Top 10 Most Expensive ZIP Codes in Tampa Bay

As of March, the typical home value in Belleair Beach reached an impressive $1,020,845, positioning it at the forefront of all ZIP codes in Tampa Bay.

This insight comes from research conducted for The Business Journals Wealthy 1000, a recent ranking that highlights the nation’s wealthiest ZIP codes. The ranking is based on a weighted formula that considers multiple wealth metrics, including home value data from Zillow. Notably, thirteen Tampa Bay ZIP codes are featured among the nation’s 1,000 wealthiest places, with 33767 in Pinellas County ranking within the top 200. This ZIP code boasts an income per capita of $89,370 and a poverty rate of 5.50%, placing it at No. 264 on the list.

However, when focusing exclusively on home values, the rankings present a different picture both locally and nationally.

Ranked by median home value, here are the remaining top 10 Tampa Bay metro ZIPs:

• 33629 in Tampa: $999,131
• 33606 in Tampa: $888,812
• 33785 in Indian Rocks Beach: $826,487
• 33767 in Clearwater Beach: $820,926
• 33704 in St. Petersburg: $759,999
• 33701 in St. Petersburg: $723,559
• 33706 in St. Petersburg: $701,263
• 33556 in Odessa: $664,831
• 33548 in Lutz: $645,457

California Dominates the National Landscape

On the national level, California leads the charge, accounting for more than half of the nation’s top 1,000 ZIP codes by home values. Following California are New York (96), Massachusetts (74), and New Jersey (55).

Among major metro areas, Los Angeles (203) takes the top spot, closely followed by other California metros like San Francisco (115) and San Jose (55). New York (145) and Boston (58) also rank high among metros with the most ZIP codes in the top 1,000 nationally.

In California, these elevated prices have created numerous challenges, even driving many residents to relocate to more affordable regions during the pandemic. Certain areas in California and beyond have seen such significant home-price appreciation that they are now deemed overvalued relative to local purchasing power.

These metros had the most ZIP codes on our list of the nation’s highest median home value

The Pinnacle of Expensive ZIP Codes

Atherton, California — near San Francisco — holds the title for the highest home value in the U.S., with a staggering $7,711,460.

The average home value for the top 1,000 ZIP codes is $1.4 million.

For comparison, Zillow reports that the average American home value is $360,681 as of May 31, marking a 4.3% increase from 2023.

However, the median value of new houses sold was $417,400, a 0.9% decline from the previous year, as various factors, including elevated interest rates, continue to impact the housing market.

These figures may shift as the real estate market adapts to new migration patterns, particularly in areas like Florida and Arizona.

“I believe we are at an inflection point in the upper echelon of the luxury space where we may indeed see a new stratospheric price threshold pushed higher,” remarked Andrew Turley, president of Phoenix Valuations, in a recent interview with the Phoenix Business Journal.

Phoenix has emerged as the No. 2 destination for high-net-worth migration, just behind South Florida. Turley anticipates it’s only a matter of time before the city’s luxury market surpasses the $30 million-$40 million threshold.

“Many luxury agents and builders are convinced that with the right spec home, Arizona will soon witness price points above $30 million,” he added.

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