Pros & Cons of Buying in Freeport

November 20, 2022

Freeport, NY dates back to the 1640s, but it wasn’t always called Freeport. The area was previously the home of the Meroke tribe, and in colonial times was known as the Great South Woods. After that, the village was called Raynor South and then Raynortown until residents voted to name it “Freeport,” embracing the nickname given to it by commercial sea captains. In the 1800s, Freeport thrived as a center for the oystering industry—a legacy you can enjoy today at numerous oyster bars along the Nautical Mile.

Is Freeport, NY, A Good Place to Live?

Niche.com gives Freeport an above-average grade for livability, with especially high scores for diversity, nightlife, and outdoor activities. Surveyed residents called the village “excellent” and “very good,” and many mention its welcoming atmosphere.

The largest employment industries in Freeport are health care, retail, and education, and the median household income is $85,540—higher than the national median of $70,784. Most residents own their homes here, and neighborhoods have a mixed urban or suburban feel depending on your location. Whether you’re looking for a single-family home with a yard, an affordable co-op, or a convenient condo, you’ll find it here. Considering a move? Check out our top pros and cons for buying a home in Freeport.

Pros of buying in Freeport

1. Peace and Quiet

Want big city amenities without the big city hustle? Welcome to Freeport. This village is located within easy commuting distance in NYC, but based on the local lifestyle, you wouldn’t know it. Residents in a variety of Freeport neighborhoods note how calm and quiet their streets are, and many comment on the friendliness of their neighbors. Crime rates are also lower here than they are in New York and the U.S. overall. Local festivals, farmers markets, and community events bring people together, and in Freeport, you don’t have to sacrifice great shopping opportunities and delicious restaurants just because you’re in the suburbs.

2. Perfect for Foodies

Speaking of delicious restaurants, Freeport’s got ‘em. If “great places to eat” is high on your must-have list, this is the place for you—especially if you love seafood. Well-known for fishing and oystering, Freeport boasts more than 20 seafood restaurants with 4-star ratings or better.

Fishy food not your thing? Don’t worry. Classic diners, down-home barbecue joints, and tasty pizza places in this village also receive top ratings. This year, local restaurant Backyard Barbeque was given an award by the Business Council of New York State! Additionally, Freeport’s high level of diversity brings the added bonus of delicious restaurants from many different cultures. Enjoy food from Peru, Jamaica, Japan, Mexico, Portugal, China, Italy, the Dominican Republic, Salvador, and many other countries without ever leaving Freeport.

3. Cheap Utilities

Utility costs are one of those boring things that often don’t make our radar when we’re house hunting. They’re not as flashy as great curb appeal or a spectacular new kitchen, and they don’t affect our day-to-day as much as that perfect, convenient location. But buying a home in an area with affordable utility costs can save you a lot of money in the long run.

The village of Freeport is unique in that it has its own municipal electric and water utilities. They operate independently of utilities in the surrounding areas, which means better service and performance as well as savings for your wallet. How much will you save? Freeport Electric reports that its rates are 30% less than other Long Island rates as furnished by PSEGLI (LIPA).

Cons of Buying in Freeport

1. Climate Change Risk

Freeport is no stranger to severe weather. When Hurricane Sandy hit, this village took some of the worst damage. Since then, local officials have taken measures to prevent destruction from future disasters, including moving electrical substations out of floodplains, lifting properties, and fighting to get surge barrier gates installed. The latter is still a work in progress as of an October 2022 report.

Communities on the coastline are generally at a higher risk of damage due to some climate-related hazards. In Freeport, those hazards include severe storms, wind damage, and flooding. Freeport homeowners will need to protect themselves by purchasing homeowners insurance, and flood insurance—and if possible, avoid buying a home in a flood plain.

2. Tourist Season

As NYC is the 7th most-visited city in the world, most New Yorkers know the drill when it comes to tourism—and when they move to the suburbs, many want to avoid it. Whether you’re relocating from out of state or a nearby neighborhood, be aware that Freeport’s Nautical Mile is one of the most popular tourist destinations on Long Island. Nassau County ranks fourth out of 62 New York counties for traveler spending, most of it by day-trippers.

Tourism—while it can be annoying—does benefit the local economy. In 2019, Freeport’s Downtown Revitalization Initiative application reported that Long Island tourism is a 5.9-billion-dollar industry and supports almost 100,000 jobs. Freeport captures a large portion of that money, which fuels job growth and the success of local businesses.

3. Property Taxes

If you’re a New Yorker, this is one downside of Freeport that won’t surprise you. New York has notoriously high property taxes, and Nassau County stands out. Nassau County’s property tax comes in #2 out of all 3,143 counties in the United States—meaning that only one county in the whole country has higher property taxes than we do. The average resident here pays approximately $8,700 every year in property taxes, which is more than double the national average.

High property taxes do have a plus side, and that’s an investment in the local community. Property taxes fund public services and public schools, and the high rate reflects in the high ratings of Nassau County school districts and the first-rate performance of local police and fire departments.

Considering a move to Freeport? Take a look at the homes below—for sale now.