Quogue Named as a Most Expensive Small Town

With a median home value of $1,575,400, Quogue has earned a spot on Bloomberg Businessweek's Priciest Small Town in America, list.

Businessweek reports that Quogue median is up .1 percent from the previous year. Forbes Magazine ranks Quogue as the 53rd most expensive ZIP code in the nation.

Median home value in Quogue peaked in 2006 at $2 million, according to Zillow.com, which collaborated with BusinessWeek to design its ranking. Only places with populations of less than 10,000 were evaluated. Businessweek said Quogue's population is just 285.

Water Mill made the list at No. 4 with a median home value at $2.1 million. East Hampton at No. 14 and Sagaponick came in No. 1 with an astonishing median home value of $3.5.

Read more at businessweek.com.