Through theyears East Hampton's wealth has evolved emanating out from the village takingover the farmland that had once been dominated by potato fields. The most dazzling row ofmansions remains in the village of East Hampton on the closest road parallelingthe ocean along Further Lane and Lily Pond Lane.
Whileostentatious displays of wealth occurred near the ocean ("south of the Montauk Highway") much simpler housesand bungalows have been built through the years throughout its historyparticularly in Springs and Montauk. In the 1950s and 1960s following the Kitchen Debate between Nikita Khrushchev and Richard Nixon more than cheap affordable prefabricatedhousing second homes called Leisurama were built in Montauk at CullodenPoint.
In November2006, the median price of a house in the Town was US $895,000 comparedwith a national median for the U.S. of $225,000. Several houses in East Hamptonnow sell for prices in the tens of millions of dollars. Living in East Hamptonis relatively expensive, in 2007 the cost of living was 168% of the nationalaverage.