Cities with the most expensive homes in New York City metro area

Written by:
April 19, 2023
Arina P Habich // Shutterstock

Cities with the most expensive homes in New York City metro area

Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value. Given the current state of the real estate market, housing affordability plays a determining role for buyers. As of April 4, 2023, the 30-year fixed mortgage rate sits at 6.3%. As a result of higher mortgage rates across the board, home prices have risen significantly. The typical home value in the United States increased over the last year by 4.4% to $328,604.

Although home prices have inflated all across the U.S., there are definitely certain areas that have a higher price tag than others. Location, size, age, and condition are all contributing factors to home value. Whether you choose to hold off your home-buying plans in hopes of the market cooling down or are looking to buy ASAP, it's good to educate yourself on the market in different cities.

Stacker compiled a list of cities with the most expensive homes in New York City using data from Zillow. Cities are ranked by the Zillow Home Values Index for all homes as of February 2023. The ZVHI represents a seasonally adjusted price for the middle market for all homes. Data was available for 562 cities and towns in New York City. Charts for each city show the monthly typical home value since January 2018.

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#30. Lawrence, NY

- Typical home value: $1,574,581
- 1-year price change: +12.0%
- 5-year price change: +50.8%

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#29. Harvey Cedars, NJ

- Typical home value: $1,661,831
- 1-year price change: +0.7%
- 5-year price change: +63.2%

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#28. Allenhurst, NJ

- Typical home value: $1,662,680
- 1-year price change: +16.1%
- 5-year price change: +91.9%

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#27. Rumson, NJ

- Typical home value: $1,668,460
- 1-year price change: +5.8%
- 5-year price change: +50.2%

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#26. Purchase, NY

- Typical home value: $1,680,938
- 1-year price change: +11.3%
- 5-year price change: +44.6%

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#25. Short Hills, NJ

- Typical home value: $1,681,563
- 1-year price change: +7.2%
- 5-year price change: +19.7%

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#24. Montauk, NY

- Typical home value: $1,689,496
- 1-year price change: +14.8%
- 5-year price change: +95.3%

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#23. Manhasset, NY

- Typical home value: $1,701,092
- 1-year price change: +4.4%
- 5-year price change: +18.7%

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#22. Mantoloking, NJ

- Typical home value: $1,703,195
- 1-year price change: +5.3%
- 5-year price change: +76.5%

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#21. Sea Girt, NJ

- Typical home value: $1,732,275
- 1-year price change: +11.5%
- 5-year price change: +62.0%

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#20. Sag Harbor, NY

- Typical home value: $1,798,833
- 1-year price change: +9.2%
- 5-year price change: +66.7%

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#19. Saddle River, NJ

- Typical home value: $1,803,716
- 1-year price change: +5.2%
- 5-year price change: +25.3%

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#18. Bay Head, NJ

- Typical home value: $1,804,051
- 1-year price change: +1.4%
- 5-year price change: +49.3%

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#17. Oyster Bay Cove, NY

- Typical home value: $1,811,848
- 1-year price change: +7.1%
- 5-year price change: +36.7%

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#16. Muttontown, NY

- Typical home value: $1,825,827
- 1-year price change: +4.4%
- 5-year price change: +22.5%

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#15. Laurel Hollow, NY

- Typical home value: $1,826,690
- 1-year price change: +6.2%
- 5-year price change: +35.1%

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#14. Lloyd Harbor, NY

- Typical home value: $1,826,959
- 1-year price change: +12.3%
- 5-year price change: +65.4%

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#13. Mill Neck, NY

- Typical home value: $1,844,554
- 1-year price change: +8.2%
- 5-year price change: +43.1%

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#12. Upper Brookville, NY

- Typical home value: $2,049,667
- 1-year price change: +5.1%
- 5-year price change: +30.3%

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#11. Old Westbury, NY

- Typical home value: $2,273,415
- 1-year price change: +6.7%
- 5-year price change: +28.9%

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#10. Loch Arbour, NJ

- Typical home value: $2,289,283
- 1-year price change: +9.9%
- 5-year price change: data not available

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#9. Quogue, NY

- Typical home value: $2,437,508
- 1-year price change: +8.1%
- 5-year price change: +59.0%

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#8. Alpine, NJ

- Typical home value: $2,532,063
- 1-year price change: +1.8%
- 5-year price change: +9.9%

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#7. Sands Point, NY

- Typical home value: $2,604,239
- 1-year price change: +4.4%
- 5-year price change: +26.9%

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#6. Wainscott, NY

- Typical home value: $2,676,763
- 1-year price change: +12.7%
- 5-year price change: +73.6%

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#5. Amagansett, NY

- Typical home value: $3,055,122
- 1-year price change: +16.1%
- 5-year price change: +99.7%

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#4. Deal, NJ

- Typical home value: $3,197,857
- 1-year price change: +19.9%
- 5-year price change: +109.3%

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#3. Bridgehampton, NY

- Typical home value: $3,282,881
- 1-year price change: +5.4%
- 5-year price change: +69.8%

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#2. Water Mill, NY

- Typical home value: $3,614,190
- 1-year price change: +7.7%
- 5-year price change: +67.8%

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#1. Sagaponack, NY

- Typical home value: $5,130,984
- 1-year price change: +6.4%
- 5-year price change: +90.7%

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