Nantucket Island, with its picturesque marina, boasts the highest real estate values in Massachusetts, distinguished by a median home value exceeding $2.772 million. This luxurious environment reflects the affluence characterizing Massachusetts, known for its competitive household income figures; the median household income stands at $99,858, with a mean household income of $138,516, as reported by the Census Bureau. This state features a blend of wealth across its suburbs and resort areas, making it a prime location for both year-round residents and vacationers.
An analysis of the most expensive ZIP codes in Massachusetts reveals a concentration of high-value areas in popular vacation destinations and metropolitan regions. Utilizing data from Zillow’s Home Value Index and the Census Bureau’s American Community Survey, the article surveys thousands of ZIP codes, confirming the overall trend of climbing home values in Massachusetts post-pandemic. The analysis covers 484 ZIP codes and indicates that home values have soared significantly, with one area recording an astonishing 84.8% increase in just five years.
Among the priciest areas, the ZIP code 02554, encompassing Nantucket Island, emerges as the pinnacle, with a 12-month average home value just exceeding $2.7 million. This represents a staggering 57.5% increase from five years ago when values hovered around $1.76 million. The allure of Nantucket and neighboring Martha’s Vineyard plays a crucial role in driving these values, with affluent buyers drawn to the exclusive lifestyle and scenic environment these destinations offer.
Adjacent to Nantucket, the ZIP code 02535, covering the southwestern region of Martha’s Vineyard, ranks second. It entertains a median household income of approximately $135,750, with a notable 29% of households earning $200,000 or more annually. The home values here also reflect a significant upward trend, climbing from nearly $1.478 million five years ago to $2.346 million, marking a 58.8% appreciation despite a slight dip of 2% from the previous year. This indicates a robust yet fluctuating real estate market in this desirable zip code.
In the Boston suburbs, ZIP code 02493, located in Weston, takes the third spot with exceptional household earnings, boasting a median household income of over $250,000. Notably, the home values in this area have seen a remarkable increase of 59.1% from around $1.374 million in September 2019 to $2.186 million in 2024. Meanwhile, Wellesley’s ZIP code 02481, coming in fourth, reports similar income levels with a median household income exceeding $250,000 and a robust rise in home values to $2.077 million, marking a 53.1% increase since 2019.
Rounding out the list is zip code 02468 in Waban, part of Newton, another affluent suburb of Boston, where a vast majority of households earn above $200,000. The median household income stands over $250,000, and home values have now surpassed the $2 million mark, though the growth rate of 45.3% over the past five years is slightly less dramatic compared to other regions. This reinforces the upscale nature of Boston’s suburbs and their attractiveness to wealthy buyers seeking a combination of luxury and convenience. Collectively, these insights illustrate the dynamic real estate landscape in Massachusetts, mirroring broader economic trends and demographic shifts in high-value markets.
