Why This Washington City Costs More To Live In Than Most Any Other Place in the US
Written by
Josephine Nesbit
Edited by
Chris Cluff
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California and New York are by far the most expensive states to buy a house. But the small Seattle suburb of Medina, Washington — home of Bill Gates and Jeff Bezos — is another popular choice for the wealthiest Americans.
A new study by online real estate marketplace RealtyHop found that out of the 100 most expensive ZIP codes to own a home in the country, 61 are in California and 18 are in New York. And out of the 10 most expensive ZIP codes, the median listing price of a home is $4 million or more.
For the fourth consecutive year, Atherton, California, topped the list as the most expensive ZIP code in the U.S. to own a home, according to the study, with a median list price of $7.95 million.
Washington is home to several major tech companies, including Amazon and Microsoft, and the state’s strong job market, high quality of life and beautiful outdoor scenery are major draws for buyers. Medina is an extremely small suburb with a population of around 3,000 people, but it came in at No. 7 on the list, with a median home price of $4.75 million in 2023.
Medina sits directly across Lake Washington from Seattle and next to the city of Bellevue. Residents can take advantage of high-quality local amenities in Bellevue while avoiding the higher crime rate of Seattle.
Medina’s school district is also top quality, making it a prime location for families looking to raise their children in a safe, nurturing environment. Streets are lined with trees and planned landscaping, and there are also parks, beaches and views that look out over Lake Washington.
But Medina also has a very high cost of living. According to Neighbors Relocation Services Seattle, Medina is the most expensive community in the entire Seattle metropolitan area, with a high concentration of millionaires. The median household income is $208,500 per year, per U.S. Census Bureau data, and 85.7% of residents hold a bachelor’s degree or higher.
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