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3 of the 10 Most Costly ZIP Codes are on LI, study says

Those living in East Hampton spend 27.8 percent

Those living in East Hampton spend 27.8 percent of their income for expenses, according to the findings of Movoto Blog, an arm of Movoto Real Estate, a licensed brokerage in San Mateo, Calif. This is Main Street on June 19, 2012. Credit: Gordon M. Grant

Taking a look at the cost of housing relative to residents’ income, Movoto Real Estate, a licensed California brokerage, found Albertson, East Hampton and Atlantic Beach ranked 2, 5 and 8, respectively, in the Top 10 most costly ZIP codes in America.

The number crunchers at Movoto Blog, an arm of Movoto Real Estate, used data from the 2008 to 2012 U.S. Census American Community Survey, which yielded 28,136 places. They then examined median monthly owner costs as a percentage of household income, gross median rent as a percentage of household income, median total rent and median value of owned housing units.

“Basically, we looked at how expensive it is to live in a place, no matter whether you buy or rent,” says Laura Allan, who worked on the ranking.

“Basically, we looked at how expensive it is to live in a place, no matter whether you buy or rent,” says Laura Allan, who worked on the ranking.

Albertson residents part with more than 33 percent of their income on median monthly homeowner costs, while those living in East Hampton and Gardiners Island spend 27.8 percent of their income for expenses, according to Movoto’s findings.

As for the compact village of Atlantic Beach, analysis showed that renters spend a hefty 50 percent of their income on rent, compared to homeowners, who spend 31.1 percent of their income on housing expenses.

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