How Long Will It Take You To Save Up For A Hamptons Share House?

by Christie Grimm · January 28, 2019

It's never too soon to start thinking about summer. Especially, how you'll be paying for it.

And according to Out East, the time to start saving up for your summer share house is now. If you save 20 percent (or basically $587) of each paycheck, your Hamptons house for the prime time month of July can be paid for in just under five months. That's of course assuming that you're going in on the deal with six friends. And since we know that in reality the average share house has like 10 or more people splitting the bill (or, 2 guys who pay for it all with groups of girls floating in and out for free), it's important to note that adding two additional roommates will decrease the per-person budget down by several hundred dollars each, also cutting your saving time down to 3.5 months.

If you're looking at a place in Sagaponack, be prepared to save up longer (closer to 10 months). And if you're on a serious budget, Hampton Bays is the place for you - you'd have to save up for just 2.75 months.

To give yourself the reality check you need, check out the below chart from Out East to see exactly what your damage is and when you need to get your shit together.

Hamlet/Village	July Median	Length of time to save	June Median	Length of time to save
Amagansett	$30K	4.25 months	$20K	2.75 months
Bridgehampton	$45K	6.5 months	$25K	3.5 months
East Hampton	$29K	4 months	$15K	2.25 months
Hampton Bays	$20K	2.75 months	$13.5K	2 months
Montauk	$26.5K	3.75 months	$16K	2.25 months
North Haven	$40K	5.75 months	$25K	3.5 months
North Sea (Harbor)	$20.5K	3 months	$15K	2.25 months
Quogue	$35K	5 months	$20K	2.75 months
Sag Harbor	$25K	3.5 months	$18K	2.5 months
Sagaponack	$70K	10 months	$30K	4.25 months
Southampton	$35K	5 months	$20K	2.75 months
Water Mill	$45K	6.5 months	$25K	3.5 months
Westhampton	$25K	3.5 months	$18K	2.5 months