Real Estate Prices and Overview
Springs median real estate prices are $608,889, which is more expensive than 88.7% of the neighborhoods
in New York and 95.3% of the
neighborhoods in the U.S.
Average rental prices in Springs are currently
$1,594, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 89.1%
of the neighborhoods in New York.
Springs is a suburban neighborhood (based on population
density) located in East Hampton, New York. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
Springs real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and small apartment buildings.
Most of the residential real estate is owner occupied. Many of
the residences in the Springs neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
Vacant apartments or homes are a major fact of life in
Springs. The current real estate vacancy rate here is 46.5%.
This is higher than the rate of vacancies in 98.3% of
all U.S. neighborhoods. This can sometimes be the case in neighborhoods
dominated by seasonal homes (such as vacation areas), and occasionally
it is also found in neighborhoods that are primarily filled with college
students, as some apartments could be vacant when school is not in session.
But often neighborhoods with vacancy rates this high are places that
can be plagued by a protracted vacancy problem. If you live here, you
may find that a number of buildings in your neighborhood are actually empty.
Notable & Unique Neighborhood Characteristics
The way a neighborhood looks and feels when you walk or drive around it, from
its setting, its buildings, and its flavor, can make all the difference. This
neighborhood has some really cool things about the way it looks and feels as
revealed by NeighborhoodScout's exclusive research. This might include anything
from the housing stock to the types of households living here to how people
Notable & Unique: Real Estate
Springs is a neighborhood that is on the ocean, a bay, or inlet.
Many times, such places have amenities that bring locals and visitors to the
waterfront for recreational activities or to check out the scenery.
In some densely populated areas that are less financially well-off, the neighborhood
waterfront can be relatively industrial and less open to recreation.
In addition, despite all of the residential real estate here in the Springs neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 46.5%, which is higher than 98.3% of all U.S. neighborhoods.
Furthermore, this Springs neighborhood has earned the amazing distinction of having one of the highest rates of detached, single-family homes of any neighborhood in the U.S. With 96.5% of the residential real estate here made up of free-standing single-family homes, there is a greater proportion of single-family homes here than in 95.2% of all neighborhoods in America.
Notable & Unique: Diversity
Did you know that the Springs neighborhood has more
South American ancestry people living in it than nearly
any neighborhood in America? It's true! In fact, 24.6% of
this neighborhood's residents have South American ancestry.
Notable & Unique: Length of Commute
Regardless of the means by which residents commute, this neighborhood has
a length of commute that is notable.
Long commutes can be brutal. They take time, money, and energy, leaving less
of you for yourself and your family. The residents of the
Springs neighborhood unfortunately have the distinction of having,
on average, a longer commute than most any neighborhood in America.
10.3% of commuters here travel more than one hour just one-way
to work. That is more than two hours per day. This percentage with two-hour +
round-trip commutes is higher than NeighborhoodScout found in 97.6%
of all neighborhoods in America.
Notable & Unique: People
Springs has the amazing distinction of housing more same
sex couples living together than 97.0% of neighborhoods
in the U.S. If you are seeking such a neighborhood, NeighborhoodScout's
analysis shows that this is one place that you should consider.
In addition, if you are an executive or professional seeking a neighborhood affording
an executive lifestyle, or just wanting to find where other executives
live in the area, the Springs neighborhood should be
on your list. It has an enviable mix of spacious homes, relatively stable
real estate values, and residents that include a number of wealthy
executives, managers, and professionals. NeighborhoodScout's exclusive
analysis places it as one of the top 12.9% executive lifestyle
neighborhoods in the state of New York.
The Neighbors: Income
How wealthy a neighborhood is, from very wealthy, to middle income, to low
income is very formative with regard to the personality and character of a
neighborhood. Equally important is the rate of people, particularly children,
who live below the federal poverty line. In some wealthy gated communities,
the areas immediately surrounding can have high rates of childhood poverty,
which indicates other social issues. NeighborhoodScout's analysis reveals
both aspects of income and poverty for this neighborhood.
The neighbors in the Springs neighborhood in East Hampton are upper-middle income, making it an above average income neighborhood.
NeighborhoodScout's exclusive analysis reveals that this neighborhood has
a higher income than 78.6% of the neighborhoods in America.
With 24.8% of the children here below the federal poverty
line, this neighborhood has a higher rate of childhood poverty than 66.3%
of U.S. neighborhoods.
The Neighbors: Occupations
A neighborhood is far different if it is dominated by enlisted military personnel
rather than people who earn their living by farming. It is also different if
most of the neighbors are clerical support or managers. What is wonderful is
the shear diversity of neighborhoods, allowing you to find the type that fits
your lifestyle and aspirations.
In the Springs neighborhood, 32.1%
of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is
sales and service jobs, from major sales accounts, to working in fast food restaurants, with 31.3% of the residents employed.
Other residents here are employed in manufacturing and laborer occupations
(23.5%), and 12.8% in clerical, assistant, and tech support occupations.
The Neighbors: Ethnicity / Ancestry
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities
and ancestries have different cultural traditions, and as a result, neighborhoods
with concentrations of residents of one or another ethnicities or ancestries
will express those cultures. It is what makes the North End in Boston so fun
to visit for the Italian restaurants, bakeries, culture, and charm, and similarly,
why people enjoy visiting Chinatown in San Francisco.
In the Springs neighborhood in East Hampton, NY, residents
most commonly identify their ethnicity or ancestry as South American
(24.6%). There are also a number of people of English ancestry (10.7%) , and residents who report Irish roots (9.8%) , and some of the residents are also of Italian ancestry (9.6%) , along with some German ancestry residents (5.5%), among others. In addition, 31.4% of the residents of this neighborhood were born in another country.
The Neighbors: Languages
The most common language spoken in the Springs
neighborhood is English, spoken by 60.1% of households. Some people also speak Spanish (36.1%).
Getting to Work
How you get to work – car, bus, train or other means – and how much of your
day it takes to do so is a large quality of life and financial issue. Especially
with gasoline prices rising and expected to continue doing so, the length and
means of one's commute can be a financial burden. Some neighborhoods are physically
located so that many residents have to drive in their own car, others are set
up so many walk to work, or can take a train, bus, or bike.
The greatest number of commuters in Springs neighborhood spend
between 15 and 30 minutes commuting one-way to work (32.9% of working
residents), which is shorter than the time spent commuting to work for most Americans. However, there is also a significant group of residents (10.3%) who
commute over an hour in each direction.
Here most residents (79.5%) drive alone in a private automobile to get to work.
In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (14.4%) . In a neighborhood like this, as in most of the nation, many residents find owning
a car useful for getting to work.