Real Estate For The Rich: These Are The Most Expensive Housing Markets of 2024

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As the housing market and general cost of living continue to rise in the United States, real estate is starting to look like a venture only the rich can afford.

Many factors can impact the state of housing — the mismatch in average income and house prices, higher down payments, lack of inventory of old houses and more. This only widens the gap in expensive house markets.

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While home prices are generally increasing across the board, some areas are more affected than others. GOBankingRates has provided a list of the most expensive housing markets with their home values and the average household incomes required to afford them.

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Palm Beach, Florida

• Metro: Miami-Fort Laudendale-Pompano Beach

• County: Palm Beach

• 2024 Home Value: $11,590,488

• Average Household Income: $365,991

Check Out: Don’t Buy a House in These 3 Cities Facing a ‘Climate Change Real Estate Bubble’

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©Zillow

Jupiter Island, Florida

• Metro: Port St. Lucia

• County: Martin

• 2024 Home Value: $10,151,033

• Average Household Income: $497,536

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Aspen, Colorado

• Metro: Glenwood Springs

• County: Pitkin

• 2024 Home Value: $9,020,371

• Average Household Income: $188,344

©Zillow

Atherton, California

• Metro:  San Francisco-Oakland-Berkeley

• County: San Mateo

• 2024 Home Value: $7,669,444

• Average Household Income: $594,651

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Hunts Point, Washington

• Metro: Seattle-Tacoma-Bellevue

• County: King

• 2024 Home Value: $7,378,584

• Average Household Income: $609,224

pisaphotography / Shutterstock.com

Manalapan, Florida

• Metro: Miami-Fort Lauderdale-Pompano Beach, FL

• County: Palm Beach

• 2024 Home Value: $7,279,338

• Average Household Income: $387,855

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BobPalosaari / Getty Images/iStockphoto

Golden Beach, Florida

• Metro: Miami-Fort Lauderdale-Pompano Beach

• County: Miami-Dade

• 2024 Home Value: $7,231,144

• Average Household Income: $406,247

nycshooter / iStock.com

Bal Harbour, Florida

• Metro: Miami-Fort Lauderdale

• County: Miami-Dade

• 2024 Home Value: $6,446,573

• Average Household Income: $236,165

Elzbieta Sekowska / Shutterstock.com

Sagaponack, New York

• Metro: New York-Newark-Jersey City,

• County: Suffolk

• 2024 Home Value: $6,267,352

• Average Household Income: $316,703

NNehring / Getty Images/iStockphoto

Los Altos Hills, California

• Metro: San Jose-Sunnyvale-Santa Clara, CA

• County: Santa Clara

• 2024 Home Value: $5,963,679

• Average Household Income: $460,098

Read Next: Don’t Buy a House in These 10 US Cities: Growing Populations and Overcrowding

©Zillow

Beverly Hills, California

• Metro: Los Angeles-Long Beach-anaheim

• County: Los Angeles

• 2024 Home Value: $5,923,071

• Average Household Income: $231,793

Steve Boice / Shutterstock.com

Mountain Village, Colorado

• Metro: N/A

• County: San Miguel

• 2024 Home Value: $5,573,174

• Average Household Income: $147,858

Rob Latour/Shutterstock / Rob Latour/Shutterstock

Montecito, California

• Metro: Santa Maria-Santa Barbara

• County: Santa Barbara

• 2024 Home Value: $5,549,231

• Average Household Income: $327,332

VisionsbyAtlee / Getty Images

Lake Buena Vista, Florida

• Metro: Orlando-Kissimmee-Sanford

• County: Orange

• 2024 Home Value: $5,545,316

• Average Household Income: $154,280

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Ralph Esposito / Dolce Hayes Mansion

