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Hi, I posted something similar in a prior thread but I thought this was interesting data.
Below is updated real estate data from the real estate company, Compass and is based on Year-to-Date median home sales through August 31, 2022 and includes Single Family homes, Condos and Co-ops. Please keep in mind this is based on the data for the respective village (aligning with the respective school district) and intentionally excludes P.O. homes that are not in the respective village.
Median Home Sale - Year-to-Date through Aug. 31 2022
(1) Reported as Bryam Hills
(2) Edgemont is also known as Greenville and is in the town of Greenburgh.
This ranking is especially relevant for Bronxville, NY 10708 addresses and Scarsdale, NY 10583 addresses. For instance, more than 50% of Scarsdale, NY 10583 addresses exist outside of the Village of Scarsdale and are instead in Edgemont, Eastchester, Yonkers, New Rochelle, and Ardsley and are assigned to schools accordingly in Edgemont, Eastchester, Yonkers New Rochelle, and Ardsley respectively. Homebuyers need to be aware that a postal address does not necessarily correspond to the village the home is in / assigned school district.
Last edited by stanfordmba2012; 09-26-2022 at 08:32 PM..
Hi, I posted something similar in a prior thread but I thought this was interesting data.
Below is updated real estate data from the real estate company, Compass and is based on Year-to-Date median home sales through August 31, 2022 and includes Single Family homes, Condos and Co-ops. Please keep in mind this is based on the data for the respective village (aligning with the respective school district) and intentionally excludes P.O. homes that are not in the respective village.
Median Home Sale - Year-to-Date through Aug. 31 2022
(1) Reported as Bryam Hills
(2) Edgemont is also known as Greenville and is in the town of Greenburgh.
This ranking is especially relevant for Bronxville, NY 10708 addresses and Scarsdale, NY 10583 addresses. For instance, more than 50% of Scarsdale, NY 10583 addresses exist outside of the Village of Scarsdale and are instead in Edgemont, Eastchester, Yonkers, New Rochelle, and Ardsley and are assigned to schools accordingly in Edgemont, Eastchester, Yonkers New Rochelle, and Ardsley respectively. Homebuyers need to be aware that a postal address does not necessarily correspond to the village the home is in / assigned school district.
I know you are trying to be helpful, but this is a bit off, and I think makes things more confusing, not less. You have organized your sales data "for the respective village (aligning with the respective school district) and intentionally excludes P.O. homes that are not in the respective village". It is hard to discern what this means or what you are trying to accomplish, and your list does not match this label in any event. For instance, Purchase is a hamlet (neither a village or school district) located either entirely or mostly (I am unsure of which) within the Village of Harrison, and located entirely or mostly (again, I am unsure of which) within the Harrison School District. In short, it is mostly a subset of Harrison. Mamaroneck (assuming you are referring to the Village of Mamaroneck, as your label suggests) is split amongst multiple school districts. Most of the City of Rye is in the Rye School District, but not all. As such, much of what you are providing does not align with a school district, although you label it as such. And keep in mind that I am ignoring the fact that a "village" is a particular type of governmental subdivision, while you seem to be using the term informally and in a ad hoc basis. This makes things more confusing, not less.
If you want to publish median home sales, in my opinion, the most useful way to do so in Westchester County is to organize it by School District and School District only. If you want to provide a separate listing organized by incorporated village, than do so as well, although I think the later would be far less useful because people mostly shop by School District - for good reason, as this shapes your experience as a resident more than Village or Town does, for most people.
I know you are trying to be helpful, but this is a bit off, and I think makes things more confusing, not less. You have organized your sales data "for the respective village (aligning with the respective school district) and intentionally excludes P.O. homes that are not in the respective village". It is hard to discern what this means or what you are trying to accomplish, and your list does not match this label in any event. For instance, Purchase is a hamlet (neither a village or school district) located either entirely or mostly (I am unsure of which) within the Village of Harrison, and located entirely or mostly (again, I am unsure of which) within the Harrison School District. In short, it is mostly a subset of Harrison. Mamaroneck (assuming you are referring to the Village of Mamaroneck, as your label suggests) is split amongst multiple school districts. Most of the City of Rye is in the Rye School District, but not all. As such, much of what you are providing does not align with a school district, although you label it as such. And keep in mind that I am ignoring the fact that a "village" is a particular type of governmental subdivision, while you are seem to be using the term informally and in a ad hoc basis. This makes things more confusing, not less.
