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NYC Neighborhood Comparison
Bronx
Bronx
For buyers focused on affordability, Pelham Parkway has the lower median sale price at $185K vs $999K in Melrose.
Investors analyzing rental yield will find Pelham Parkway offers a stronger rent-to-price ratio based on current market data.
| Metric | Melrose | Pelham Parkway |
|---|---|---|
| Median Sale Price | $999,000 | $185,000 |
| Median Condo Price | $285,000 | N/A |
| Median Co-op Price | $40,000 | $185,000 |
| Median Rent | $2,250 | $2,295 |
| Active Listings | 5 | 11 |
| Rental Inventory | 14 | 13 |
| Days on Market | 86 | 246.5 |
| Price Cut Share | 20.0% | 18.2% |
| Monthly Sales Volume | 1 | 4 |
| YoY Price Change | +8.6% | -7.5% |
| YoY Rent Change | -4.3% | +0.9% |
| YoY Inventory Change | -16.7% | -26.7% |
| Subway Lines | N/A | N/A |
Prices in Melrose moved +8.6% over the past year, compared to -7.5% in Pelham Parkway. Melrose is seeing price appreciation while Pelham Parkway has softened, pointing to different supply-demand dynamics in each market.
Melrose features 19th-century brownstones, neo-Renaissance apartment houses, and modern LEED-certified developments like Via Verde, all anchored by the commercial corridors along Third Avenue and Melrose Avenue. The 2 and 5 trains stop at East 149th Street, the 4 train serves nearby stations, and St. Mary's Park provides 35 acres of green space on the neighborhood's edge.
View Full Market ReportPelham Parkway features six- and seven-story prewar Art Deco and Renaissance Revival apartment buildings with terra-cotta facades and ornate entryways, alongside detached houses on residential side streets. The 2 and 5 trains at Pelham Parkway and Bronx Park East stations connect to Manhattan, and the neighborhood borders the Bronx Zoo and New York Botanical Garden.
View Full Market ReportNo subway data available
No subway data available
Listing data is derived in whole or in part from the RLS at REBNY (Real Estate Board of New York) Internet Data Exchange (IDX) database. Real estate listings held by brokerage firms other than Milton Coste | Keller Williams NYC are marked with the RLS logo. The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is refreshed every 15 minutes per REBNY IDX requirements.
From the 2008 financial crisis through the 2020 pandemic, the NYC metro Case-Shiller composite fell about 25% peak-to-trough between 2007 and 2012, then fully recovered by 2017 and gained another 15% through Q1 2020. Melrose and Pelham Parkway both tracked this broader NYC arc, with annual closing volume contracting sharply in 2009 and again in Q2 2020 before normalizing.
Outer-borough submarkets including Melrose and Pelham Parkway generally tracked the broader NYC metro pattern of a 20% to 25% peak-to-trough decline before fully recovering by 2017 and posting further gains through early 2020.
Source: Per Case-Shiller Home Price Index, NYC metro subset, 2008-2020, cross-referenced with StreetEasy historical price data series.
| Metric (2026) | Melrose | Pelham Parkway |
|---|---|---|
| Median Sale Price | $999,000 | $185,000 |
| Median Rent | $2,250/mo | $2,295/mo |
| Year-over-Year Price Change | +8.6% | -7.5% |
| Average Days on Market | 86 days | 246.5 days |
| Distance to Nearest Subway | N/A | N/A |
Table values reflect current 2026 market conditions. Historical 2008-2020 commentary is sourced from Case-Shiller NYC metro composite and StreetEasy historical series.
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Data updated:
