East Hampton, NY is a popular tourist destination known for its stunning beaches and picturesque views of the Atlantic Ocean. The 2 bedroom rent in East Hampton is more expensive than the US average, with rents at $2,820 compared to the national average of $1,430. Although rent prices are higher in East Hampton, the cost of goods is also significantly higher-the Grocery Cost Index is 120 versus 100 in the US. The increased cost of living means that local companies have to adjust their pricing accordingly-for example, Big John's Restaurant serves up delicious seafood dishes at slightly inflated prices. Despite this increased cost of living, East Hampton remains a desirable location for tourists and many high-profile celebrities who can afford these prices.
East Hampton has an unemployment rate of 6.1%. The US average is 6.0%.
East Hampton has seen the job market increase by 0.9% over the last year. Future job growth over the next ten years is predicted to be 26.8%, which is lower than the US average of 33.5%.
Tax Rates for East Hampton
- The Sales Tax Rate for East Hampton is 8.6%. The US average is 7.3%.
- The Income Tax Rate for East Hampton is 6.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for East Hampton
- The average income of a East Hampton resident is $52,371 a year. The US average is $28,555 a year.
- The Median household income of a East Hampton resident is $125,861 a year. The US average is $69,021 a year.