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Thirteen zip code areas in New Jersey are among the most expensive places to live in the country, according to data from rental marketplace Zillow.
The Zillow Home Value Index uses a proprietary formula to determine the typical home value in a given area. Of the nearly 26,000 U.S. ZIP codes, 13 in the Garden State are in the top 1%, with typical home prices ranging from $1.6 million to $3.8 million. Zillow’s data reflects home values through July 31.
Deal in Monmouth County tops the list of most expensive zip codes in New Jersey with an average home value of $3,790,950 (up from $632,250 in January 2020).
In New Jersey, real estate prices in Stone Harbor (Cape May County) have risen the most since January 2020, according to Zillow. A typical home there costs $2,372,463, up from $273,145 previously. Stone Harbor is the fourth most expensive zip code in New Jersey, according to Zillow.
Eight of New Jersey’s 13 most expensive zip codes are in Monmouth and Ocean counties, where home prices can be well above the state average of $537,916.
The most expensive zip codes in New Jersey
| NJ Rankings | US ranking | City | Typical home price |
| 1 | 25 | Deal (07723) in Monmouth County | $3,790,950 |
| 2 | 45 | Alpine (07620) in Bergen County | $2,998,087 |
| 3 | 69 | Avalon (08202) in Cape May County | $2,575,356 |
| 4 | 80 | Stone Harbor (08247) in Cape May County | $2,372,463 |
| 5 | 116 | Allenhurst (07771) in Monmouth County | $2,148,077 |
| 6 | 118 | Short Hills (07078) in Essex County | $2,102,544 |
| 7 | 119 | Mantoloking (08738) in Ocean County | $2,097,231 |
| 8 | 120 | Sea Girt (08750) in Monmouth County | $2,095,767 |
| 9 | 136 | New Vernon (07976) in Morris County | $2,005,765 |
| 10 | 214 | Avon (07717) in Monmouth County | $1,693,864 |
| 11 | 227 | Long Beach Township (08008) in Ocean County | $1,660,278 |
| 12 | 251 | Lavallette (08739) in Ocean County | $1,615,009 |
| 13 | 255 | Rumson (07760) in Monmouth County | $1,602,223 |
The most expensive zip codes nationwide are also located near the water. Atherton (California) in the San Francisco Bay Area, Miami Beach (Florida), Sagaponack on Long Island (New York) and Beverly Hills (California) are among the four most expensive zip codes. Typical real estate prices here range from $5.2 million to $7.7 million.
In April, Zillow announced that there are a record 550 “million dollar cities” in the U.S. – cities where the typical home is worth a million dollars or more. That’s 59 million dollar more cities than there will be in 2023.
According to Zillow, California has 210 million-plus cities, more than the next five states combined. New Jersey gained the most million-plus cities last year, with 14 million-plus cities.
