The 5 Most Expensive Neighborhoods in the Northeast

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Home to gorgeous landscapes, cultural landmarks and some of the nation’s largest cities, the Northeast has quite a lot to offer visitors and residents alike. But is the Northeast affordable to live in? Well, that largely depends on which areas you’re looking at. If you’re on a frugal budget, there are definitely a handful of neighborhoods you’ll want to avoid given their steep price tags. 

In a new study, GOBankingRates found the most expensive neighborhoods in different U.S. regions. Let’s have a look at the five most expensive neighborhoods in the Northeast. Neighborhoods are ranked in order from least to most expensive. 

5. Tribeca, New York City 

• Livability: 75
• Household median income: $79,713 
• Average single-family home value: $4,925,921  
• Total cost of living annually: $387,847  

4. Southampton Village, New York 

• Livability: 69
• Household median income: $177,045 
• Average single-family home value: $5,283,782  
• Total cost of living annually: $406,766  

3. Greenwich Village, New York City 

• Livability: 75
• Household median income: $79,713 
• Average single-family home value: $5,368,573  
• Total cost of living annually: $419,524  

2. East Hampton Village, New York 

• Livability: 67
• Household median income: $114,375 
• Average single-family home value: $5,875,443  
• Total cost of living annually: $449,468  

1. West Village, New York City 

• Livability: 75
• Household median income: $79,713 
• Average single-family home value: $6,740,701  
• Total cost of living annually: $517,718  

Methodology: For this study, GOBankingRates found the most expensive neighborhoods in different U.S. regions including West, Midwest, South, Northeast, the East Coast and West Coast. For each region, the top five neighborhoods with the highest single-family home average values were identified using Zillow Home Value Index from December 2024. For each neighborhood, the cities which they reside in were identified and a number of factors were found including total population, population ages 65 and over, total households and household median income all sourced from the U.S. Census American Community Survey. Using this data the percentage of the population ages 65 and over can be calculated. The cost of living indexes were sourced from Sperling’s BestPlaces and include the grocery, healthcare, housing, utilities, transportation and miscellaneous cost of living indexes. Using the cost of living indexes and the national average expenditure costs, as sourced from the Bureau of Labor Statistics Consumer Expenditure Survey, the average expenditure cost for each location can be calculated. The livability index was sourced from AreaVibes for each location. Using the average single-family home value, assuming a 10% down payment, and using the most recent national average 30-year fixed mortgage rate, as sourced from the Federal Reserve Economic Data, the average mortgage can be calculated. Using the average mortgage and average expenditure costs, the average total monthly and annual cost of living can be calculated. The neighborhoods were sorted within their appropriate regions and sorted to show the neighborhoods with the highest single-family home values first with all the other data provided as supplemental information. All data was collected on and is up to date as of Jan. 27, 2025.

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