Home Ownership Hold Its Own In Westchester County
WHITE PLAINS, NY (WCBS 880) - In Westchester County, the level of home ownership over the past decade has held steady.
WCBS 880's Catherine Cioffi On The Story
Podcast
According to data from the U.S. Census, 63 percent of residents owned their home last year, and that number has pretty much been the same since 2000.
"We do have more rental activity going on, but it's not at a scale that it can really change the character of the county," says Gil Mercurio, CEO of the Westchester Putnam Association of Realtors. "There's only so many units, so many housing units, and they are what they are. They're either for ownership or they're rentals and what's being built, there's not enough of it to that overall ratio."
Mercurio explains that this is likely because Westchester is an established community with little new development and above average incomes.
"It's been a popular suburb, an important suburb," he says, adding that he doesn't expect that to change.
Putnam County's ownership rate was 85 percent and Rockland County's was 69 percent.
Are you surprised? Let us know below...
