Zillow puts Yonkers’s current typical city home value at $702,854 and typical observed monthly market rent at $2,754. Annualizing that rent against value gives a 4.7% gross yield before taxes, insurance, maintenance, vacancy, management, financing, or transaction costs. Relative to ACS median household income, value is 8.4x income and annual Zillow rent is 39.6% of income, signaling a demanding affordability frame without establishing what a specific buyer or tenant can afford.
Yonkers has 85,006 housing units; 53.8% of occupied units were renter-occupied, while the citywide vacancy rate was 4.0%. ACS reports occupied-housing survey measures: a $501,600 median home value and $1,784 median gross rent, which includes contract rent plus selected utilities. Those measures differ in concept and period from Zillow’s typical home value and typical observed market rent, so the sets should not be averaged or interpreted as a spread.
Citywide, 54.5% of renter households meet the ACS burden threshold, while single-family homes are 29.0% and units in large multifamily structures are 38.1% of housing units. Of vacant units, 30.3% were categorized as for rent; that survey share does not measure currently available investment inventory or prove quick leasing. The ACS population estimate moved from 199,968 to 209,978, a 5.0% change between overlapping five-year vintages; it is not annualized and may reflect boundary changes. Median household income was $83,549, while 7.1% unemployment and 13.8% poverty are descriptive demand constraints, not causes or tenant-level outcomes.
At the county scope, Westchester County’s property-tax rate is 1.508%; this is carrying-cost context, not a Yonkers measurement. At the metro scope, the broader New York metro had 0.06% year-over-year job growth, signaling nearly flat labor momentum without showing city demand. The broader New York metro also recorded 58,152 building permits in the supplied reporting period, a pipeline count that does not establish city absorption. At the national scope, the 30-year mortgage rate was 6.58%, a financing benchmark rather than a city borrowing quote.
The main underwriting limitation is that every citywide figure aggregates diverse properties and periods; none supplies a property’s condition, legal rents, lease terms, expenses, taxes, insurance, financing, or achievable rent. Before acting, verify parcel tax bills and assessments, title and zoning, allowed unit count, rent regulation and tenant status, leases and arrears, utility responsibility, building systems, deferred maintenance, insurance and flood terms, comparable property rents and sales, and vacancy and repair reserves. Recalculate cash flow under actual loan terms and test downside assumptions rather than relying on the citywide gross yield.