Housing Prices Now Rivaling NYC

Westchester and Rockland County communities have long drawn NYC buyers looking for the larger spaces and better prices of suburban living, but PropertyShark’s newest report has found that a decade of surging prices in the suburbs has flipped that dynamic. Median sale prices across NYC’s 13-county suburban ring jumped 86% since 2016, double NYC’s gains, with both Westchester and Rockland County part of that shift. 

This explosive appreciation has effectively wiped out entry-level markets: Today, no communities in Westchester or Rockland are priced under $400K. One in three sales have crossed the one million dollar mark, which is up from one in ten in 2016.  In fact, 29% of markets in this part of the Lower Hudson Valley now sit between $500K and $750K. Meanwhile, more than one in three suburbs in this area crossed the $1M mark — up from roughly one in ten in 2016. 

Among the most dramatic pricing shifts, Spring Valley homeowners’ access surged from 47 NYC neighborhoods to 143 over the past decade. 

White Plains buyers now reach 168 NYC neighborhoods, up from 160 in 2016, gaining access to places like Yorkville and College Point. 

Even on the region’s lower pricing range buying power increased compared to the city: West Haverstraw residents’ buying power now reaches 29 NYC neighborhoods, compared to just nine in 2016. 

This issue has become an increasingly stressful one for seniors and young people looking to live close to where they grew up.