Cost of Living in Sag Harbor, NY

With a cost of living index of 270, Sag Harbor, NY is one of the most expensive cities in the United States. Living here is 170% more expensive than the national average and 159% above the New York state average of 111. Sag Harbor is a small community of 2,449 residents.

Housing costs are the biggest factor in Sag Harbor's cost of living. The median monthly rent is $3,501 (165% above the US median of $1,319), and the median home value sits at $1,516,800 (397% above the national median of $304,900). At current prices, the median home costs roughly 9.8x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Sag Harbor is $154,583, which is 106% higher than the national median of $75,149. Residents spend roughly 27% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability. While incomes are above average, they do not fully offset the higher cost of living.

Climate is another factor for anyone considering a move to Sag Harbor. The area sees an average annual temperature of 53°F, with summers averaging 71°F and winters around 36°F. Annual rainfall totals 44.3 inches spread over roughly 125 days.

Everyday prices in the New York-Newark-Jersey City, NY-NJ (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 6 are priced higher than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.