Airbnb Rules and Regulations in Yonkers, New York

As of 2024, Yonkers, New York, has implemented comprehensive rules and regulations governing short-term rental properties. Hosts are required to obtain a permit from the city's Department of Housing and Buildings before listing their property on any short-term rental platform. The permit application process involves submitting proof of ownership, liability insurance, and compliance with safety standards. Additionally, hosts must collect and remit the applicable occupancy tax to the city on a quarterly basis.

Short-term rentals are limited to a maximum of 90 days per calendar year, and hosts must reside in the property for at least 275 days annually. The city also mandates that hosts provide guests with a copy of the building's fire safety plan and emergency contact information. Failure to comply with these regulations may result in fines and the revocation of the short-term rental permit. By adhering to these rules, hosts can ensure a safe and legal Airbnb experience for themselves and their guests while contributing to the responsible growth of the short-term rental market in Yonkers.

Yonkers Airbnb Market Data:

• Average Revenue – $32.6K per year
• Average Daily Rate – $151.4 per night
• Average Occupancy Rate – 59%
• Average RevPAR – $89.9
• Average Home Prices – $625,141

1. Top Place to Invest in Yonkers, New York - Bryn Mawr Park

Nestled in the heart of Yonkers, Bryn Mawr Park is a hidden gem that offers a perfect blend of urban convenience and suburban charm. This tight-knit community boasts diverse housing options, a thriving local economy, and easy access to the best that Yonkers and New York City offer. The neighborhood's unique character is shaped by its mix of well-maintained older homes, ranging from cozy apartments to spacious single-family residences, creating an inviting atmosphere for both long-term residents and short-term visitors alike.

Bryn Mawr Park Airbnb Market Data:

• Average Revenue – $32.2K per year
• Average Daily Rate – $169.9 per night
• Average Occupancy Rate – 52%
• Average RevPAR – $87.3

Convenience - 8/10

One of Bryn Mawr Park's greatest strengths is its exceptional convenience. Strategically located near major highways like the Saw Mill River Parkway and I-87, the neighborhood offers seamless access to the rest of Yonkers, Westchester County, and New York City. Commuters appreciate the proximity to public transportation, with both the Harlem and Hudson Metro-North lines easily accessible.

Tourist Attractions - 5/10

While Bryn Mawr Park itself may not be a primary tourist destination, its location in Yonkers puts it within reach of various attractions. The Hudson River Museum, with its engaging exhibits and planetarium, is just a short drive away. Visitors can also explore the nearby Ridge Hill shopping complex, LEGOLAND Discovery Center, and the unique experience of indoor skydiving.

Things to Do - 6/10

Bryn Mawr Park offers a range of local amenities and activities for residents and visitors. The neighborhood is dotted with corner stores and independent shops, providing convenient access to essentials. Bryn Mawr Park itself is a green oasis where residents can unwind and connect with nature. The community also enjoys proximity to the many events and happenings in the vibrant city of Yonkers.

Average Home Prices - 7/10

According to Zillow, as of 2024, the typical home value in Bryn Mawr Park stands at $655,443. This represents a solid appreciation of 6.2% over the past year, slightly outpacing the overall Yonkers market. The neighborhood's diverse housing stock, ranging from affordable apartments to stately single-family homes, caters to a variety of budgets and preferences, making it an attractive option for short-term investors.

Proximity to Work-Related Travel - 7/10

Bryn Mawr Park's location in Yonkers provides convenient access to major employment centers, hospitals, and convention venues. The neighborhood's proximity to highways and public transportation facilitates easy travel to destinations like St. John's Riverside Hospital and St. Joseph's Medical Center. The nearby Cross County Center and Ridge Hill also offer business and work-related stay potential.

X-Factor - 8/10

Its strong sense of community and neighborhood character sets Bryn Mawr Park apart. With one of the lowest vacancy rates in the country, the area boasts a stable and engaged resident population. The neighborhood's diverse mix of ethnicities and ancestries contributes to a rich cultural tapestry, evident in the local businesses and community events. This unique blend of urban convenience and tight-knit community makes Bryn Mawr Park a hidden gem for investors seeking an authentic and vibrant neighborhood experience.

2. Top Place to Invest in Yonkers, New York - Alexander Smith Carpet Mills Historic District

Spanning 38 acres, the Alexander Smith Carpet Mills Historic District encompasses 19 diverse mill buildings and six rows of workers' housing. This former carpet manufacturing complex has been revitalized into a dynamic mix of artist studios, galleries, workshops, and businesses, creating a distinctive atmosphere that appeals to both residents and visitors alike.

