Home Values in Syracuse, New York — 2026 Market Report
Updated March 2026 | Seller's Market | +2.2% YoY
The median home value in Syracuse, New York is $135,000 as of March 2026, which is below the national median of $400,000. Home values in Syracuse have increased by 2.2% over the past year and 11.5% over the last five years. With a population of 148,620 and a median household income of $38,250, the price-to-income ratio stands at 3.5x, making Syracuse affordable for the average household.
Syracuse Housing Market Conditions
| Metric | Syracuse | National Avg |
|---|---|---|
| Median Home Value | $135,000 | $400,000 |
| YoY Appreciation | +2.2% | +3.8% |
| 5-Year Appreciation | +11.5% | +22.4% |
| Price per Sq Ft | $91 | $222 |
| Days on Market | 57 days | 45 days |
| Months of Supply | 2.3 | 3.5 |
| List-to-Sale Ratio | 97% | 98.5% |
| Monthly Homes Sold | 118 | — |
| Foreclosure Rate | 0.24% | 0.3% |
Home Value Trends in Syracuse
A homeowner who purchased at the median price of $121,076 five years ago in Syracuse would have gained approximately $13,924 in equity, representing a 11.5% return on investment. Over the past year alone, the typical homeowner gained $2,906 in home equity.
Affordability in Syracuse, NY
With a median household income of $38,250 and a median home price of $135,000, the price-to-income ratio in Syracuse is 3.5x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $834 compared to estimated monthly ownership costs of $831 gives a rent-vs-buy ratio of 1.00. In Syracuse, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in Syracuse
The effective property tax rate in New York is 1.69%. On a home valued at $135,000, the estimated annual property tax bill is $2,282, or approximately $190/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in Syracuse is 88.5 (100 = national average), indicating living costs are below the national average.
Calculate Your Mortgage Payment in Syracuse
Use our free calculator to estimate monthly payments for a $135,000 home
Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in Syracuse, NY?
The median home value in Syracuse, New York is $135,000 as of March 2026. Home values have changed +2.2% over the past year, with a 5-year appreciation of 11.5%.
Is Syracuse a buyer's or seller's market?
Syracuse is currently a seller's market with 2.3 months of housing supply. Homes spend an average of 57 days on market, and the list-to-sale price ratio is 97%. Low inventory gives sellers an advantage.
Are home values going up in Syracuse?
Yes, home values in Syracuse have increased by 2.2% over the past year. The 5-year appreciation rate is 11.5%, meaning a home worth $121,076 five years ago is now worth $135,000.
Is it better to rent or buy in Syracuse?
The average monthly rent in Syracuse is $834, while estimated monthly homeownership costs are approximately $831. The price-to-rent ratio is 13.5. Based on current conditions, buying may be more cost-effective than renting in this market.
Home Values in Other New York Cities
Related Resources
Disclaimer: Home value data for Syracuse, New York is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.