Hidden Hills, California

• Metro: Los Angeles-Long Beach-Anaheim

• County: Los Angeles

• 2024 Home Value: $5,366,660

• Average Household Income: $423,224

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Hillsborough, California

• Metro: San-Francisco-Oakland-Berkeley

• County: San Mateo

• 2024 Home Value: $5,318,872

• Average Household Income: $539,950

FloridaStock / Shutterstock.com

Gulf Stream, Florida

• Metro: Miami-Fort Lauderdale-Pompano Beach

• County: Palm Beach

• 2024 Home Value: $5,229,151

• Average Household Income: $475,275

Evangelio Gonzalez / Flickr.com

Sea Island, Georgia

• Metro: Brunswick

• County: Gynn

• 2024 Home Value: $5,136,362

• Average Household Income: N/A

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Property p4149416 / Courtesy of HomeAway.com

Snowmass Village, Colorado

• Metro: Glenwood Springs

• County: Pitkin

• 2024 Home Value: $4,915,899

• Average Household Income: $169,404

Property p798608vb / Courtesy of HomeAway.com

Wilson, Wyoming

• Metro: Jackson

• County: Teton

• 2024 Home Value: $4,781,155

• Average Household Income: $204,199

NNehring / Getty Images/iStockphoto

Los Altos, California

• Metro: San Jose-Sunnyvale-Santa Clara

• County: Santa Clara

• 2024 Home Value: $4,561,489

• Average Household Income: $400,817

FourthNovemberStudio / Shutterstock.com

Belvedere, California

• Metro: San Francisco-Oakland-Berkeley

• County: Marin

• 2024 Home Value: $4,529,067

• Average Household Income: $437,620

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©Zillow

Medina, Washington

• Metro: Seattle-Tacoma-Bellevue

• County: King

• 2024 Home Value: $4,463,757

• Average Household Income: $439,677

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Monte Sereno, California

• Metro: San Jose-Sunnyvale-Santa Clara

• County: Santa Clara

• 2024 Home Value: $4,379,333

• Average Household Income: $422,996

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Telluride, Colorado

• Metro: N/A

• County: San Miguel

• 2024 Home Value: $4,379,223

• Average Household Income: $115,161

©Sotheby's International Realty

Rancho Santa Fe, California

• Metro: San Diego-Chuka Vista-Carisbad

• County: San Diego

• 2024 Home Value: $4,202,523

• Average Household Income: $290,370

Discover More: Housing Market 2024: 50 Most Affordable Cities for Homebuyers

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Yarrow Point, Washington

• Metro: Seattle-Tacoma-Bellevue

• County: King

• 2024 Home Value: $4,286.562

• Average Household Income: $421,181

Wiltser / Getty Images/iStockphoto

Boca Grande, Florida

• Metro: Cape Coral-Fort Myers

• County: Lee

• 2024 Home Value: $4,284,322

• Average Household Income: N/A

Art Wager / Getty Images

Del Mar, California

• Metro: San Diego-Chula Vista-Carlsbad

• County: San Diego

• 2024 Home Value: $4,202,523

• Average Household Income: $290,370

BackyardProduction / Getty Images

Hanalei, Hawaii

• Metro: Kapaa

• County: Kauri

• 2024 Home Value: $4,110,782

• Average Household Income: $120,725

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Saratoga, California

• Metro: San-Jose-Sunnyvale-Santa Clara

• County: Santa Clara

• 2024 Home Value: $4,075,652

• Average Household Income: $329,142

LPETTET / Getty Images/iStockphoto

Malibu, California

• Metro: Los Angeles-Long Beach-Anaheim

• County: Los Angeles

• 2024 Home Value: $4,058,374

• Average Household Income: $288,162

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Water Mill, New York

• Metro: New York-Newark-Jersey City

• County: Suffolk

• 2024 Home Value: $4,034,573

• Average Household Income: $295,228

Sullivan’s Island, South Carolina

• Metro: Charleston-North Charleston

• County: Charleston County

• 2024 Home Value: $4,034,466

• Average Household Income: $291,546

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Elizabeth Winterbourne / Shutterstock.com

