Cost of Living & Housing in The Hamptons & the East End
Every member place in this region carries genuinely extreme housing costs by any US standard, but the specific figures and their reliability vary in a way worth understanding before comparing towns: East Hampton village's own median reached a real $5.625 million per one 2026 source, Southampton village's ZHVI ran $3,554,238, Sag Harbor's median sold price ran $2.6-$2.8 million, and Montauk -- alone among these four -- carries a comparatively consistent figure across sources at $1.9-1.94 million.
Exploring the idea of moving?
We can connect you with a local real estate professional who knows the area -- no pressure, just a starting point.
Learn moreA Genuinely Wide Spread, Even Within This Small Region
East Hampton village's own median home value reached the highest figure of any market on the South Fork ($5.625 million per one 2026 source), even as a broader ZIP/CDP-level Zillow figure for the same area ran a meaningfully lower $1,768,052 -- a real, disclosed methodology gap worth understanding rather than picking whichever number suits a narrative. Southampton runs a similar pattern: the broader area's average home value ran $2,219,047 while the incorporated Village's own ZHVI ran distinctly higher, $3,554,238. Montauk, by contrast, carries the most internally consistent figure of the four ($1.9-1.94 million, up 12% year-over-year) -- still extreme by national standards, but the 'cheapest' entry point into this region and the only one without a wide cross-source spread.
Village Status and the Peconic Bay Transfer Tax
Sag Harbor, East Hampton, and Southampton are all incorporated villages; Montauk, notably, is not -- it's an unincorporated hamlet within the Town of East Hampton with no separate village government. That distinction matters less for day-to-day cost than one shared mechanic across the entire East End: the Peconic Bay Region Community Preservation Fund (CPF) transfer tax, a real, distinctive 2.5% combined buyer-paid rate that applies across Southampton, East Hampton, Sag Harbor, and Montauk alike, with allowances capped and eliminated entirely above $2 million -- a real, meaningful line-item cost on top of a home price already running into the millions across every place in this region.
Assessment Mechanics Can Undercut the Sticker-Price Story
East Hampton's own residential assessment ratio runs just 2%-4% of true market value, mechanically producing an effective property tax rate on market value well below the Suffolk County-wide average -- despite the village carrying the region's highest home-value figure. That's a real, counterintuitive fact worth understanding directly rather than assuming the highest-priced village also carries the highest tax bill; confirm current assessment mechanics address-by-address given how much they can diverge from the sale price alone.
Key takeaways
- Every place in this region carries extreme housing costs, but the reliability of the headline figure varies -- Montauk's figure is the most internally consistent across sources; East Hampton's and Southampton's carry wide, disclosed spreads between village-level and broader-ZIP figures.
- Montauk runs the most (relatively) affordable entry point among these four markets, though still extreme by national standards.
- The 2.5% Peconic Bay CPF transfer tax applies across the entire East End (Southampton, East Hampton, Sag Harbor, Montauk) and phases out above $2 million -- budget for it as a real closing cost, not an afterthought.
- East Hampton's low assessment ratio (2%-4% of market value) means its effective property tax rate on market value runs below the Suffolk County average despite carrying the region's highest sticker price.
Want to know what your budget actually buys here?
Tell us a bit about what you're looking for and we'll connect you with someone local who can walk you through real numbers.
Get local guidanceRead the full The Hamptons & the East End overview for the complete picture, including every city and town we've researched in the area.
Planning a move?
Tell us what you're looking for and we'll connect you with a local expert who can help you make it happen.
Talk to a local expert