What's Happening?
Two towns in Long Island, Bridgehampton and Water Mill, have been ranked among the most expensive zip codes in the United States according to Realtor.com. Bridgehampton is listed as the third most expensive zip code with a median price listing of just under $9.1 million. Water Mill ranks eighth with an average listing price of more than $6.8 million. The most expensive zip code is Fisher Island in Miami Beach, Florida, with a median price of $11.9 million, followed by Newport Coast in Newport Beach, California, with nearly $9.1 million.
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Why It's Important?
The ranking of these Long Island towns highlights the significant real estate market value in the area, reflecting broader trends in luxury housing demand. High property values can impact local economies, influencing tax revenues and public services. It also underscores the challenges of affordability in these regions, potentially affecting demographics and community composition. The ranking may attract more affluent buyers, further driving up prices and impacting local housing policies.
