly Hills cost $6,699,500.
In third place is Water Mill, one of the five Hamptons ZIP codes in the top 10 rankings, which are listed below.
1. Sagaponack, New York (11962)
Median home sale price in 2022: $6,972,500
2. Beverly Hills, California (90210)
Median home sale price in 2022: $6,699,500
3. Water Mill, New York (11976)
Median home sale price in 2022: $5,500,000
4. Shelter Island Heights, New York (11965)
Median home sale price in 2022: $4,750,000
5. Newport Beach, California (92662)
Median home sale price in 2022: $4,674,750
6. Bridgehampton, New York (11932)
Median home sale price in 2022: $4,395,000
7. Amagansett, New York (11930)
Median home sale price in 2022: $4,250,000
8. Newport Beach, California (92661)
Median home sale price in 2022: $4,150,000
9. Mill Neck, New York (11765)
Median home sale price in 2022: $4,000,000
10. Quogue, New York (11959)
Median home sale price in 2022: $3,999,999
While seven New York ZIP codes dominate the rankings, Los Angeles has a comparable number of expensive neighborhoods, including Santa Monica and the Pacific Palisades, which rank 12th and 14th, respectively.
For the analysis, RealtyHop examined the greater five-county metropolitan area surrounding Los Angeles. The greater New York area includes nearby New Jersey counties and Long Island.
Both cities are wealth magnets, with New York City ranked first overall for the number of residents who are millionaires, and Los Angeles ranked sixth, according to a recent study. That study didn't include Long Island, however, which includes even more wealthy residents that live in the Hamptons.
To compile the rankings, RealtyHop looked at prices for all types of homes in all ZIP codes in the U.S. between Jan. 1, 2022, and Oct. 19, 2022. Listings with invalid ZIP codes, including single-building ZIP codes, were excluded.
Sign up now: Get smarter about your money and career with our weekly newsletter
Don't miss: Investing experts predict a 'soft-ish landing' for the economy in 2023—here's what that means for your money
