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Yonkers real estate market overview
- Average Monthly Rent: $2,227
- Home Price/Value Percentage Change: 2.1%
- Median Home Value: $595,441
- Best Time To Sell a Home: August
- Affordability Index: 147
- Days To Sell a House: 185
- Job Market: Weak
- Public School Ranking: 17
Location and weather
Yonkers is New York's fourth largest city and the largest city in Westchester County. Located along the Hudson River, Yonkers has proven to be a more affordable residential and commercial area to live in when compared to other cities in New York. Yonkers has a growing downtown that now includes luxury high rides and apartments that are near the Hudson River, 5-star restaurants, parks, local shops, and is only a 25-minute train ride to midtown Manhattan. Along with close proximity to popular near-by cities, Yonkers also offers great education, low crime rates, historic neighbourhoods, and luxury waterfront living.
Yonkers gets around 28 inches of snow per year during the winter months, which are cold and wet. Summers are humid and warm, reaching highs in the mid-90s.
Population, job market and cost of living
Yonkers has a population of 216,246, with a growth rate of 0.73% annually.
The job market has decreased by -6.71% over the last year. In ten years, job growth is predicted to be 25.52%. Yonkers has a large range of employment opportunities, with success in retail centers, health care, and education. Some of the largest retail centers here include the Central Park Avenue corridor, Ridge Hill Shopping complex, and Cross County Shopping Center. There are also two hospitals and 40 public schools located around the area, which contribute to the large employment in health care and education.
Yonkers is an expensive city to live in, with higher housing costs than New York's overall average housing costs.
Yonkers real estate market details
- Park Hill
- Dunwoodie
- Beech Hill
- Getty Square
- Northwest Yonkers
- Southeast Yonkers
- Cedar Knolls
The average monthly rent in Yonkers is $2,227 for an average apartment size of 806 sq. feet.
There has been a 2.1% increase in the median home value over the last year. As of 2022, the median home value is $595,441.
On average, homes in Yonkers sell after 185 days on the market.
The best time to sell a home in Yonkers for the highest value is August. The best time to sell a home quickly is also August.
The affordability index in Yonkers is 147. This number indicates low affordability in this city.
The top ranked public schools are Montessori School 27, Charter School of Educational Excellence, Patricia A Dichiaro School, Saunders Trades and Technical High School, Yonkers High School. This information derives from data measuring academic performance and equity.