Water Mill, NY
Population 2,218 · New York
About Water Mill, NY
Water Mill is a small town located in New York with a population of 2,218 residents according to the latest US Census Bureau American Community Survey data. The median household income is $158,250 per year, which is 111% above the national median of $75,149. The median age of 56.2 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Water Mill features a median home value of $2,000,001, which is 717% above the national median of $244,900. This places Water Mill in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $3,150, 171% above the national average of $1,163/month. Of the 2,374 total housing units, 91% are owner-occupied (985 units) and 9% are renter-occupied (95 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Water Mill shows an unemployment rate of 7.1%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 3.4%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Water Mill have an average one-way commute time of 23.3 minutes.
Education & Demographics
77.6% of Water Mill residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 1.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, and 9.3% Asian residents, with 10.6% of the population being foreign-born.
How Water Mill Ranks in New York
Cost of Living in Water Mill, NY
Compared to national averages, Water Mill has a median household income of $158,250 (111% above the national median of $75,149). Home values average $2,000,001, which is 717% above the national median. Monthly rent at $3,150 is 171% above the US average of $1,163. Within New York, Water Mill's income is 63% above the state average of $96,987, and home values are 417% above the state median of $387,181.
Why Live in Water Mill, NY?
Water Mill offers a strong local economy with a median household income of $158,250, well above the national average, and a well-educated community where 77.6% of residents hold a bachelor’s degree or higher, and a low poverty rate of 3.4%, better than the national average. Additionally, the city features short commute times averaging just 23.3 minutes.
Potential considerations include a competitive housing market where the typical home costs $2,000,001. However, Water Mill’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Water Mill has a population of 2,218 with a median age of 56.2 years. Compare Water Mill with other cities to see how it stacks up, or explore all cities in New York.
Similar Cities Near Water Mill
Cities in New York with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Brewster Hill | 2,211 | $96,540 | $416,200 | Compare |
| Tioga Terrace | 2,206 | $126,250 | $209,700 | Compare |
| Pulaski | 2,202 | $62,733 | $151,200 | Compare |
| Fort Montgomery | 2,198 | $80,946 | $347,200 | Compare |
| Caledonia | 2,193 | $89,583 | $169,700 | Compare |
| Fishkill | 2,193 | $94,348 | $280,400 | Compare |
| Lima | 2,188 | $85,469 | $195,400 | Compare |
| Saugerties South | 2,253 | $81,250 | $264,000 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New York
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Water Mill With Other Cities
Frequently Asked Questions about Water Mill
What is the population of Water Mill, NY?
The population of Water Mill, NY is 2,218 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in New York.
What is the median household income in Water Mill?
The median household income in Water Mill, NY is $158,250 per year, which is 111% above the national median of $75,149.
What is the median home value in Water Mill?
The median home value in Water Mill, NY is $2,000,001, which is 717% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Water Mill?
The median monthly rent in Water Mill, NY is $3,150, which is 171% above the national average of $1,163/month.
What is the unemployment rate in Water Mill?
The unemployment rate in Water Mill, NY is 7.1%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Water Mill, NY a good place to live?
Water Mill offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 2,218 and a median age of 56.2, the city appeals to established professionals and retirees.
How educated is Water Mill, NY?
77.6% of residents in Water Mill aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Water Mill?
Key cost-of-living indicators for Water Mill, NY: median home value is $2,000,001 (717% above national), median rent is $3,150/month, and median household income is $158,250. The home-value-to-income ratio is 12.6x, which suggests housing may be stretched relative to local earnings.
What is the poverty rate in Water Mill?
The poverty rate in Water Mill, NY is 3.4%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Water Mill, NY?
Water Mill's population is 1.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 9.3% Asian, and 0.5% two or more races. 10.6% of residents are foreign-born.