Hamptons Beach Town Makes 'Least Affordable' List

A Hamptons beach hamlet has made the list of one of the most "least affordable" in the nation, according to Realtor.com.

According to a Realtor.com post, "America's Most—and Least—Affordable Beach Towns, 2017 Edition", while beach destination Keansburg, N.J., has a median home price of $125,000, out on the East End, the Hamptons are included in "beach towns you probably can't afford."

For example, "In Water Mill, NY, the chic heart of the chic Hamptons, you'll drop about $3.75 million for the privilege of living on the beach near folks like Jennifer Lopez. Part of the Town of Southampton, Water Mill has strict land use regulations that limit many new houses to 5-acre lots," the post states.

The only beach town more expensive than Water Mill in the nation: Malibu, Calif.

And it's not the first time Water Mill has earned the pricey designation: In March, Water Mill earned the title of most expensive zip code in New York, according to a report.

According to an article posted on gobankingrates.com, the most expensive zip code in New York isn't located amongst the bright lights, in the big city of Manhattan, as some might think.

Nope, according to the post, that distinction goes to Water Mill, zip code 11976, where the Zillow median home value is $3,798,500. That's compared to a median home value of a mere $1.25 million in Manhattan, according to the post.

But not to worry: According to Realtor.com, there are plenty of beach towns where property can be had for a song. Atlantic City, for example, has a median home price of $117,500.

To read the full Realtor.com post of most and least affordable beach towns, click here.