Yonkers Rent Report: May 2024

Welcome to the Apartment List May 2024 Rent Report for Yonkers, NY. Currently, the overall median rent in the city stands at $1,939, roughly the same as last month. Prices are now down 1.5% year-over-year. Read on to learn more about what’s been happening in the Yonkers rental market and how it compares to trends throughout the broader New York metro area and the nation as a whole.

Yonkers rents are flat month-over-month and down 1.5% year-over-year

The median rent in Yonkers fell by 0.1% over the course of April, and has now decreased by a total of 1.5% over the past 12 months. Yonkers’s rent growth over the past year has has fallen behind the state average (0.2%) and is similar to the national average (-0.8%).

Yonkers rent growth in 2024 pacing similar last year

Four months into the year, rents in Yonkers have risen 5.0%. This is a similar rate of growth compared to what the city was experiencing at this point last year: from January to April 2023 rents had increased 5.0%.

April rent growth in Yonkers ranked #87 among large U.S. cities

Yonkers rents went down 0.1% in the past month, compared to the national rate of 0.5%. Among the nation's 100 largest cities, this ranks #87. Similar monthly rent growth took place in Memphis, TN (0.0%) and Garland, TX (-0.1%).

Yonkers is the #18 most expensive large city in the U.S., with a median rent of $1,939

Citywide, the median rent currently stands at $1,719 for a 1-bedroom apartment and $2,086 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $1,939. That ranks #18 in the nation, among the country's 100 largest cities.

For comparison, the median rent across the nation as a whole is $1,226 for a 1-bedroom, $1,381 for a 2-bedroom, and $1,396 overall. The median rent in Yonkers is 38.9% higher than the national, and is similar to the prices you would find in Oakland, CA ($1,966) and Miami, FL ($1,923).

Yonkers rents are 11.6% lower than the metro-wide median

If we expand our view to the wider New York metro area, the median rent is $2,194 meaning that the median price in Yonkers ($1,939) is 11.6% lower than the price across the metro as a whole. Metro-wide annual rent growth stands at 0.9%, above the rate of rent growth within just the city.

The table below shows the latest rent stats for 11 cities in the New York metro area that are included in our database. Among them, Hoboken is currently the most expensive, with a median rent of $3,451. New Brunswick is the metro’s most affordable city, with a median rent of $1,866. The metro's fastest annual rent growth is occurring in Fort Lee (10.5%) while the slowest is in New Brunswick (-3.2%).

You can also use the map below to explore the latest rent trends in the New York metropolitan area.