The 20 Zip Codes With the Most Expensive Residential Land

It’s well known that housing prices in San Francisco, Washington, D.C. and Brooklyn, New York are among the most expensive in the U.S. But what’s the value of the land underneath houses in these and other cities? 

That’s what the U.S. Federal Housing Finance Agency set out to determine. In a working paper released in January 2019, its authors used land value data from more than 16 million appraisals across the United States to calculate the average yearly estimates of the price per acre used for single-family housing. The agency made calculations for more than 900 counties and 8,000 zip codes, which encompass 85 percent of the U.S. population. 

Here’s a look at the 20 most expensive zip codes as judged by the value of residential land. Data is from 2017.

Residential land price (per acre): $13,400,000

The details: Hermosa Beach is an oceanside community with nearly 20,000 residents in Los Angeles County. Its desirable location also makes it an expensive place to live. 

The median value of owner-occupied housing units was $1.2 million, according to U.S. Census Bureau figures from 2013-17. And median gross rent during that same time period was $2,035 per month.

Residential land price (per acre): $13,737,200

The details: Located in Santa Clara County in the San Francisco Bay area, Palo Alto has a reputation for being the “Birthplace of the Silicon Valley.” The city is home to about 67,000 residents, as well as the headquarters for major tech companies. 

The median value of owner-occupied housing units was nearly $2 million, according to U.S. Census Bureau figures from 2013-17. And median gross rent was $2,379 per month.