Co-own real estate report: Hudson Valley, New York

National Geographic has named this area a Top 20 must-see destination in the world. Lonely Planet describes the area as “a real city break, with leafy drives, wineries and plenty of farm-to-table foodie options.” What area are we talking about? If you guessed Hudson Valley, New York, you’re right.

The area offers charming small towns with big offerings, including breathtaking natural beauty, gardens, orchards, vineyards, food festivals, fall foliage, picturesque farms and so much more. All this and more makes it the perfect escape from the hustle and bustle of New York City.

The Hudson River Valley is only a 45-minute drive from the busy streets of midtown New York City but it couldn’t be more different. The Hudson River Valley extends nearly 150 miles from Yonkers in Westchester County to the state capital of Albany. The area is a beacon of tranquility, culture and history.  

What makes Hudson Valley attractive for co-owning

The Hudson Valley is a region ripe for tourism. Millions of tourists visit the Hudson Valley each year for its attractions with some sources saying upwards of 25 million people visit per year, pouring an estimated $4.4 billion into the region each year. This is third in New York only to New York City and Long Island.

It is this that continues to make the Hudson Valley one of the hottest housing markets in the nation. According to the National Association of Realtors, millennials make up 37% of potential homebuyers in the area.

• 25.2% increase in median home sale price year over year 📈
• $499,500 median home sale price 🏠

Short-term rentals in Hudson Valley

Hudson Valley’s short-term rental statistics include:

• 63% occupancy rate on Airbnb
• $3,900 /month average revenue on Airbnb
• $279 average daily rate
• 84% of listings are on Airbnb, 6% on Vrbo and 10% listed on both
• 81% are entire home rentals

Over the last few years, the Hudson Valley has become an increasingly popular short-term rental (STR) market. Regulations and requirements vary by city, so please check the specific city for further information.

What to see in Hudson Valley

Hudson’s Warren Street

Hudson’s Warren Street is a dream for shoppers. You won’t find any big box or chain stores. Rather, you will find scores of antique and vintage stores, chic boutiques and botanical shops. Be sure to walk to the end of Warren Street just before sunset to watch the sun dip below the mountains.

Cohoes Falls, Fall Views Park, Hudson Valley

With four acres of falls, rivers and walking trails, Fall Views Park is a naturally stunning vista where you can easily spend a few hours. Cohoes Falls is a short drive north of Albany and is easily one of the most impressive waterfalls in New York. The waterfall spans the entire 1,000-foot length of the river and drops as much as 90 feet in height.

Walkway Over the Hudson

The Walkway Over the Hudson State Historic Park is the world's longest elevated pedestrian bridge, spanning 1.28 miles over the Hudson River in upstate New York. The park provides access to the Hudson River’s breathtaking landscape for pedestrians, hikers, joggers, bicyclists and more.

Hudson Valley

Nearby cities

• New York – 2 hours
• Boston – 3.5 hours
  
  

Hudson Valley cobuy opportunities

9 Amsterdam Rd., Clarkstown, NY 10956

Asking price: $699,900

Estimated down payment: $139,980

Estimated mortgage: $4,038/month

Estimated Airbnb revenue: $2,136/month

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350 Roberts Ave, Yonkers, NY 10703

Asking price: $649,000

Estimated down payment: $129,800

Estimated mortgage: $3,745/month

Estimated Airbnb revenue: $3,424/month

465 Martling Ave, Tarrytown, NY 10591

Asking price: $649,000

Estimated down payment: $129,800

Estimated mortgage: $3,745/month

Estimated Airbnb revenue: $4,761/month

Sources:

Hudson Valley, New York Airbnb short-term rental data

Hudson Valley Airbnb calculator

Nestment, Inc. does not guarantee and is in no way responsible for the accuracy of information provided in this blog post. All information is provided “AS IS” and with all faults. Data presented here may not reflect all real estate activity in the market.  While the information on this site is about legal and tax issues, it is not intended as legal or tax advice or as a substitute for the particularized advice of your own attorney and tax professional.