Large, expensive houses adorn the shoreline of Lake Tahoe, an area that contains a majority of the … [+]
We’ve been going around state by state and analyzing what the most expensive ZIP codes are in each one. Analyzing financial characteristics, like how expensive homes are — as well as the home value appreciation rate — by ZIP code can lift the veil on previously concealed developments.
ZIP codes are useful in this regard because of their unique geographical scope. Often, a ZIP code will encompass an entire town or city. Other times, just as commonly, ZIP codes are much smaller, just a portion of a city, or sometimes, a tiny tract of houses. In this way, you can identify areas of wealth hidden in means, medians, and generalities.
For this article, we wanted to breakdown the most expensive ZIP codes in Nevada. This is a study in contrasts: The vast swathes of desert and Rocky Mountains clashing with the resort and urban oases of Las Vegas and Lake Tahoe. Read on to find out the most expensive ZIP codes in Nevada in 2024, based on the latest data from Zillow’s home value index.
The Most Expensive ZIP Codes in Nevada
Relying on data from Zillow’s home value index, as well as the Census Bureau’s 2023 American Community Survey, we analyzed thousands of ZIP codes across the U.S. as part of a general survey. From there, we focused our attention on Nevada. The Zillow home value index tracks (as of September 2024) the home values of 133 ZIP codes in Nevada. As part of our analysis, we took into consideration the latest monthly home values Zillow has — September 2024 — as well as the average of 12 months of median home values from October 2023 to September 2024.
Some very clear patterns emerge from this analysis. The majority of the most expensive ZIP codes in Nevada are contained within just a couple of metropolitan areas. Below are the 25 most expensive ZIP codes in Nevada.
The Top 5 Most Expensive ZIP Codes in Nevada
ZIP code 89413 is the most expensive one in Nevada. This ZIP code covers the lakeside towns of Lakeridge, Lincoln Park, and Glenbrook, all along Lake Tahoe. Household incomes are high in these parts, and revealing. The median household income is $127,589, which is certainly high, but nearly as high as the mean (average) household income: $296,242. This reflects noticeable income inequality, with two-fifths (41.6%) of households earning $200,000 or more a year.
The appreciation in home values in ZIP code 89413 has been significant, especially considering how pricey this area already was. Back in September 2019, the median home value was $1.974 million and change, which made it the No. 1 most expensive ZIP code at that time. Over the next five years, the median home value soared by about 60%, topping $3.151 million in September 2024. Even the month-over-month gain was impressive, at 4.6%.
The No. 2 most expensive ZIP code is also along Lake Tahoe, 89402. This one covers a northern section of Lake Tahoe, appropriately on the western side of Crystal Bay. This ZIP code runs up against the California-Nevada border. Houses here are definitely expensive and beautiful. Like in the No. 1 most expensive ZIP code 89413, home values in 89402 also increased significantly over the last five years. From a median home value of over $1.869 million in September 2019, it grew by 51.8%, to reach more than $2.838 million in September 2024. Incomes in ZIP code 89402 make the figures in the No. 1 most expensive ZIP code look like child’s play. The median household income in ZIP code 89402 is over $250,000. But the mean household income is $630,602 — one of the highest recorded in the whole U.S.
Reno cityscape the early winter. The greater Reno metro area is home to many of Nevada’s most … [+]
The No. 3 most expensive ZIP code in Nevada — 89451 — is also along Lake Tahoe, right next to the No. 2 ZIP code. Incline Village is the main population center covered by 89451. This ZIP code is home to the well-regarded Incline Village Mountain Golf Course. Households here earn a lot, with 38.3% of them making $200,000 or more per year. The median household income in ZIP code 89451 is $154,773, while the average household income is $236,463. Home value appreciation in 89451 is more impressive than the first two most expensive ZIP codes. Over five years, the median home value rose by 69.2%, from $834,376 in September 2019, to $1.412 million in September 2024.
The Bottom Line on the Most Expensive ZIP Codes in Nevada
The Lake Tahoe-Reno area include the top six most expensive ZIP codes in Nevada. This is not really that surprising. The Las Vegas metro area’s first entry on our list is ZIP code 89161. This is a sprawling ZIP code, occupying the land west of Las Vegas, includes Red Rock Canyon. It also includes Bonnie Springs and Mountain Springs. What makes this ZIP code interesting is that it’s largely unoccupied desert and mountains. But this ZIP code includes an awkward exclave that does contain residences — and they’re quite large and expensive. The median home value in 89161 is well over $1.04 million. What is astounding is that’s up by 69.2% from five years ago, when it was $617,920 in September 2019.