While The Hamptons are popularly known as a summer playground for the mega-wealthy, thousands live in the area all year long. Since not everyone can afford $200K to lease vacation home, we thought it might be interesting to take a look at opposite (see: realistic) end of the rental spectrum and check out what's available to the typical East End family in the off season.
Using the most recent census data, we determined that the median income for a family living in the area is around 65k/year (give or take). After taxes, this works out to be about $4150/month. The prevailing wisdom is that no more than 1/3 of one's take home pay should go towards housing, so that leaves about $1375 to put towards rent (a mortgage is completely out of the question). We've bumped this up to $1500...just because.
So, what does $1500 a month get ya?
? 1. $1495 / 2br - Adorable Furnished Cottage [Craigslist]
The Springs, this two-bedroom cottage features all new appliances, an outdoor shower and a gazebo. Most notably, it's just steps away from the beach and Gardiners Bay. Unfortunately, it's only available for the winter months, so you'll need to vacate come Memorial Day.
? 2. $1100 / 2br - Beautiful Apartment In The Hamptons [Craigslist]
If you're not adverse to basement living, this newly constructed two-bedroom in
The Springs might work. It comes with a "private entrance, wood floors, marble bathroom, full size kitchen, ceder lined closets, recessed lighting and its own parking space" And, much like number one, it's only for the winter months.
? 3. $1500 / 2br - House for Rent [Craigslist]
At 800 sq. ft., this house is smaller than some of the apartments we've lived in, but at this price range there's not much to choose from. It's got a solid location?between Bridgehampton, Sag Harbor and East Hampton?and is backed by a nature preserve, so there's a chance that it feels bigger than it actually is. The best part is that it's available year-round.
? 4. $1300 / 2br - Year Round Rental [Craigslist]
This Southampton apartment doesn't offer much?large closets, and eat-in-kitchen, a full bath?but it is available year round.
? 5. $1000 / 2br - Charming Light Cottage [Craigslist]
This two bedroom, one bath cottage with an open kitchen is walking from center of Amagansett (and the Jitney). Sadly, it is only available for the winter months as well.