As of early 2026, home values have climbed in many U.S. markets. The real estate market across the US has been healthy, and certain zip codes continue to be some of the most expensive in the nation.
The Pacific Northwest, in particular, boasts some of the more expensive zip codes in the US. More specifically, it’s Washington State that tends to have more expensive home prices. In fact, Washington State has all the top 10 most expensive zip codes in the entire Pacific Northwest.
According to real estate research firm Zillow, the average home price in the US is up 0.1% over the past year and now sits at $360,727. Zillow expects annual typical home values to increase just 0.3% by the end of 2026.
The price at which a home sells is determined by the economic force of supply-and-demand but location and amenities matter, too; establishing a baseline from which supply-and-demand can work.
Washington State’s persistently high home prices are the result of several compounding structural forces. At the core is a significant housing supply deficit: the state is estimated to be short more than 200,000 units statewide, the product of a decade of underbuilding relative to population growth. A 2023 report found that Washington needs to add approximately 1.1 million homes by 2044—roughly 55,000 per year—just to meet projected demand. Washington’s population exceeded 8.1 million in 2025, and more than 80% of households were priced out of homeownership that year, according to the Washington Center for Housing Studies. The statewide housing affordability index fell to just 60.7 in Q2 2025 (where 100 represents the point at which a median-income family can qualify for a median-priced home), and the first-time buyer affordability index was an even more challenging 43.3.
Demand is further amplified by high-paying tech-sector employment. Amazon, Microsoft, and Google anchor a robust technology economy in the Seattle and Eastside area, drawing high-income workers and spurring in-migration of skilled professionals from California and other high-cost states. This sustained demand from well-compensated buyers keeps upward pressure on prices across the region.
Geographic constraints add another layer of difficulty on the supply side. The Puget Sound to the west, Lake Washington to the east, and strict urban growth boundaries collectively limit the land available for new residential construction in the most in-demand areas. These physical and regulatory barriers structurally suppress the housing supply in precisely the locations where demand is greatest.
Construction costs compound the problem further. Seattle construction costs rose approximately 40% from 2009 to 2021, driven by rising labor costs, a limited local construction workforce, and building material shortages. Labor rates in Seattle and on the Eastside run 15–25% above national averages, making new housing development more expensive to deliver and slowing the pace at which supply can respond to demand.
Using data compiled by real estate market data firm Zillow, we present the 10 most expensive ZIP codes in Washington State for 2026.
Each of the zip codes on this list has its own distinct character, amenities, and market dynamics that contribute to its high home values.
Medina (98039), topping the list at over $3.2 million, is a small, exclusive lakeside community on the eastern shore of Lake Washington, known for its privacy, waterfront estates, and proximity to major tech employers.
Bellevue (98004) represents the heart of the Eastside’s urban core, offering a dense mix of luxury condominiums, walkable retail, and easy access to downtown Seattle.
Mercer Island (98040) is a self-contained island community in Lake Washington, prized for its top-rated schools, low crime, and scenic surroundings.
The Seattle zip code 98112 encompasses the Capitol Hill and Madison Park neighborhoods, offering urban amenities alongside some of the city’s most architecturally distinctive homes.
Sammamish (98075) is a planned suburban community with highly rated schools and a family-oriented environment that draws tech workers from nearby Microsoft and Amazon campuses.
Woodinville (98077) is known for its wine country atmosphere, larger lot sizes, and a quieter suburban lifestyle within commuting distance of the Eastside tech corridor.
Kirkland (98033) offers a vibrant downtown waterfront on Lake Washington, a strong restaurant and arts scene, and proximity to major employers.
Bainbridge Island (98110) provides a ferry-connected escape from the city, with a small-town feel, natural beauty, and a community of professionals who commute to Seattle.
Redmond (98053) sits at the eastern edge of the Sammamish Plateau, offering newer construction, excellent schools, and close proximity to Microsoft’s main campus.
Finally, Edmonds (98020) rounds out the list with its charming waterfront downtown, ferry access to the Kitsap Peninsula, and a mix of established neighborhoods and newer development.
Oregon remains one of the more expensive housing markets in the Pacific Northwest, though prices are generally below Washington State. The state’s higher-end markets are concentrated around the Portland metro area, Lake Oswego, and communities with access to outdoor recreation and strong employment centers.
