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Real Estate Prices & Overview

Springy Banks Rd / Oyster Shores Rd median real estate price is $2,105,786, which is more expensive than 95.3% of the neighborhoods in New York and 98.6% of the neighborhoods in the U.S.

The average rental price in Springy Banks Rd / Oyster Shores Rd is currently $3,405, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 43.8% of New York neighborhoods.

Springy Banks Rd / Oyster Shores Rd is a rural neighborhood (based on population density) located in East Hampton, New York. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).

Springy Banks Rd / Oyster Shores Rd real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and small apartment buildings. Most of the residential real estate is owner occupied. Many of the residences in the Springy Banks Rd / Oyster Shores Rd neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

Vacant apartments or homes are a major fact of life in Springy Banks Rd / Oyster Shores Rd. The current real estate vacancy rate here is 41.4%. This is higher than the rate of vacancies in 98.0% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (39.2%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

Real Estate

Springy Banks Rd / Oyster Shores Rd is a neighborhood that is on the ocean, a bay, or inlet. Many times, such places have amenities that bring locals and visitors to the waterfront for recreational activities or to check out the scenery. In some densely populated areas that are less financially well-off, the neighborhood waterfront can be relatively industrial and less open to recreation. In addition to being coastal, Springy Banks Rd / Oyster Shores Rd is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.

In addition, despite all of the residential real estate here in the Springy Banks Rd / Oyster Shores Rd neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 41.4%, which is higher than 98.0% of all U.S. neighborhoods.

Modes of Transportation

In the Springy Banks Rd / Oyster Shores Rd neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 43.9% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 99.1% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.

People

Astoundingly, NeighborhoodScout's research reveals that this single neighborhood has a higher concentration of married couples living here than 99.1% of all U.S. neighborhoods. Whether they have school-aged children or not, married couples are the rule in the Springy Banks Rd / Oyster Shores Rd neighborhood. If you are a married couple, you may find many people here with a similar lifestyle, and perhaps common interests. But if you are single, you might not find many other singles here.

In addition, a majority of the adults in the Springy Banks Rd / Oyster Shores Rd neighborhood are wealthy and educated executives. They own stately homes that tend to maintain high real estate appreciation rates. Their upper-level careers keep them busy, but allow them to live comfortably. If you're an executive and want to keep similar company, consider settling in this neighborhood, rated as an executive lifestyle "best choice" neighborhood for New York by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 98.7% of the neighborhoods in New York. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for active retirees, urban sophisticates and families with school-aged children.

Diversity

Did you know that the Springy Banks Rd / Oyster Shores Rd neighborhood has more Russian and Hungarian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 7.1% of this neighborhood's residents have Russian ancestry and 2.6% have Hungarian ancestry.

Migration / Stability

Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Springy Banks Rd / Oyster Shores Rd neighborhood. More residents of the Springy Banks Rd / Oyster Shores Rd neighborhood live here today that also were living in this same neighborhood five years ago than is found in 97.3% of U.S. neighborhoods. This neighborhood is really made up of people who know each other, don't move often, and have lived here in this very neighborhood for quite a while.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Springy Banks Rd / Oyster Shores Rd neighborhood in East Hampton are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 90.2% of the neighborhoods in America. With 47.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 93.1% of U.S. neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Springy Banks Rd / Oyster Shores Rd neighborhood, 52.8% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 29.8% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (11.0%), and 5.7% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Springy Banks Rd / Oyster Shores Rd neighborhood is English, spoken by 69.8% of households. Some people also speak Spanish (23.6%).

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Springy Banks Rd / Oyster Shores Rd neighborhood in East Hampton, NY, residents most commonly identify their ethnicity or ancestry as German (17.9%). There are also a number of people of Irish ancestry (12.2%), and residents who report English roots (7.5%), and some of the residents are also of Russian ancestry (7.1%), along with some Italian ancestry residents (4.9%), among others. In addition, 29.3% of the residents of this neighborhood were born in another country.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Springy Banks Rd / Oyster Shores Rd neighborhood spend under 15 minutes commuting one-way to work (34.7% of working residents), one of the shortest commutes across America.

Here most residents (39.3%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (7.4%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.

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