East Hampton Among Top 10 Most Costly Zip Codes In America

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East Hampton has been ranked #5 in a list of the 10 most costly zip codes in America on the Movoto real estate blog.

According to the blog, East Hampton has a median rent of $1,868 with 50 percent of household income spent to pay for it while the median home cost is $834,300 with 27.8 percent was being spent on monthly expenses.

“This one probably isn’t too much of a surprise for anyone who knows New York well,” the article on movoto.com reads. “Pretty much everything here is beachfront property, and part of this zip code consists of a separate island, Gardiner’s Island, which is about as exclusive as you can get.”

To rank the zip codes, Movoto consulted the U.S. Census five year community survey to gather data in the following four criteria: median home cost, median monthly home owner expenses as a percent of income, median monthly rent and median monthly rent as a percent of income. With this method, they weren’t just looking at the cost of houses and apartments in the area, but they were looking at how costly and difficult to afford it was for the people, according to the Movoto website.

After removing any places that didn’t have data in those criteria, Movoto ranked the 28,135 zip codes from one to 28,135, with scores closer to one being more expensive. Then each place’s rankings were averaged into one “Big Deal Score”. The place with the lowest number for that score was the most expensive zip code, according to the Movoto website.