Alexander Smith Carpet Mills Historic District Airbnb Market Data:

• Average Revenue – $31.2K per year
• Average Daily Rate – $135.8 per night
• Average Occupancy Rate – 63%
• Average RevPAR – $87

Convenience - 8/10

One of the district's greatest strengths is its convenient location. Situated just 15 miles north of Midtown Manhattan, it offers easy access to New York City via major highways and public transportation. The nearby Yonkers train station provides a direct connection to Grand Central Terminal, making it an ideal base for exploring the city and beyond.

Tourist Attractions - 6/10

While the historic district may not be a primary tourist destination, it offers a unique experience for visitors interested in the arts and industrial heritage. The YoHo Artist Studios and Yonkers Arts Gallery showcase the work of local artists, while the architectural charm of the repurposed mill buildings provides a fascinating glimpse into the area's past.

Things to Do - 7/10

The Alexander Smith Carpet Mills Historic District hosts a growing number of local cultural events and activities. The annual Yonkers Arts Weekend attracts thousands of visitors to explore open studios, exhibitions, and performances. The district's galleries, workshops, and creative businesses also offer year-round opportunities for engagement and exploration.

Average Home Prices - 7/10

As of March 2024, the median home price in Yonkers was $476,982, with a 7.5% appreciation rate compared to the previous year. While specific data for the historic district is limited, the area's unique character and growing popularity suggest strong potential for investment. The diverse range of properties, from lofts to historic homes, caters to various budgets and preferences.

Proximity to Work-Related Travel - 8/10

The district's strategic location makes it convenient for work-related travel. It is close to major hospitals, such as St. John's Riverside Hospital and St. Joseph's Medical Center. The nearby Yonkers Raceway and Empire City Casino also provide potential for business and entertainment-related stays.

X-Factor - 9/10

What sets the Alexander Smith Carpet Mills Historic District apart is its distinctive blend of history, arts, and community. The repurposed industrial buildings create a unique and inspiring atmosphere that appeals to creatives and entrepreneurs. The district's ongoing transformation into a cultural hub, supported by city initiatives and zoning changes, positions it as an area with significant growth potential.

3. Top Place to Invest in Yonkers, New York - Northeast

Nestled along the picturesque Hudson River, Northeast Yonkers is a hidden gem that offers a perfect blend of urban convenience and suburban charm. This vibrant neighborhood boasts diverse housing options, a thriving local economy, and easy access to the best that Yonkers and New York City offer.

Northeast Airbnb Market Data:

• Average Revenue – $K per year
• Average Daily Rate – $204.4 per night
• Average Occupancy Rate – 47.7%
• Average RevPAR – $132.5

Convenience - 8/10

One of Northeast Yonkers' greatest strengths is its exceptional convenience. Strategically located near major highways like the Saw Mill River Parkway and I-87, the neighborhood offers seamless access to the rest of Yonkers, Westchester County, and New York City. Commuters appreciate the proximity to public transportation, with the Harlem and Hudson Metro-North lines providing easy connections to Manhattan.

Tourist Attractions - 5/10

While Northeast Yonkers itself may not be a primary tourist destination, its location puts it within reach of various attractions. The nearby Hudson River Museum offers engaging exhibits and a planetarium, while the Ridge Hill shopping complex and LEGOLAND Discovery Center provide entertainment options for visitors of all ages.

Things to Do - 6/10

Northeast Yonkers offers a range of local amenities and activities for residents and visitors. The neighborhood is dotted with corner stores, convenience shops, and independent businesses, providing easy access to essentials. Parks and green spaces, such as Tibbetts Brook Park, offer opportunities for outdoor recreation and relaxation.

Average Home Prices - 7/10

As of March 2024, the median home sold price in Northeast Yonkers was $345,000, representing an 18.9% decrease compared to the previous year. However, this dip in prices presents a unique opportunity for investors to capitalize on the neighborhood's potential. The diverse housing stock, ranging from affordable apartments to spacious single-family homes, caters to various budgets and investment strategies.

Proximity to Work-Related Travel - 7/10

Northeast Yonkers' strategic location makes it convenient for work-related travel. The neighborhood is close to major hospitals, such as St. John's Riverside Hospital and St. Joseph's Medical Center. The nearby Cross County Center and Ridge Hill also offer potential for business and work-related stays.

X-Factor - 8/10

What sets Northeast Yonkers apart is its strong sense of community and neighborhood character. The area fosters a welcoming atmosphere, with active community organizations and regular events that bring residents together. The neighborhood's diverse population contributes to a rich cultural tapestry, evident in the local businesses and community gatherings.

4. Top Place to Invest in Yonkers, New York - Southeast

Southeast Yonkers is a vibrant and diverse neighborhood that seamlessly blends urban convenience with a strong sense of community. This historic area offers a compelling mix of affordable housing, easy access to transportation, and a rich tapestry of cultural influences, making it an attractive option for Airbnb and short-term rental investors.

