The 10 Most Expensive ZIP Codes in New Jersey

Towns in California and New York dominated the top spots on the most recent America’s Most Expensive ZIP Codes rankings from business magazine Forbes and housing market data provider Altos Research. To find the priciest enclaves, Altos analyzed listing prices for single-family homes and condos in in 29,500 ZIP codes across the U.S., which covers 95% of the population. Altos then calculated a median, rolling average for a 90-day period ending Oct. 9, 2015, and the 500 most expensive ZIP codes made it to the list.

Just across the river from some of New York’s priciest ZIP codes is Alpine, New Jersey – ZIP code 07620 – which ranked 12th in the country and first in the Garden State. Here, the median home price is more than $4.8 million. At that price, buyers can expect spacious homes with six-plus bedrooms and baths, as well as lavish master suites, gyms, media rooms, several fireplaces, multi-car garages and outdoor pools.   

In Alpine, $4.8 million is the median price, but you could easily spend much more. The priciest home on the Alpine market today is listed at $48.8 million – 10 times the median home price. The home, which is located just eight miles from New York City, is a gated six-acre estate of 30,000 square feet, featuring 12 bedrooms, 19 baths, a ballroom, a movie theater, an indoor basketball court, a 4,000-bottle wine cellar, a fitness center, multiple bars for entertaining, and an outdoor tennis court and pool.

With a median home price around $4.8 million – and homes on the market well above that – you’d expect to find some ultra-wealthy residents. Indeed, the median household income here is $170,000, and some of the town’s notable residents (who were born in Alpine, reside there now or have resided there) include billionaire Glenview Capital Management founder Larry Robbins, comedian/actor Tracy Morgan, rap artist Sean “Diddy” Combs and singer Britney Spears.

In addition to Alpine, New Jersey is well represented on the Forbes America’s Most Expensive ZIP Codes list for 2015. Here are the state’s top 10.

1. 07620 – ALPINE

Median Price: $4,867,731

Average Days on Market: 180

Median Household Income: $170K

2. 07976 – NEW VERNON

Median Price: $2,480,153

Average Days on Market: 182

Median Household Income: $200K

3. 07078 – SHORT HILLS

Median Price: $2,109,765

Average Days on Market: 162

Median Household Income: $200K

4. 08750 – SEA GIRT

Median Price: $1,934,493

Average Days on Market: 121

Median Household Income: $109K

5. 07458 – SADDLE RIVER

Median Price: $1,797,016

Average Days on Market: 154

Median Household Income: $172K

6. 08202 – AVALON

Median Price: $1,629,900

Average Days on Market: 147

Median Household Income: $73K

7. 08738 – MANTOLOKING

Median Price: $1,618,997

Average Days on Market: 195

Median Household Income: $101K

8. 07632 – ENGLEWOOD CLIFFS

Median Price: $1,580,769

Average Days on Market: 159

Median Household Income: $124K

9. 07931 – FAR HILLS

Median Price: $1,519,237

Average Days on Market: 222

Median Household Income: $180K

10. 07760 – RUMSON

Median Price: $1,498,893

Average Days on Market: 158

Median Household Income: $133K

Some of New Jersey’s most expensive ZIP codes, including Alpine, are considered suburbs of New York City, but you’ll typically get a lot more house if you stay on the New Jersey side of the Hudson River. Plus, at $1 million-plus in any of these expensive suburbs, you’re likely to find homes with privacy, well-designed landscaping and relaxing outdoor spaces that will allow you to take a break from the city.