Real Estate Prices and Overview
Springs median real estate prices are $608,889, which is more expensive than 88.6% of the neighborhoods
in New York and 95.3% of the
neighborhoods in the U.S.
Average rental prices in Springs are currently
$1,976, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 94.5%
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, vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 46.5% of the residential real estate vacant, the Springs neighborhood claims the distinction of having a higher vacancy rate than 98.3% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.
Furthermore, some neighborhoods are made up of apartments. Some consist of row houses, and most - by far - consist of a mixture of housing types. But the Springs neighborhood stands out due to the total dominance of detached, single-family homes here. There are nearly no other types of residential real estate in the neighborhood. In fact, this neighborhood has a higher proportion of single-family homes in its real estate stock than 95.2% of all American neighborhoods.
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
There are two complementary measures for understanding the income of a
neighborhood's residents: the average and the extremes. While a neighborhood
may be relatively wealthy overall, it is equally important to understand
the rate of people - particularly children - who are living at or below the
federal poverty line, which is extremely low income. Some neighborhoods with
a lower average income may actually have a lower childhood poverty rate than
another with a higher average income, and this helps us understand the
conditions and character of a 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
The old saying "you are what you eat" is true. But it is also true that you
are what you do for a living. The types of occupations your neighbors have
shape their character, and together as a group, their collective occupations
shape the culture of a place.
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
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves,
Los Angeles' Persian neighborhoods. Each has its own culture derived primarily
from the ancestries and culture of the residents who call these neighborhoods
home. Likewise, each neighborhood in America has its own culture – some more
unique than others – based on lifestyle, occupations, the types of households
– and importantly – on the ethnicities and ancestries of the people who live
in the neighborhood. Understanding where people came from, who their grandparents
or great-grandparents were, can help you understand how a neighborhood is today.
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
Even if your neighborhood is walkable, you may still have to drive to your
place of work. Some neighborhoods are located where many can get to work in
just a few minutes, while others are located such that most residents have a
long and arduous commute.
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.