Mortgage Rates in Syracuse, New York — March 2026
Updated March 2026 | Based on Syracuse market data and regional lending conditions
Syracuse is a growing city in New York with a population of 148,620. The current 30-year fixed mortgage rate in Syracuse is 6.6%, which is 0.05% below the national average. With a median home price of $135,000 and a 20% down payment of $27,000, homebuyers can expect a monthly principal and interest payment of approximately $690.
Current Mortgage Rates in Syracuse, NY
Below are the current average mortgage rates available in the Syracuse area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.6% | 6.65% | -0.05% |
| 15-Year Fixed | 5.84% | 5.89% | -0.05% |
| 5/1 ARM | 6.1% | 6.15% | -0.05% |
| FHA | 6.2% | 6.25% | -0.05% |
| VA | 6% | 6.05% | -0.05% |
| Jumbo | 6.8% | 6.85% | -0.05% |
Syracuse Housing Market Overview
The Syracuse housing market offers relatively affordable housing compared to many major cities. The median household income in Syracuse is $38,250, and the cost of living index is 88.5 (national average = 100). Based on the 28% affordability rule, the median income in Syracuse is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Syracuse
Based on the median home price of $135,000 with 20% down ($27,000), here is what you can expect to pay monthly in Syracuse:
15-Year vs. 30-Year Mortgage in Syracuse
Choosing a 15-year mortgage in Syracuse at 5.84% instead of a 30-year at 6.6% would save you $86,040 in total interest over the life of the loan. However, your monthly payment would be $902 instead of $690 — an increase of $212 per month.
Calculate Your Syracuse Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Syracuse
What are the current mortgage rates in Syracuse, NY?
As of March 2026, the average 30-year fixed mortgage rate in Syracuse, New York is 6.6%, while the 15-year fixed rate is 5.84%. FHA loans average 6.2% and VA loans 6%. These rates are 0.05% below the national average of 6.65%.
How much is a monthly mortgage payment in Syracuse?
Based on the median home price of $135,000 with 20% down, the estimated monthly mortgage payment in Syracuse is $690 for principal and interest. Including property taxes of $190/month, the total monthly housing cost is approximately $880.
What income do I need to buy a home in Syracuse?
Using the 28% rule, you would need an annual income of approximately $37,714 to afford the median-priced home in Syracuse at $135,000. The median household income in Syracuse is $38,250. The median income is currently sufficient to meet this threshold.
Is Syracuse a good place to buy a home in 2026?
Syracuse offers a below-average cost of living with a cost of living index of 88.5 (national average = 100). The property tax rate in New York is 1.69%, which is above the national average. Syracuse has a population of 148,620 and offers a very affordable lifestyle.
Mortgage Rates in Other New York Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Syracuse, New York area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.