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Yonkers real estate market overview
- Average Monthly Rent: $2,355
- Home Price/Value Percentage Change: 2.10%
- Median Home Value: $599,520
- Best Time To Sell a Home: August
- Affordability Index: Low
- Days To Sell a House: 162
- 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 here has decreased by -6.31% over the last year and in ten years, is predicted to have increased by 25.52%. Major industries here include health care and assistance, educational services and retail trade. The highest paying industries are Public Administration, Information, and Utilities. Some of the biggest companies here are Yonkers Contracting, Leake and Watts Services Inc, St. John's Riverside Hospital, A & A and ANDRUS.
The cost of living here is higher than the national average, and housing remains the biggest contributor to its cost. This means Yonkers is a fairly expensive place to live. Despite its higher cost of living, Yonkers has much to offer its residents. Due to its scenic-city appeal, water-front views and strong employment opportunities, it will continue to appeal to those hoping to live in New York.
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 $2,355 for an average apartment size of 810 sq. feet.
There has been a 2.1% increase in the median home value over the last year. As of 2023, the median home value is $599,520.
On average, homes in Yonkers sell after 162 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 143. This number indicates low affordability in this city.
The top ranked public schools are Saunders Trades & Technical High School, Yonkers High School, Roosevelt High School Early College Studies and Lincoln High School. This information derives from data measuring academic performance and equity.