Most Expensive Zip Code Moves East

Wondering where the country’s most wealthy dwell? For the past two years the zip code of distinction has been 94027, whose numbers represent Atherton, California in what is known as Silicon Valley.

Atherton attracts some of the world’s most influential hi-tech execs such as Paul Allen, the cofounder of Microsoft, HP CEO Meg Whitman, and Eric Schmidt, Chairman of Google. The median income in Atherton, according to data from the US Census Bureau, is just short of a quarter million dollars: $220,583.

That’s yesterday’s news. The new reigning zip code for the country’s most wealthy is 11962, a Long Island community called Sagaponack. In Sagaponach the median sale price for a home from January 2014 until June 2015 was $5,125,000, according to the real estate listing site Property Shark. In Atherton the median price was only $5,050,000.

Sagaponack is only two hours’ drive from New York City, in the Hamptons on the south shore of Long Island. Pop musician Billy Joel lives in Sagaponack, while the Clintons like to vacation in the town. Ira Rennert built a $248 million estate there composed of three swimming pools, a 164-seat private theater, and a car garage with a 100-car capacity.

Jonathon Bowes

About Jonathon Bowes

Jonathan Bowes started his career in banking. After a few years, he took courses in business and finance and worked his way up the corporate ladder. Today, while writing part-time for Business District, Bowes assists talented people to find jobs in the field of economics. Contact Bowes at Jonathon[at]businessdistrict.com