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Real Estate Prices & Overview

Springs median real estate price is $1,176,556, which is more expensive than 83.3% of the neighborhoods in New York and 94.6% of the neighborhoods in the U.S.

The average rental price in Springs is currently $6,096, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 97.1% 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 small (studio to two bedroom) single-family homes and mobile homes. 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 29.5%. This is higher than the rate of vacancies in 94.5% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (27.4%). This can occur in 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. If you live here year round, 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 get around.

Real Estate

Do you like a coastal setting? If so, this neighborhood may be to your liking. The Springs neighborhood is on the ocean, a bay, or inlet. Often such coastal places have amenities and recreational activities on the waterfront that are attractive to residents and visitors alike. In addition to being coastal, Springs is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.

Modes of Transportation

In the Springs neighborhood, 1.8% of people ride a ferry to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of ferry ridership than in 99.4% of the neighborhoods in America.

People

Of note, 61.7% of the children in this area live in poverty; an extraordinarily high percentage compared to other neighborhoods in the nation. In a nation where approximately one in four children grows up in poverty, this neighborhood stands out for the depth of the problem manifested here.

In addition, if you're planning where to retire, the Springs neighborhood in East Hampton is a great option to consider. According to NeighborhoodScout's exclusive retirement dream area analysis, it's peaceful and quiet, has above average safety ratings compared to other neighborhoods in NY, offers a wide range of housing options, and has already attracted an enviable mix of college educated seniors. This neighborhood ranks as better for retirement living than 87.4% of the neighborhoods in New York. If you are considering retiring to New York, this is a good neighborhood to look at.

Diversity

Did you know that the Springs neighborhood has more South American and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 39.6% of this neighborhood's residents have South American ancestry and 8.0% have Eastern European ancestry.

The Neighbors

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 wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 85.0% of the neighborhoods in America. With 61.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 97.2% of U.S. neighborhoods.

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 sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Springs neighborhood, 41.7% 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 26.4% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (24.7%), and 7.1% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Springs neighborhood is English, spoken by 50.9% of households. Some people also speak Spanish (42.4%).

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Springs neighborhood in East Hampton, NY, residents most commonly identify their ethnicity or ancestry as South American (39.6%). There are also a number of people of Italian ancestry (9.7%), and residents who report Irish roots (9.3%), and some of the residents are also of English ancestry (8.2%), along with some Eastern European ancestry residents (8.0%), among others. In addition, 29.8% of the residents of this neighborhood were born in another country.

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 (53.2% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (56.7%) 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 (17.1%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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