Long Island Dominates 2025 List of New York’s Most Expensive Places to Live
New analysis reveals 13 municipalities where monthly essential costs exceed $10,000, with Long Island securing seven of the top spots.
A new comprehensive analysis has revealed the most expensive and exclusive places to live in New York, showing that Long Island overwhelmingly dominates the top rankings. The findings—based on multiple cost indicators for 2025—highlight several municipalities where residents face monthly expenses exceeding $10,000 for basic necessities alone. This detailed study examined factors such as median home values, mortgage payments, and ongoing costs for groceries, utilities, healthcare, and transportation to paint a clear picture of the state’s highest-cost areas.
The study identified thirteen municipalities, each with a population of more than 2,500, where essential monthly expenses surpass the $10,000 threshold. Surprisingly, the top seven locations on this list are all within Long Island, underscoring its dominance in New York’s high-cost housing market. These results may shock many, especially regarding the specific areas that emerged as the most exclusive.
Long Island’s Most Expensive Communities Lead New Rankings
Long Island’s strong performance includes several prestigious communities. Sands Point, located in North Hempstead in Nassau County, stands out with a median estimated home value of about $2,986,180 for 2025. The annual cost of necessities in Sands Point is estimated at around $209,951, translating into monthly mortgage payments of about $14,787 and essential monthly costs nearing $17,496.
Other prominent Long Island locations closely following include Old Westbury, which spans parts of North Hempstead and Oyster Bay in Nassau County; Muttontown, also in Oyster Bay; and Lloyd Harbor in Huntington, Suffolk County. The list continues with Manhasset in Nassau County and the well-known destinations of Southampton and Montauk, both in Suffolk County.
Interestingly, the results indicate that Nassau County has outpaced Suffolk County in the number of ultra-expensive locations—something that may surprise those familiar with the wealthy Hamptons areas of Suffolk. Historical and literary ties add another layer of intrigue to some of these communities; Sands Point, along with Old Westbury and Muttontown—situated along what is often called the “Gold Coast”—is widely believed to have inspired the luxurious “East Egg” communities depicted in F. Scott Fitzgerald’s classic novel The Great Gatsby.
Westchester Joins Long Island in New York’s High-Cost Rankings
While Long Island dominates the top tier of the list, Westchester County also appears prominently. Larchmont ranks eighth statewide, solidifying Westchester’s position within the top ten. In Larchmont, the estimated median home value for 2025 is around $1,710,271, with essential annual costs nearing $131,800 and average monthly mortgage payments of $8,469.
After Larchmont, the list returns to Long Island, with Cold Spring Harbor ranked ninth and Roslyn rounding out the top ten. The remaining rankings show a dynamic mix of areas alternating between Westchester in the Lower Hudson Valley and the previously mentioned Nassau and Suffolk counties in Long Island—confirming the diverse distribution of high-cost living across the New York metropolitan region. This analysis offers valuable insight for anyone considering moving to these highly desirable—and often expensive—New York communities.
