Ultra Luxury Zip Codes Now Start at $5.5M as Demand Moderates

In America's most rarefied ZIP codes, a $1 million budget is little more than an opening bid.

Realtor.com's latest ranking of the nation's most expensive zip codes shows the median listing price in the ultra-luxury tier now begins at $5.5 million, with top markets stretching well into the eight figures. That entry point is down from $5.9 million in July 2025, a modest reset at the very top of the market.

Nationally, the threshold for the top 10% of homes considered luxury held steady at roughly $1.2 million to start the year. About 12% of active listings nationwide are priced above $1 million.

While asking prices remain lofty, online demand has softened. Every zip code in the top 10 recorded a year-over-year decline in per-property page views in January 2026, with drops ranging from 2.8% in Rancho Santa Fe to more than 30% in Bel Air, Water Mill and Montecito.

California's Newport Coast (92657) claimed the top spot, overtaking Miami Beach's Fisher Island. Newport Coast's median listing price jumped 29.3% year over year to $12.5 million, with homes averaging 5,552 square feet and just 46 listings on the market in January. Page views per property were down nearly 17%.

Fisher Island (33109) ranked second, with a median listing price of $11.98 million, down 3.8% year-over-year. Its properties average 3,790 square feet, and page views per listing fell 7.6% from a year earlier.

Beverly Hills (90210) placed third at $10.5 million, followed by Bridgehampton, New York (11932), at $8.8 million, and Bel Air, Los Angeles, at $7.9 million. Water Mill, New York (11976), came in sixth at $6.99 million and boasts the largest median footprint among the group at 5,821 square feet. Montecito (93108) ranked seventh at $6.5 million, Rancho Santa Fe (92067) eighth at $6 million, Newport Beach (92663) ninth at $5.99 million, and Paradise Valley, Arizona (85253), rounded out the top 10 at $5.5 million.

California continues to dominate, claiming six of the top 10 positions. However, Malibu (90265) slipped to 11th place after a sharp decline in buyer interest and a recalibration of the median price to roughly $5.44 million, reflecting wildfire-related shifts in inventory toward land and rebuild opportunities. Orange County's Corona del Mar (92625) and Laguna Beach (92651) followed in the 12th and 13th spots. Nantucket, Massachusetts (02554), ranked 14th with a median listing price of $4.85 million, and New York's Tribeca neighborhood (10013) closed out the top 15 at $4.79 million, representing a distinctly urban entry in an otherwise estate-driven list.