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Business
on the money

Nantucket plagued with price hikes and partiers as New Yorkers invade

By
Lydia Moynihan
Published Aug. 24, 2023
Updated Aug. 24, 2023, 3:27 p.m. ET

Residents of Nantucket are fed up with the skyrocketing prices on their island oasis – and they are blaming the influx of New Yorkers for ruining their once-hard-to-reach patch of paradise, several homeowners told On The Money. 

The 48–square-mile island off the coast of Massachusetts has gained in popularity with Gothamites looking to escape paying the $30 for guacamole and $100 for lobster salad charged in the Hamptons.

However, their arrival has turned the former sleepy town into reportedly the costliest beach destination in the world filled with rowdy summer partiers – to the chagrin of the locals.

“We don’t need the New Yorkers out here trying to Hamptonize this place,” one Nantucket homeowner complained. “They should focus on further ruining the Hamptons.”

Another Nantucket homeowner said she prefers to avoid the summer mayhem altogether and now only visits in the off-season.

“I prefer to go in the fall once the summer vacations and rowdy college kids have left,” she told On The Money. “Reservations aren’t easy to get and there are lines at all the bars.” 

Nantucket illustration
One fed-up local remarked that New Yorkers “should focus on further ruining the Hamptons.” Donna Grace

Nantucket residents bemoan the increasing number of direct flights from New York from major carriers including JetBlue, United, Delta and American, which have made it accessible to get from New York to the quaint island for around $150 roundtrip. 

Since 2018, when JetBlue began regular flights, the situation has gotten dire and the island has been overwhelmed, locals complain.

“It’s too accessible for New Yorkers who drive up prices,” the first homeowner railed. 

The cheap airfare, however, is about the only bargain summer visitors will find on the island, which has just 31 hotels, according to a 2023 visitor guide from the Massachusetts Office of Travel and Tourism.

This dearth of lodging has pushed Nantucket’s hotel prices to the highest in the world, surpassing more posh locales along the Amalfi Coast, the French Riviera and the East End of Long Island.

The average cost of a hotel room in the summer on Nantucket is $694 per night, according to a recent study by TravelMag.com.

Positano, Italy, came in second at $481 per night, followed by Montauk at $478 and Saint-Tropez at $440, the magazine reported.

The rest of the top 10 list includes  Kennebunkport, Maine ($406), Provincetown, Mass, ($404), Capri, Italy ($399), Bar Harbor, Maine ($384); Monaco ($381) and Santa Monica, Calif. ($360).

Interestingly, Biden’s favorite summer spot, Rehoboth Beach, Del. came in 11th at $359 per night — in front of two other summer favorites: Ibiza, Spain at $310 and Amalfi, Italy at $295. 

To be sure, some have questioned the methodology of the survey — saying it doesn’t accurately capture the true cost of a trip since it only considers the cost of a hotel. 

“While the article claims to be ranking the most expensive beach destinations in the world, it only considers the average cost of the cheapest double room at a three-star or better hotel with at least 10 rooms during August.” wrote the Nantucket Currant.