Southeast Airbnb Market Data:

• Average Revenue – 40.8 $K per year
• Average Daily Rate – $174.6 per night
• Average Occupancy Rate – 63%
• Average RevPAR – $112

Convenience - 8/10

One of Southeast Yonkers' greatest strengths is its exceptional convenience. The neighborhood's proximity to the Bronx and New York City and its easy access to public transportation make it an ideal location for commuters. The nearby Cross County Shopping Center provides ample shopping and dining options, while the neighborhood's walkable streets and local businesses offer everyday essentials within reach.

Tourist Attractions - 6/10

While Southeast Yonkers may not be a primary tourist destination, it does offer a few notable attractions. Yonkers Raceway, a historic harness racing track and casino, draws visitors from across the region. St. Joseph's Seminary, which has hosted papal visits, is another point of interest. The neighborhood's proximity to the Hudson River and various parks also provides opportunities for outdoor recreation.

Things to Do - 7/10

Southeast Yonkers offers a range of activities and experiences for residents and visitors alike. The neighborhood's strong Irish and Italian communities are celebrated through festivals, parades, and cultural events. Foodies will appreciate the authentic cuisine found along McLean Avenue's "Irish Mile" and Midland Avenue's "Little Italy". Parks like Tibbetts Brook Park provide green spaces for sports, picnics, and relaxation.

Average Home Prices - 8/10

As of 2024, the median home sold price in Yonkers was $476,982, representing a 7.5% increase from the previous year. Southeast Yonkers, with its diverse housing stock, offers a range of affordable options for investors. Many multi-family homesand apartments in the neighborhood are priced below the city's median, presenting opportunities for strong rental yields.

Proximity to Work-Related Travel - 7/10

Southeast Yonkers' location makes it convenient for work-related travel. The neighborhood is close to major hospitals, such as St. John's Riverside Hospital and St. Joseph's Medical Center. The nearby Cross County Shopping Center and Ridge Hill also offer potential for business and work-related stays. Easy access to public transportation and highways connects Southeast Yonkers to key employment centers in the region.

X-Factor - 8/10

What sets Southeast Yonkers apart is its rich cultural heritage and strong sense of community. The neighborhood's Irish and Italian influences create a unique and vibrant atmosphere, evident in its local businesses, restaurants, and community events. This authentic character, combined with the area's affordability and convenience, makes Southeast Yonkers a hidden gem for investors seeking a neighborhood with a distinct identity and untapped potential.

5. Top Place to Invest in Yonkers, New York - Ludlow

Nestled along the Hudson River, Ludlow is a hidden gem in Yonkers that offers a unique blend of urban convenience and historic charm. With its diverse housing options, convenient location, and growing potential, this neighborhood presents an attractive opportunity for those aspiring to start an Airbnb business.

Ludlow Airbnb Market Data:

• Average Revenue – $26.1K per year
• Average Daily Rate – $113.5 per night
• Average Occupancy Rate – 63%
• Average RevPAR – $72

Convenience - 7/10

One of Ludlow's strengths is its convenient location. Situated just north of Manhattan, the neighborhood offers easy access to the city via major highways and public transportation. The nearby Ludlow Metro-North station provides a direct connection to Grand Central Terminal, making it an ideal base for exploring the region.

Tourist Attractions - 5/10

While Ludlow itself may not be a primary tourist destination, its location in Yonkers puts it within reach of various attractions. The Hudson River Museum, with its engaging exhibits and planetarium, is just a short drive away. The neighborhood's proximity to parks and the riverfront also provides opportunities for outdoor recreation and scenic views.

Things to Do - 6/10

Ludlow offers a range of local amenities and activities for residents and visitors. The neighborhood's diverse community is reflected in its local businesses, restaurants, and cultural event. Parks like the JFK Marina and Park provide green spaces for relaxation and enjoying stunning views of the Hudson River

Average Home Prices - 8/10

As of March 2024, the median home price in Ludlow is $365,104, which is less expensive than 69.3% of New York neighborhoods and 51.2% of all U.S. neighborhoods. This affordability, combined with the neighborhood's convenient location and potential for growth, makes it an attractive option for investors. The average rental price in Ludlow is currently $2,685, lower than 55.5% of New York neighborhoods.

Proximity to Work-Related Travel - 7/10

Ludlow's location in Yonkers provides convenient access to major employment centers, hospitals, and other work-related destinations. The neighborhood's proximity to highways and public transportation facilitates easy travel to nearby medical centers and business districts. The area's strategic position makes it an appealing choice for professionals and business travelers.

X-Factor - 8/10

What sets Ludlow apart is its unique blend of history, diversity, and potential. The neighborhood's architectural heritage, evident in its mix of historic homes and buildings, creates a distinctive character. Ludlow's diverse population contributes to a vibrant and inclusive community atmosphere. Moreover, the area's affordability and growing appeal position it as a neighborhood with untapped potential for investment and growth.