Cost of Living in Sag Harbor

Sag Harbor, is a quaint and historic village located on the eastern end of Long Island, within the Hamptons. Known for its charming main street, cultural attractions, and maritime history, Sag Harbor is also recognized for its high cost of living, particularly in real estate. Housing prices in Sag Harbor are significantly higher than the national average, reflecting the desirability of the area and its popularity among affluent residents and second-home owners.

As of my knowledge cutoff in early 2023, the median home price in Sag Harbor for a 3-bedroom home can range from approximately $1.5 million to over $2.5 million, depending on the location, condition, and amenities of the property. A 4-bedroom home typically commands a higher price, often between $2 million and $4 million or more. These prices can fluctuate based on market conditions and the unique characteristics of each home.

Apartment rentals in Sag Harbor are also quite expensive, with monthly rents for a 1-bedroom apartment starting around $2,500 to $3,500, while larger 2-bedroom apartments can easily exceed $4,000 per month. Apartment purchases are similarly high, with condos and co-ops ranging from $500,000 for a modest unit to several million dollars for luxury accommodations with water views or other premium features.

Dining out in Sag Harbor can be a costly affair, with many restaurants catering to an upscale clientele. A meal at a mid-range restaurant can cost between $20 to $40 per person, while a dinner at a higher-end establishment can easily exceed $100 per person, especially if you include wine and dessert. Fast-casual and takeout options are more affordable but still pricier than the national average.

Utilities in Sag Harbor, including electricity, heating, cooling, water, and garbage services, can cost around $200 to $400 per month for a standard-sized home, depending on usage and the time of year. The harsh Northeast winters can lead to higher heating costs, while summers may see increased expenses for air conditioning.

Private school tuition in Sag Harbor varies widely based on the institution and the level of education. Preschool tuition can range from $10,000 to $20,000 per year. Elementary and middle schools may charge between $20,000 and $35,000 annually, while private high schools can cost upwards of $25,000 to $40,000 or more per year. These figures are indicative and can vary significantly based on the school's reputation, facilities, and educational programs offered.