Some of the most expensive ZIP codes in Oregon include:
As of 2026, Oregon’s statewide average home value is approximately $494,577, making it more affordable than Washington but still above many U.S. markets.
Idaho experienced significant appreciation during the pandemic years and remains one of the more competitive housing markets in the Mountain West. Luxury demand is concentrated in resort communities and fast-growing Boise-area suburbs.
Some of Idaho’s most expensive ZIP codes include:
Idaho’s average home value in 2026 is approximately $442,820, remaining below Washington and Oregon while still reflecting long-term appreciation trends.
Colorado combines strong employment growth with lifestyle-driven demand, particularly along the Front Range and mountain resort communities.
Some of the state’s most expensive ZIP codes include:
Colorado’s average home value in 2026 sits near $530,756, positioning it between Washington and Oregon.
California continues to dominate luxury real estate markets nationally, driven by coastal demand, technology employment, and limited housing supply.
Some of California’s most expensive ZIP codes include:
California’s average home value in 2026 remains among the highest in the nation at approximately $788,920, significantly above national averages.
Washington remains one of the most expensive housing markets among the states we serve, with an average home value of approximately $611,301 in 2026. California leads the group at roughly $788,920, followed by Washington, Colorado ($530,756), Oregon ($494,577), and Idaho ($442,820).
While Washington and California continue to face supply shortages and affordability challenges, Idaho and Colorado still offer comparatively more accessible homeownership opportunities in many markets. However, local variations remain significant, especially in luxury ZIP codes and high-demand metro areas
This list may be interesting but, to home buyers or sellers in Seattle, it’s far from the final word in home values. Real estate remains a local market which means that — even within a given ZIP code — prices can vary based on street and neighborhood, and home characteristics.
Look past the general data and get to the specifics. Talk to your real estate agent for local market pricing.
If you’re in need of a mortgage, we can help. We serve clients across Washington, Idaho, Colorado, Oregon, and California. Since 1992, we’ve been offering multiple mortgage programs with flexible qualification criteria to borrowers across the Pacific Northwest, including our Diamond Homebuyer Program, Cash Buyer Program, and Bridge Loans. Visit our website to get an instant rate quote or to use our online mortgage calculator. Or, contact us if you’re ready to get pre-approved for a mortgage.
Medina, WA (98039) is the most expensive zip code in Washington State, with an average home value of $3,217,471 as of 2026.
According to Zillow, the average home price in the US sits at approximately $360,727 as of early 2026, reflecting a 0.1% increase over the prior year.
Most of the top Washington State zip codes have seen year-over-year increases in home values ranging from roughly 8% to 14%. Nationally, Zillow forecasts the typical home value to increase by just 0.3% by the end of 2026.
Medina, WA (98039) ranks as the most expensive zip code in the entire Pacific Northwest, with an average home value of $3,217,471 in 2026.
Mercer Island, WA (98040) has an average home value of $1,756,173 as of 2026, making it one of the most expensive zip codes in Washington State.
Bellevue, WA (98004) has an average home value of $1,056,617, placing it among the top most expensive zip codes in Washington State in 2026.
Washington State’s median home value of approximately $611,301 is roughly 24% higher than Oregon’s $494,577 and about $168,000 above Idaho’s $442,820. Key drivers include a significant housing supply deficit, high-paying tech-sector employment, geographic constraints such as Puget Sound and Lake Washington, and construction costs that run 15–25% above national averages.
High home prices in the Seattle and Eastside area are driven by a structural housing supply shortage estimated at over 200,000 units statewide, strong demand from high-income tech workers at companies like Amazon, Microsoft, and Google, geographic constraints that limit buildable land, and construction costs that are significantly above national averages.
Several Eastside Seattle communities have median home values exceeding $1 million, including Medina (98039) at $3,217,471, Mercer Island (98040) at $1,756,173, Bellevue (98004) at $1,056,617, Sammamish (98075) at $1,035,671, and Redmond (98053) at $955,065, among others on the top 10 list.
Washington State’s homeownership rate is 63.6% and Oregon’s is 64.3%, both slightly below the national average. Idaho has a notably higher homeownership rate of 70.4%, reflecting its relative affordability compared to the other Pacific Northwest states.
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