Top 20 Zip Codes With the Most Expensive Residential Land

It’s well known that housing in San Francisco, Washington, D.C., and Brooklyn is among the priciest in the United States. But how valuable is the land beneath those homes? The U.S. Federal Housing Finance Agency (FHFA) explored this question by analyzing land-value estimates derived from more than 16 million appraisals nationwide. In a working paper released in January 2019, the agency averaged price-per-acre estimates for single-family residential land across over 900 counties and 8,000 ZIP codes, covering roughly 85% of the U.S. population. The data below—from 2017—lists the 20 ZIP codes with the highest residential land values.

20. Hermosa Beach, California (90254)

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

Details: Hermosa Beach is a compact oceanfront community in Los Angeles County with roughly 20,000 residents. Its coastal location drives high demand. Between 2013 and 2017 the median value of owner-occupied homes was around $1.2 million, and median gross rent was approximately $2,035 per month.

19. Palo Alto, California (94306)

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

Details: Situated in Santa Clara County, Palo Alto is often considered the birthplace of Silicon Valley. The city hosts major tech firms and about 67,000 residents. From 2013–2017 the median owner-occupied home value was close to $2 million, with median gross rent near $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 in Southeast D.C., areas known for historic rowhouses and iconic landmarks like the U.S. Capitol and Supreme Court. The District’s population was about 702,455 in 2017, with a median owner-occupied home value of roughly $537,400 and median rent near $1,424.

17. Washington, D.C. (20007)

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

Details: The 20007 ZIP covers affluent northwest neighborhoods including Spring Valley and parts of Georgetown. The area is known for large Colonial-style homes and proximity to American University, which adds to local demand.

16. San Francisco (94116)

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

Details: ZIP 94116 includes the Sunset and Parkside districts as well as Forest Hill and Golden Gate Heights. Homes here are often modestly sized (1,000–1,500 sq ft) and the area attracts buyers priced out of more central neighborhoods. San Francisco’s median owner-occupied home value in 2017 was about $927,400, and median rent was roughly $1,709.

15. Washington, D.C. (20009)

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

Details: The 20009 ZIP covers Kalorama Heights and surrounding neighborhoods in Northwest D.C., an exclusive area home to high-profile residents and historic mansions.

14. San Francisco (94122)

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

Details: This ZIP runs through the Sunset District—often called the “Avenues”—and includes attractions like Golden Gate Park and the San Francisco Zoo. The neighborhood features rows of pastel-painted houses and remains a sought-after residential area.

13. Venice, California (90291)

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

Details: Venice is a vibrant beachside neighborhood in Los Angeles County known for its boardwalk, street performers, and the trendy shops and restaurants along Abbot Kinney Boulevard. Its beachfront culture and popularity among celebrities contribute to high land values.

12. Charlestown, Massachusetts (02129)

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

Details: Charlestown, Boston’s oldest neighborhood, sits along the Boston Harbor and Mystic River. Once historically Irish, the area has diversified and now attracts a mix of immigrants and young professionals. Notable landmarks include the USS Constitution and the Bunker Hill Monument. Boston’s median owner-occupied home value in 2017 was roughly $455,100, with median rent near $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 newer homes and vintage cottages and offers scenic beaches and lookouts. Newport Beach’s median owner-occupied home value was about $1.7 million and median rent roughly $2,118 during the 2013–2017 period.

10. San Francisco (94121)

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

Details: ZIP 94121 covers the Outer Richmond, a neighborhood that transformed from open land to a dense residential area over the 20th century. Known for foggy weather and a competitive housing market, the average home sale price has hovered around $1.79 million in recent years.

9. Brooklyn, New York (11225)

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

Details: The Prospect Lefferts Gardens neighborhood in Brooklyn has experienced rising home values and benefits from close proximity to Prospect Park. New York City’s median owner-occupied home value during 2013–2017 was about $538,700, with median rent near $1,340.

8. San Francisco (94131)

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

Details: ZIP 94131 includes neighborhoods such as Diamond Heights and Twin Peaks. Diamond Heights features midcentury homes nestled among hills, while Twin Peaks offers sweeping views of the Bay Area from high elevations, boosting local desirability.

7. Manhattan Beach, California (90266)

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

Details: Manhattan Beach is a small coastal city in Los Angeles County with about 35,500 residents, prized for its beaches, 40 acres of recreational shoreline, and a prominent pier. Median owner-occupied home values were around $1.7 million, and median rent was roughly $2,393.

6. Palo Alto, California (94301)

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

Details: Downtown Palo Alto lies within walking distance of Stanford University, a major factor in the region’s demand for housing. The city sits among other tech hubs—Menlo Park and Mountain View—and its proximity to world-class research and industry supports high land values.

5. San Francisco (94110)

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

Details: ZIP 94110 includes the Inner Mission, a dense and diverse neighborhood with Victorian homes alongside newer condos and lofts. The area has been central to debates over gentrification as demand and prices have surged.

4. San Francisco (94118)

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

Details: ZIP 94118 covers the Inner Richmond district, noted for its restaurants and diverse community. Though not a typical tourist hotspot, the neighborhood’s amenities and character contribute to its high land value.

3. Newport Beach, California (92663)

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

Details: Newport Beach ranks third on this list. The Orange County coastal city is known for attractions like “The Wedge” wave break and the Resort at Pelican Hill, and it offers mild year-round weather that keeps demand for coastal property strong.

2. San Francisco (94114)

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

Details: The Castro neighborhood (ZIP 94114) is one of San Francisco’s most recognized areas, famed for Castro Street, restored Victorian homes, and a prominent LGBTQ+ cultural history that draws visitors and residents alike. That combination of history and desirability contributes to its high land value.

1. Brooklyn, New York (11215)

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

Details: Topping the list is Park Slope in Brooklyn (ZIP 11215). Known for its brownstones, excellent schools, family-friendly feel, and proximity to Prospect Park, Park Slope attracts buyers who often move quickly in competitive markets. The neighborhood’s strong amenities and desirability are reflected in its position as the most expensive residential land area by price per acre in this dataset.

These figures represent FHFA’s 2017 estimates of single-family residential land value per acre. They reflect local demand, amenities, history, and geographic advantages that make certain neighborhoods particularly valuable. While land value is only one component of total housing cost, it provides a revealing perspective on how location drives real estate markets across the country.