Quick Answer: What Is The Wealthiest Town In Long Island?

What is middle class income on Long Island?

The study defines middle class as $92,238 to $138,492 with the average household size of three people, taking into account the high cost of living on Long Island..

How much money do you need to make to live on Long Island?

The organization’s family budget calculator estimates how costly it is to live in each of America’s 3,142 counties and 611 metro areas. The group estimates a family of two adults and two children in the Nassau/Suffolk metro area would need to earn a combined $139,545 per year — or $11,629 a month — to live comfortably.

Is it expensive to live in Long Island?

Long Island Is The Second Most Expensive Place To Live In The United States. When it comes to living on Long island we all know it isn’t the cheapest place to live. … It turns out that Long Island is the second most expensive place to live in the United States. It cost a family of four $103,000 a year just to get by.

What is the poverty line on Long Island?

6.6%The federal poverty rate of $24,600 for a family of four is what defines the 6.6% on Long Island. That shouldn’t come as a surprise to anyone when an individual earning $24,600 can’t afford to live in Nassau or Suffolk.

Why are Long Island taxes so high?

Property values are high on the Island in part because Nassau and Suffolk are New York City suburbs. Property taxes are disproportionately high because more than 60% goes to fund public education. … To control property tax increases, the state has imposed either a 2% tax cap or the rate of inflation, whichever is lower.

Is Long Island safe to live?

But Long Island is made of MANY different towns, neighborhoods, hamlets and townships with varying degrees of safety. Relatively speaking I’d say most places are safer than New York City, but there are some places I’d never wanna be caught in on Long Island. … Like Long Island, you have nice places and rough places.

What is the average income on Long Island?

Median and Average Income in Long Island topAverage Household Income$105,025.00Median Household Income$54,113.00People below Poverty Level2,418People above Poverty Level19,693

What is the poorest town on Long Island?

The communities that the report cited as having the top 10 highest rates of poverty and ALICE on LI were Riverside, Northampton, Inwood, Hempstead, Calverton, Greenport, Aquebogue, Moriches, Central Islip and Mastic Beach.

Where is the cheapest place to live Long Island?

The 10 Most Affordable Suburbs in Long IslandSmithtown. The town of Smithtown is located in Suffolk County. … Stony Brook. The Suburb of Stony Brook is located in Suffolk County in the town of Brookhaven. … Massapequa Park. Massapequa Park is a suburb in Nassau County in the town of Oyster Bay. … Wantagh. … Commack. … Holtsville. … Bellmore. … Lake Ronkonkoma.More items…

What is living on Long Island like?

Long Island has plenty of beaches to hang around, Port Jefferson is a nice place. Housing may be bit expensive compared to what place has to offer but given its proximity to NYC its not surprising. People are very kind and amicable. Weather on long island can be pretty harsh during winters.

What is considered low income in Long Island?

A 7-person family on Long Island that makes a six-figure salary, or less than $100,450, can be considered low income.

What is the best place to live in Long Island?

It comes as no surprise that many think of Greenport as the best place to live in Long Island. This village in Suffolk County makes it to several lists of best neighborhoods in Long Island, and not without reason. It is consistently ranked as the safest region on the island.

Why is Long Island so rich?

Long Island, NY is rich in farming history and features many produce farms located on both the North Shore and South Shores. Because the western and central regions of the island are now largely devoted to residential use, the East End of the island is now the primary agricultural area of Long Island.

What is the most expensive neighborhood in Long Island?

Old Westbury. Old Westbury, located in both the Town of Oyster Bay and the Town of North Hempstead, was deemed New York’s most expensive suburb by Business Week. … East Hills. … Muttontown. … Roslyn. … Roslyn Harbor. … Centre Island. … Old Brookville. … Upper Brookville.More items…

Is Long Island an affluent area?

Long Island is known for its affluence and high quality of life. According to Forbes Magazine, Nassau and Suffolk Counties are among the top 25 richest counties in America. Additionally, Nassau County is the third richest county per capita in New York State, and the 30th richest in the nation.

Who is the largest employer on Long Island?

Long Island’s largest employersNorthwell Health. Credit: Randee Daddona. … New York State. Credit: Getty Images. … Catholic Health Services. Credit: Newsday / Leslie Barbour. … Nassau County. Credit: Amy Onorato. … Federal government. Credit: AP. … Suffolk County. Credit: Ed Betz. … Stop & Shop. Credit: Danielle Finkelstein. … Winthrop-University Hospital. Credit: Ian J.More items…

How much money do you need to buy a house in Long Island?

According to the data, a household’s annual income to purchase a home (with 3 percent down and a 28 percent front-end debt-to-income ratio) is $145,531 in Nassau and $115,652 in Suffolk.

What salary is considered rich in New York?

Of those earning between $40,000 and $60,000 a year, 7% consider themselves “rich.” But when it comes to high-earners, those making $90,000 to $150,000 a year, just 9% consider themselves “rich” and 5% actually classify themselves as “poor.”