Where in the U.S. do locals take in an average of $2.5 million a year? Somewhere in Silicon Valley, Manhattan, or Los Angeles?
It’s actually on a man-made barrier island in Miami, Florida named after South Florida’s first African-American millionaire and once owned by the Vanderbilt family. Fisher Island’s 33109 ZIP code is the country’s richest, according to an analysis of 2015 tax data by Bloomberg. The average income is $1 million higher than number 2 — 94027 in the heart of Silicon Valley.
Some familiar names make Bloomberg’s top 20 list, including Palm Beach, Florida at number 3 and Palo Alto, California. Both ZIP codes have an average income above $1 million.
What ZIP codes don’t make the top 20? Any in New York City. The Financial District’s 10005 just missed, coming in at number 21 behind Greenwich, Connecticut’s 06831. The most expensive ZIP code in the Empire State is in Harrison, New York, just across the border from Greenwich, where the average income was $976,000.
Los Angeles’ Century City neighborhood was the highest on the list for Southern California with an average income of $905,000. Another L.A. ZIP code is quickly rising as one of the most expensive though. Santa Monica’s 90401 ZIP code saw the greatest gains in median home listing price last year, according to Realtor.com data. The median home price jumped an incredible 60.7 percent from 2016 to 2017 to just over $3 million.
Boston, Massachusetts and the Chicago suburb of Kenilworth also made the list. The most surprising might be 83014, ranked 14th. [Bloomberg] – Dennis Lynch