Located in Westchester County, New York, New Rochelle is a bustling city with a lot to offer. The Queen City of Sound is a vibrant and diverse town with hundreds of green spaces, welcoming communities, and a wide range of shopping and dining options. The housing options are also immense, ranging from villas and mansions to luxury condos and single-family units. If you are looking to venture into real estate or diversify your current portfolio, here are five reasons you should consider buying a home in New Rochelle.
Proximity to New York City
New Rochelle is located 16 miles north of New York City. This location is more than strategic; it is also convenient. As exploring the town with New Rochelle NY real estate agent Esti Winkler will reveal, residents of New Rochelle enjoy unique economic and cultural opportunities only people close to the Big Apple can access. It features one of the highest median household incomes in Westchester County, which itself is ranked highly in the country. The town itself is no slouch. New Rochelle has a relaxed but vibrant suburban lifestyle with many local festivals, events, and a rich cultural history.
Competitive Real Estate Market
The New Rochelle real estate market is also highly competitive, making it a ripe investment. The median home value in the town in September 2023 was $675,000, a 12 percent increase from the previous year. At this time, the average home price was $1.14 million, although this number was affected by the price of two private islands on sale at the time. Homes in New Rochelle tend to spend a week or less on the market. Apartments tend to rent for about $1,500 a month.
Several Investment Options
The investment options in New Rochelle, especially in the city’s downtown area. You can purchase a single-family home or invest in the more rent-friendly condos and studio apartments in the area. Among other buildings, downtown New Rochelle is home to a 28-story building called 360 Huguenot which comprises 280 units ranging from studio apartments to two-bedroom units. Condos are somewhat rare in downtown New Rochelle, but Watermark Pointe is a prime example of the available opportunities. The nine-building complex features 72 prime units that you can buy to live in or rent.
Wide Variety of Neighborhoods
The variety in New Rochelle also means you can plan your investment depending on the type of vibe and environment you would like for your new home. Many of the neighborhoods in the city date back to the turn of the 20th century and, due to common reinforcements in recent years, may look homogenous. However, variety is relatively easy to find in New Rochelle. The neighborhoods of Beechmont, Forest Heights, Paine Heights, and Wykagyl Park from a string of communities with some of the highest price points. Homes here are built in 19th-century styles like colonial-revival, Mediterranean, and Tudor.
Explore New Rochelle with Real Estate Expert Esti Winkler
New Rochelle has a lot to offer both aspiring homeowners and investors. If you are ready to look at homes for sale in New Rochelle, contact local real estate expert Esti Winkler. Elizabeth “Esti” Winkler has personally handled sales and purchases amounting to over $90 million. Her magnificent track record, commitment to her clients, and unmatched knowledge of the local market make her an invaluable partner in your home search. Contact her office today to get started.