20 Zip Codes with the Most Expensive Residential Land Values

It’s widely known that housing in San Francisco, Washington, D.C., and Brooklyn is among the most expensive in the United States. But how valuable is the land beneath those homes? The U.S. Federal Housing Finance Agency examined this question, using data from more than 16 million appraisals to estimate average annual land values per acre for single-family housing. Their working paper, published in January 2019, produced estimates for more than 900 counties and 8,000 ZIP codes covering about 85% of the U.S. population. Below are the 20 ZIP codes with the highest residential land values, based on 2017 data.

20. Hermosa Beach, California (90254)

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

Details: Hermosa Beach is a small oceanfront community in Los Angeles County with nearly 20,000 residents. Its prime coastal location drives high land values. From 2013–2017, the U.S. Census Bureau reported the median value of owner-occupied homes at about $1.2 million and median gross rent at $2,035 per month.

19. Palo Alto, California (94306)

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

Details: Located in Santa Clara County, Palo Alto is a central Silicon Valley community of about 67,000 people and home to many major technology firms. From 2013–2017 the median owner-occupied home value was nearly $2 million, and median gross rent was $2,379 per month.

18. Washington, D.C. (20003)

Residential land price (per acre): $14,312,700

Details: ZIP code 20003 covers Capitol Hill and the Navy Yard, areas known for historic rowhouses and proximity to landmarks like the U.S. Capitol and Supreme Court. Washington, D.C. had about 702,455 residents in 2017; median owner-occupied home value was $537,400 and median gross rent $1,424.

17. Washington, D.C. (20007)

Residential land price (per acre): $14,324,500

Details: ZIP code 20007 includes Spring Valley and areas near American University in Northwest D.C. The neighborhood is known for large Colonial-style homes and an affluent residential character.

16. San Francisco (94116)

Residential land price (per acre): $14,334,100

Details: ZIP code 94116 covers the Sunset and Parkside districts and neighborhoods like Golden Gate Heights and Forest Hill. Homes in this area often offer ocean views or are within reach of the coast. San Francisco’s 2017 population was estimated at 883,305; median owner-occupied home value was $927,400 and median gross rent $1,709.

15. Washington, D.C. (20009)

Residential land price (per acre): $14,377,600

Details: Kalorama Heights in Northwest D.C. is an upscale neighborhood that has attracted prominent political and business figures. The area is known for large, stately homes and a high-profile residential community.

14. San Francisco (94122)

Residential land price (per acre): $14,653,200

Details: This ZIP code runs through the Sunset District—often called the “Avenues”—known for pastel-painted row houses and attractions like the San Francisco Zoo and Golden Gate Park. The neighborhood combines residential charm with easy access to parks and coastal scenery.

13. Venice, California (90291)

Residential land price (per acre): $14,981,900

Details: Venice is a trendsetting beachfront neighborhood in Los Angeles County, famous for its lively boardwalk, Abbot Kinney Boulevard’s shops and restaurants, and a history of celebrity residents. Its beachfront culture and entertainment options contribute to strong land values.

12. Charlestown, Massachusetts (02129)

Residential land price (per acre): $14,982,900

Details: Charlestown is Boston’s oldest neighborhood, located along Boston Harbor and the Mystic River. Historically Irish, the neighborhood now includes a mix of long-standing residents, immigrants, and young professionals. Local landmarks include the USS Constitution and Bunker Hill Monument. Boston’s 2017 population was around 694,583, with median owner-occupied home value of $455,100 and median rent $1,445.

11. Corona del Mar, California (92625)

Residential land price (per acre): $15,370,100

Details: Corona del Mar, a neighborhood in Newport Beach, Orange County, features a mix of new homes and vintage cottages and is known for beaches such as Little Corona and Big Corona. Newport Beach’s median owner-occupied home value during 2013–2017 was roughly $1.7 million, with median rent around $2,118.

10. San Francisco (94121)

Residential land price (per acre): $16,384,200

Details: ZIP code 94121 includes the Outer Richmond neighborhood, which developed from sand and farmland into a densely settled residential area. Known for foggy weather, the area has been a destination for immigrant communities and now commands strong property prices.

9. Brooklyn, New York (11225)

Residential land price (per acre): $16,411,200

Details: The Prospect Lefferts Gardens area of Brooklyn has seen rising home values and benefits from proximity to Prospect Park. New York City’s overall population is about 8.4 million, with median owner-occupied home value near $538,700 and median gross rent around $1,340 (2013–2017).

8. San Francisco (94131)

Residential land price (per acre): $17,926,900

Details: ZIP code 94131 includes Diamond Heights and Twin Peaks, neighborhoods characterized by hillside homes and panoramic views of the Bay Area. Twin Peaks is a notable vantage point that draws visitors for sweeping vistas of the city.

7. Manhattan Beach, California (90266)

Residential land price (per acre): $19,579,800

Details: Manhattan Beach is a compact coastal community in Los Angeles County with about 40 acres of public beaches and a long pier. Located roughly three miles from LAX, the area has strong demand and high home values—median owner-occupied home value was roughly $1.7 million and median gross rent $2,393 (2013–2017).

6. Palo Alto, California (94301)

Residential land price (per acre): $21,166,900

Details: ZIP code 94301 covers downtown Palo Alto, within walking distance of Stanford University (which occupies its own ZIP code). Stanford, founded in 1891, enrolls thousands of students and anchors a cluster of nearby tech hubs including Menlo Park and Mountain View.

5. San Francisco (94110)

Residential land price (per acre): $21,745,100

Details: ZIP code 94110 includes the Inner Mission, a densely populated, culturally vibrant neighborhood with a mix of Victorian homes and newer condos and lofts. The area has been a focal point for gentrification debates while remaining a lively urban community.

4. San Francisco (94118)

Residential land price (per acre): $23,172,200

Details: This ZIP code covers the Inner Richmond district, a neighborhood known for diverse dining options and a lively local scene. Its residential appeal and city amenities contribute to robust land values.

3. Newport Beach, California (92663)

Residential land price (per acre): $23,425,600

Details: Newport Beach ranks third among the most expensive residential land markets. Known for attractions like The Wedge and high-end resorts, Newport Beach’s coastal lifestyle and amenities make it highly desirable.

2. San Francisco (94114)

Residential land price (per acre): $26,395,600

Details: The Castro neighborhood (ZIP code 94114) is historically significant and culturally vibrant, with restored Victorian homes and a strong LGBTQ+ heritage that draws both residents and visitors. Its central location and character underpin elevated land values.

1. Brooklyn, New York (11215)

Residential land price (per acre): $31,086,600

Details: Topping the list is Park Slope in Brooklyn (ZIP code 11215). Known for brownstones, excellent schools, and family-friendly streets adjacent to Prospect Park, Park Slope supports high demand and rapidly rising home prices. The neighborhood’s combination of location, architecture, and amenities places it among the country’s most valuable residential land markets.