Cost of Living in East Hampton
East Hampton pairs genuinely among the most expensive real estate in the entire US with New York State's own graduated income tax, no separate village income tax, and a genuinely low village assessment ratio that offsets its extreme home values on the property-tax side.
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Learn moreHousing costs run genuinely among the highest in the entire United States
East Hampton village's own median home value reached $5.625 million per one 2026 source -- the highest of any South Fork market -- while a broader ZIP-level figure ran $1,768,052, and the wider Hamptons region's median sale price topped $2 million for the first time in history around the same period.
New York State's graduated income tax applies, with NO separate village income tax
New York State's 2026 income tax runs 9 brackets, 4.0%-10.9%. Per this project's own New York manifest research, East Hampton -- like nearly every New York municipality outside NYC and Yonkers -- levies no separate local income tax.
A genuinely low village assessment ratio offsets extreme home values on the tax side
East Hampton Village's own residential assessed value runs approximately 2%-4% of true market value -- a real, directly cited village-specific figure that mechanically drives the effective property tax rate on market value well below the Suffolk County-wide average of 1.7%-1.85%, even given the village's extreme home values.
The Peconic Bay CPF transfer tax is a real, distinctive East End-only closing cost
Buyers face a real, buyer-paid 2.5% combined Peconic Bay CPF transfer tax within the Town of East Hampton, with allowances of $400,000 (improved) / $100,000 (unimproved) and NO allowance at all above $2 million.
Key takeaways
- East Hampton village's median home value ($5.625M per one source) is among the highest of any South Fork market.
- New York State's graduated 4.0%-10.9% income tax applies with no added East Hampton village income tax.
- A genuinely low 2%-4% village assessment ratio offsets extreme home values on the property-tax side.
- The Peconic Bay CPF transfer tax (2.5% combined) is a real, distinctive East End-only buyer cost.
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