Top 100 Most Expensive Zip Codes in US by Forbes in 2013-Rank no.5-11962, Sagaponack, NY
Rank no.5 – 11962, Sagaponack, NY
Sagaponack /sæɡəˈpɒnək/ is a village in the Town of Southampton in Suffolk County, New York, United States. The village incorporated on September 2, 2005, in the wake of the failed attempt by Dunehampton, New York to incorporate. Dunehampton’s incorporation would have blocked Sagaponack from Atlantic Ocean beaches. The villages are seeking to address various beach issues including erosion arising from groynes at Georgica Pond in East Hampton village.
The population of Sagaponack village at the 2010 census was 313. Prior to its incorporation, Sagaponack was a census-designated place, with a population at the 2000 census of 582 for an area 70% greater than that of the current village.
The Sagaponack ZIP Code (11962) was listed as the most expensive in the United States in 2009; the median home sale price was $4,421,458, according to Zillow.com. Nearby Watermill (11976) was listed sixth with $2,238,676, and Bridgehampton (11932) was listed eighth with $2,081,717.
The name Sagaponack comes from the Shinnecock Indian Nation word for “land of the big ground nuts". The big ground nuts were actually potatoes. Potato farming continued until late in the 20th century, and many of the huge estates in the village were built on potato fields. Its first settler was Josiah Stanborough in 1656. The village was originally called Sagg.
Estimated zip code population in 2011: 214
Zip code population (2000): 405
Houses and condos: 634
Renter-occupied apartments: 10
% of renters here: 9%
Mar. 2012 cost of living index in zip code 11962: 134.4 (high, U.S. average is 100)
Land area: 5.5 sq. mi.
Water area: 1.7 sq. mi.
Population density: 39 people per square mile
Real estate property taxes paid for housing units in 2011:
This zip code: 0.7% ($7,206)
New York: 1.5% ($4,273)
Median real estate property taxes paid for housing units with mortgages in 2011: $4,875 (0.5%)
Median real estate property taxes paid for housing units with no mortgage in 2011: $7,679 (0.8%)
Zip code 11962 compared to state average:
Median household income above state average.
Median house value significantly above state average.
Unemployed percentage significantly below state average.
Black race population percentage significantly below state average.
Hispanic race population percentage significantly below state average.
Median age significantly above state average.
Foreign-born population percentage below state average.
Renting percentage significantly below state average.
Length of stay since moving in significantly above state average.
Number of rooms per house above state average.
House age below state average.
Percentage of population with a bachelor’s degree or higher significantly above state average.
100% rural population.
Estimated median house/condo value in 2011: $1,000,001
New York: $285,300
Estimated median household income in 2011:
This zip code: $103,636
New York: $55,246
Estimate of home value of owner-occupied houses/condos in 2011 in zip code 11962:
$250,000 to $299,999: 3
$1,000,000 or more: 101
Rent paid by renters in 2011 in zip code 11962:
No cash rent: 10
Median price asked for vacant for-sale houses and condos in 2011: $1,198,392.
Estimated median house (or condo) value in 2011 for:
White Non-Hispanic householders: $926,534
Estimated median house or condo value in 2011: $1,000,001
New York: $285,300
Lower value quartile – upper value quartile: $1,000,001 – $1,000,001
Mean price in 2011:
Detached houses: $1,000,191
Housing units in structures:
One, detached: 629
One, attached: 5
Races in zip code 11962:
White population: 205
Black population: 0
American Indian population: 0
Asian population: 0
Native Hawaiian and Other Pacific Islander population: 0
Some other race population: 0
Two or more races population: 9
Hispanic or Latino population: 0
Housing units lacking complete plumbing facilities: 0.9%
Housing units lacking complete kitchen facilities: 0.5%
Top industries in this zip code by the number of employees in 2005:
Accommodation and Food Services: Full-Service Restaurants (10-19 employees: 1 establishment, 1-4 employees: 1 establishment)
Educational Services: Sports and Recreation Instruction (10-19: 1)
Accommodation and Food Services: Limited-Service Restaurants (5-9: 2)
Construction: New Single-Family Housing Construction (except Operative Builders) (5-9: 1, 1-4: 2)
Information: Motion Picture and Video Production (1-4: 2)
Administrative and Support and Waste Management and Remediation Services: Landscaping Services (1-4: 2)
Notable locations in zip code 11962:
Poxabogue Golf Course
Lakes and swamps:
Park in zip code 11962:
Sagaponack Historic District
11962, Sagaponack, NY
Home: 828 Sagg Main
List Price: $23 Million
Listed With: Terry Cohen