Portola Valley, California

• Metro: San Francisco-Oakland-Berkeley

• County: San Mateo

• 2024 Home Value: $4,030,239

• Average Household Income: $462,935

findwell / Flickr.com

Clyde Hill, Washington

• Metro: Seattle-Tacoma-Bellevue

• County: King

• 2024 Home Value: $4,022,060

• Average Household Income: $483,738

Alex Potemkin / Getty Images/iStockphoto

Bridgehampton, New York

• Metro: New York-Newark-Jersey City

• County: Suffolk

• 2024 Home Value: $3,937,093

• Average Household Income: $259,019

©Trulia

Ross, California

• Metro: San Francisco-Oakland-Berkeley

• County: Marin

• 2024 Home Value: $3,902,893

• Average Household Income: $430,034

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cristianl / Getty Images/iStockphoto

Key Biscayne, Florida

• Metro: Miami-Fort Lauderdale-Pompano Beach

• County: Miami-Dade

• 2024 Home Value: $3,901,773

• Average Household Income: $264,913

Ron and Patty Thomas / Getty Images/iStockphoto

Newport Beach, California

• Metro: Los Angeles-Long Beach-Anaheim

• County: Orange

• 2024 Home Value: $3,867,801

• Average Household Income: $240,906

DenisTangneyJr / Getty Images/iStockphoto

Palo Alto, California

• Metro: San Jose-Sunnyvale-Santa Clara

• County: Santa Clara

• 2024 Home Value: $3,777,275

• Average Household Income: $301,226

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Deal, New Jersey

• Metro: New York-Newark-Jersey City

• County: Monmouth

• 2024 Home Value: $3,769,124

• Average Household Income: $159,280

Explore More: Don’t Buy a House in These 5 US Cities That Have Shrinking Populations and Fewer Buyers

Joshua Rainey Photography / Shutterstock.com

Woodside, California

• Metro: San Francisco-Oakland-Berkeley

• County: San Mateo

• 2024 Home Value: $3,758,363

• Average Household Income: $445,543

travelview / Shutterstock.com

Jupiter Inlet Colony, Florida

• Metro: Miami-Fort Lauderdale-Pompano Beach

• County: Palm Beach

• 2024 Home Value: $3,726,535

• Average Household Income: $265,348

©Zillow

Stinson Beach, California

• Metro: San Francisco-Oakland-Berkeley

• County: Marin

• 2024 Home Value: $3,643,662

• Average Household Income: $101,575

Justin P Bradley / Shutterstock.com

Rolling Hills, California

• Metro: Los Angeles-Long Beach-Anaheim

• County: Los Angeles

• 2024 Home Value: $3,480,026

• Average Household Income: $481,340

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©Zillow

Paradise Valley, Arizona

• Metro: Phoenix-Mesa-Chandler

• County: Maricopa

• 2024 Home Value: $3,456,447

• Average Household Income: $385,643

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Wainscott, New York

• Metro: New York-Newark-Jersey City

• County: Suffolk

• 2024 Home Value: $3,421,349

• Average Household Income: $307,122

JasonDoiy / Getty Images

Stanford, California

• Metro: San Jose-Sunnyvale-Santa Clara

• County: Santa Clara

• 2024 Home Value: $3,411,288

• Average Household Income: $155,195

cdrin / Shutterstock.com

Tiburon, California

• Metro: San Francisco-Oakland-Berkeley

• County: Marin

• 2024 Home Value: $3,380,832

• Average Household Income: $312,322

Methodology: For this piece, GOBankingRates found the 50 cities with the richest real estate in terms of 2024 home values as sourced from Zillow’s April 2024 data. For the 50 selected cities, GOBankingRates also found the average household income for each city as sourced from the 2022 American Community Survey conducted by the U.S Census Bureau. All Data was collected and is up to date as of June 2024.

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This article originally appeared on GOBankingRates.com: Real Estate For The Rich: These Are The Most Expensive Housing Markets of 2024