Why Long Island Dominates the List of New York’s Most Expensive Places to Live

A recent report from GoBankingRates revealed that 9 of the top 10 and 16 of the top 20 most expensive places to live in New York are located right here on Long Island. While headlines like this tend to catch attention, the underlying reasons are rooted in clear, long-standing market fundamentals.

During my recent segment with News12 Long Island (@news12li), I broke down the major forces behind this trend — and why it’s unlikely to change anytime soon.

Top-Tier School Districts Drive Home Values

One of the strongest and most consistent drivers of Long Island’s property values is the quality of its school districts. Many of the communities that appear on this list have school systems ranked among the best in the entire country, not just the state.

For many homebuyers, especially families, school district quality is one of the most important factors in a home search. Strong schools naturally attract demand, and that demand supports higher home prices and higher local tax rates. This is a cornerstone of Long Island real estate — and a major reason these towns continue to rank so highly.

Unmatched Quality-of-Life Factors

Beyond the schools, Long Island offers a lifestyle that is difficult to replicate anywhere else in the region.

Residents enjoy:

• Beaches, marinas, and shoreline access

• Top-rated parks and recreation

• A vibrant restaurant scene

• Strong community feel

• Quick access to both NYC and the Hamptons, two globally recognized real estate hubs

When these amenities converge in a single area, long-term demand follows — and that demand is reflected in property values.

A Powerful Market Dynamic: Supply vs. Demand

Another key factor is the current state of Long Island’s housing market. We are still experiencing one of the strongest seller’s markets in the country, fueled by an extreme shortage of available homes.

Compared to this time in 2019, Nassau and Suffolk County have 53% fewer homes on the market. That inventory gap has been widening for years and continues to drive competition for quality homes.

When you combine:

• limited supply,

• strong buyer demand,

• top-ranked schools, and

• enviable quality-of-life benefits,

you end up with communities that naturally rise to the top of statewide “most expensive” rankings.

A Trend That’s Likely to Continue

Given the combination of high demand, strong local economy, and persistent inventory shortages, this trend isn’t temporary. Long Island’s desirability — from its schools to its amenities to its proximity to global economic centers — continues to reinforce property values year after year.

Catch the Full Discussion on News12

I was proud to share these insights in a recent interview with News12 Long Island (@news12li).
You can watch the full segment in the video above.

If you’d like a deeper look at the Long Island market or want to understand your home’s current value, feel free to reach out anytime. I’m always here to help guide you.