Rent, population, and median household income are important factors to consider for a 1031 exchange in Yonkers due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Yonkers, New York is a part of the Southern Westchester Submarket submarket area, and contains 6 zip codes: 10710, 10703, 10705, 10704, 10701, and 10702.
Yonkers Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Yonkers, NY submarket area was $2,155, which is 19.13% higher than 2014 average rent. This represents a compounded annual growth rate of 3.56%. 2019 vacancy in Yonkers, NY was 4.50%.
The total population of the city of Yonkers, NY has grown 2.04% since 2010. As of 2018, the population was 199,663. The median household income of the Yonkers was $62,380, which is 3.46% higher than the national average.
- submarket area Southern Westchester Submarket
- avg rent $2,155
- rent growth 19.13%
- vacancy 4.50%
- median income $62,380
- population (2018) 199,663
- population growth 2.04%
- vs. nat'l avg 3.46%
- zip codes 10701 10702 10703 10704 10705 10710