Loading Content...
Ardsley: Rising Home Values and Stable Ownership in a New York Suburban Community
CATEGORY
Property Value
DATA
Percent Owner Occupied
Housing Prices
Median Rent
Population
Loading Content...
Property Value
Percent Owner Occupied
Housing Prices
Median Rent
Population
Ardsley, located in New York, is a small but vibrant community with a population of 5,013 as of 2022. This charming village has seen steady growth over the years, with its population density increasing from 3,323 people per square mile in 2010 to 3,794 in 2022. Ardsley has maintained a high rate of homeownership, consistently above 80%, while average home prices and average rent prices have shown an upward trend over the past decade.
The homeownership rate in Ardsley has remained relatively stable, fluctuating between 80% and 83% from 2013 to 2022. During this period, average home prices experienced significant growth. In 2013, the average home price was $585,789, which increased to $836,506 by 2022, representing a 42.8% increase over nine years. This trend suggests that despite rising home prices, Ardsley residents have maintained their ability to own homes, possibly due to strong local economic conditions or a preference for homeownership in the community.
Federal interest rates have played a role in homeownership trends in Ardsley. From 2013 to 2016, when interest rates were at historic lows (ranging from 0.09% to 0.40%), the homeownership rate remained high at 81-83%. As interest rates began to rise in 2017 (1.00%) and 2018 (1.83%), there was a slight decrease in homeownership to 81% in 2019. However, the impact seems limited, as the rate stabilized at 80% from 2020 to 2022, even as interest rates fluctuated.
Renter percentages in Ardsley have remained relatively low, ranging from 17% to 20% between 2013 and 2022. Average rent prices have shown an overall upward trend during this period. In 2013, the average rent was $1,908, which increased to $2,492 by 2022, representing a 30.6% increase. The renter population has grown slightly, from 17% in 2013 to 20% in 2022, possibly due to the village's increasing population and the rising cost of homeownership.
In 2023 and 2024, Ardsley continued to see growth in average home prices. The average home price reached $854,582 in 2023 and further increased to $874,401 in 2024, representing a 2.3% and 4.5% increase from 2022, respectively. This growth occurred despite rising federal interest rates, which reached 5.02% in 2023 and 5.33% in 2024, suggesting a strong local housing market resilient to higher borrowing costs.
Looking ahead, predictive models suggest that average home prices in Ardsley may continue to rise over the next five years, potentially reaching around $950,000 by 2029. This projection is based on the historical growth rate and assumes continued economic stability. Average rent prices are also expected to increase, potentially surpassing $2,800 by 2029, following the trend of rising housing costs in the area.
In summary, Ardsley has maintained a high rate of homeownership despite rising average home prices. The community has shown resilience to fluctuating interest rates, with only minor changes in the homeownership rate. Renter percentages have increased slightly, along with rising average rent prices, reflecting the overall growth in the village's population and housing market. The continued increase in both average home prices and average rent prices suggests a strong demand for housing in Ardsley, likely driven by its desirable location and community amenities.