If you want to punish median home sales, in my opinion, the most useful way to do so in Westchester County is to organize it by School District and School District only. If you want to provide a separate listing organized by incorporated village, than do so as well, although I think the later would be far less useful because people mostly shop by School District - for good reason, as this shapes your experience as a resident more than Village or Town does, for most people.
Sorry for the confusion. As stated, the data was generated by Compass, a reputable real estate company. I re-checked their methodology and it looks like numbers above are based on the school districts with the exception of Purchase PO (feeds to Harrison) and Larchmont PO (feeds to Mamaroneck).
Scarsdale is the only Westchester town that consistently makes the top 15 wealthiest towns in the USA based on household income. On Bloomberg's wealthiest town ranking from 2020, Scarsdale is #2 in the US. The Bloomberg ranking only takes into account places with at least 2,000 households.
On Business Insider's ranking (which includes all towns and villages regardless of size), Scarsdale is still at a respectable #13 in the US with anaverage household income: $516,371.
Scarsdale is the only Westchester town that consistently makes the top 15 wealthiest towns in the USA based on household income. On Bloomberg's wealthiest town ranking from 2020, Scarsdale is #2 in the US. The Bloomberg ranking only takes into account places with at least 2,000 households.
On Business Insider's ranking (which includes all towns and villages regardless of size), Scarsdale is still at a respectable #13 in the US with an average household income: $516,371.
Doesn't the fact that you get wildly different lists based on whether or not you include towns with under 2,000 households show how arbitrary these lists are? They're also misleading cause some places like Scarsdale have more two-income families than other towns.
But anyway, if your goal is to live in a rich place (for whatever reason -- cause you want prestige, or well funded schools, or network opportunities with other rich people, or to be around large beautiful mansions, or whatever) then this list is still kindof useless cause it doesn't show neighborhoods not on this list that you ought to consider since they hit all those goals even better than the towns on this list. For instance, certain neighborhoods in Rye or Purchase, or neighborhoods in Greenwich (Cos Cob, Belle Haven, Riverside, etc) are far more wealthy than Scarsdale.
Scarsdale’s Murray Hill area / Heathcote estate area is as wealthy (if not wealthier) as any area / neighborhood in Purchase, Rye, etc. You must be unfamiliar with Scarsdale to make a statement like that. Some homes in Scarsdale’s Murray Hill / Heathcote estate area are over 10 million dollars. Scarsdale’s upper end housing stock is comparable to Rye’s. In the last 3 years, Purchase had less than 25 homes that sold for more than $3 million compared to close to 160 homes that sold for more than $3 million in Scarsdale. So, Scarsdale has about 6x more homes that sold in the $3M+ range (in the last 3 years) than does Purchase but Scarsdale is only 3-4 times larger than Purchase based on population and housing units, suggesting that Scarsdale has a larger proportion of homes in the upper range than does Purchase.
Further, Cos Cob, while a nice area, it is one of the more modest sections of Greenwich. Most homes in Cos Cob are between $1-2M. So, I am confused why you would mention Cos Cob in the same sentence as Belle Haven, Scarsdale, Rye, etc.
The fact is that Scarsdale as a whole is more uniformly wealthy than Greenwich, Rye, or Purchase. Rye has many lower income condos, co-ops and multi family homes while Scarsdale does not. Scarsdale has only a few apartment buildings and the rest that show up in Zillow are Scarsdale PO addresses that actually exist in Edgemont, Ardsley, Yonkers, etc and go to different schools, etc. The only thing I will agree with you is that Greenwich’s top 5 percent (tippy top, upper end) is higher than Scarsdale’s mainly due to water views but at the same time, Greenwich’s lower end is lower than Scaradale’s. Greenwich has materially more economic diversity than does Scarsdale.
What is your deal? I don't get the fascination. Go live in Heathcote then. Buy a house in Belle Haven and be done with it. Why all these posts about THE wealthiest area/neighborhood? So much nit-picking. It's so strange.
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Richest Towns Based on Household Income
