The more desirable an area, the higher the price tag for properties, and the wealthier the people the area attracts. Many areas of New York are way out of most people’s price range, including many locations on Long Island, which consists of Kings County, Queens County, Nassau County, and Suffolk County.
In many parts of Long Island, house prices are some of the highest in the United States, so they are only available for wealthy people. Here are the 10 richest neighborhoods in Long Island.
10. Red Hook, Brooklyn
In 2020. Red hook became the first neighborhood in Brooklyn, Kings County, to make it onto the list of the 100 most expensive places to buy property in the United States.
The high property prices also mean it ranks 10th in the richest neighborhoods in Long Island. Red Hook ranks in equal 100th place overall along with Alpine in New Jersey and the 94122 zip code in San Francisco, where the median home value is $1.45 million.
While Brooklyn is in the NYC borough, technically it sits on Long Island.
9. Mill Neck
Mill Neck is a village in Nassau County with a population of just 1,073 people. The median home value in this neighborhood is $1,463,000. Both retirees and families are attracted to the rural feel of the area.
On the other hand, affluent professionals enjoy that they are close enough to the city to commute to work while living in an area where they can get away from it all. Other positive features of Mill Neck include excellent schools, many outdoor spaces, plenty of family-oriented activities, and low crime rates.
8. Old Westbury
The median home price in Old Westbury, Nassau County, is $1,542,000. It is one of the largest rich neighborhoods in Long Island, as it is home to 4,670 people. Although it has a higher population than many other areas in this list, it retains a rural feel that many people enjoy.
However, the area is not secluded, so the residents have access to many leisure activities, highly-rated schools, diverse employment opportunities, and strong transport links.
To buy an average property in Manhasset will set home buyers back $1,575,000. If home buyers can stretch to the property prices and can cover the high cost of living, then there are many advantages to setting up a home in this suburb of New York City in Nassau County.
There is more of a suburban feel in this neighborhood than in many of the other richest neighborhoods in Long Island, and residents enjoy the proximity to the city, as it means they can live in a quiet location while accessing the city’s amenities and attractions.
Only the very wealthy can even consider purchasing a property in the prestigious neighborhood of Quogue, as the median home price in this area is $2.1 million. Located close to Hampton Beach, Quogue is a town in Suffolk County with a population of under 600 people, and it offers residents a rural feel.
It is in the catchment area of some outstanding schools, so it is a good option for families with a high enough income to afford the staggering property prices and the generally high cost of living.
Amagansett is amongst the most desirable locations in New York, so it is little wonder that property prices are high in this neighborhood. The median home price for a property in Amagansett is $2.35 million.
According to Niche, Amagansett in Suffolk County is home to only 739 people. Although it is an area that attracts affluent retirees, it is also a fantastic place to live for wealthy young professionals and families, as there are elements of this location that will appeal to every age group.
For example, the schools are outstanding, there are plenty of bars and restaurants in the area, and there are beautiful outdoor spaces to explore.
4. Water Mill
Water Mill is a hamlet and census-designated place in Suffolk County, with a population of just 1,631. The beautiful setting and small population are just two of the reasons that Water Mill is such an exclusive neighborhood.
Buying a house in this neighborhood is likely to cost around $2,475,000, which means it only attracts the richest home buyers.
Those considering moving to Wainscott, Suffolk County, should know that the median home price in this neighborhood is $2.8 million. It is an area that appeals to wealthy families, as the schools are outstanding and there is a diverse choice of family-oriented activities to enjoy.
There are approximately 650 residents in Wainscott, which reflects the exclusivity of the neighborhood. It is located on the coast of the Atlantic Ocean between Sagaponack and East Hampton.
The second richest neighborhood in Long Island is Bridgehampton in Suffolk County, where the median home price is $3,325,000. Bridgehampton is home to just over 1,300 people, and there is plenty for the residents to enjoy.
The area attracts everyone from rich retirees to wealthy families, as there is something to appeal to all ages. The schools are above average, the area has low crime rates, and there are various outdoor spaces to explore.
In the past, Bridgehampton attracted the equestrian community as it was home to a famous racetrack. However, this has since been converted into a residential area and a golf course.
According to the Property Shark list of the most expensive neighborhoods in the United States, Sagaponack is the second-most expensive place to live in the United States and the most expensive Long Island location.
The median house value in this part of Long Island is $3,875,000. It is a village in the town of Southampton, and its position along the Atlantic Ocean coastline means it is popular amongst those who want to live by the water. Generally, waterfront properties cost more than those that are inland.