When thinking of the Bronx, many often picture affordable rental housing, but recent market trends reveal two distinct faces within the area.

Located at the northwestern tip of the Bronx, Riverdale stands apart from the overall average of the Bronx. Nestled on a hillside facing the Hudson River, it offers stunning views and is about a 20-minute commute to Manhattan via Metro-North. The median home price in Riverdale is approximately between $700,000 and $900,000.

Within this area, Fieldston is considered a step above. This private enclave, surrounded by private roads and gates, features large homes built in the early 20th century and is registered as a historic district by New York City. The median home price according to Zillow and Realtor.com is reported to exceed $1.3 million.

Spuyten Duyvil is also recognized as an affluent neighborhood within the Riverdale area. Situated on a cliff where the Hudson and Harlem Rivers meet, it boasts many river-view apartments and condos, with the median price for condos ranging from $600,000 to $800,000.

The emergence of these neighborhoods as affluent areas appears to be influenced by the rare low-density development regulations within New York City. Long-standing zoning focused on large parcels has limited new supply, and the presence of prestigious private schools like Riverdale Country School and excellent public school districts has supported demand.

The overall median home price in the Bronx is around $450,000, highlighting a nearly threefold gap compared to Fieldston. The significant price differences within neighborhoods in the same borough are noteworthy.

While the area does not have a high concentration of Korean households, some Korean professional families commuting to Manhattan consider Riverdale as an alternative for its quiet residential environment and school districts. The ability to reduce commute times while maintaining benefits for New York State residents compared to Queens or Long Island is often cited as a reason.

When viewing properties in the Riverdale area, it is essential to check the retaining walls and drainage conditions due to the cliffside terrain. Given the number of older homes in Fieldston, it is also wise to factor in remodeling costs.