Cost of Living in Montauk

Montauk, located at the eastern tip of Long Island, is known for its beautiful beaches, outdoor activities, and as a summer getaway, which can drive up the cost of living, especially during peak seasons. Housing prices in Montauk vary greatly depending on proximity to the beach, amenities, and the time of year. As of my knowledge cutoff in early 2023, the median home price in Montauk can be quite high, with 3-bedroom homes often starting around $1.5 million and 4-bedroom homes climbing well above that, with many selling for between $2 million to $5 million or more, depending on the location and luxury level of the property.

Apartment rentals in Montauk also reflect the area's desirability and seasonality. A typical 1-bedroom apartment can rent for anywhere from $2,000 to $4,000 per month, with prices increasing for larger apartments or those with ocean views or closer proximity to the beach. Purchasing an apartment or a condo in Montauk can also be costly, with prices often starting at around $500,000 and going up significantly from there, depending on the size and location.

When it comes to dining out, Montauk offers a range of options from casual eateries to upscale restaurants. A meal at an inexpensive restaurant might cost around $20 to $30 per person, while a three-course meal at a mid-range restaurant can range from $50 to $100 per person, not including drinks, tax, or tip. High-end dining experiences can be significantly more expensive, especially at sought-after locations with ocean views.

Utilities in Montauk, including electricity, heating, cooling, water, and garbage services, can average around $200 to $400 per month for a standard home, depending on usage and the time of year, with costs typically higher in the summer months when air conditioning usage increases.

Private school tuition in Montauk and the surrounding areas can be a significant expense for families. Preschool costs can vary widely, but on average, you might expect to pay anywhere from $10,000 to $20,000 per year. Tuition for private elementary schools, middle schools, and high schools can range from $20,000 to $40,000 per year or more, depending on the institution's reputation and the level of education provided.