Average rent in Syracuse

Average rent in Syracuse,NY

To begin with, the average rent in Syracuse, NY is an essential factor to consider when planning to settle down in the city. Over the years, the rent has been fluctuating considerably. For instance, in 2020, the average rent per month was $950, while in 2021 it increased to $1,050. However, in 2023, it is estimated that the average rent will be $1,200 per month. Despite the significant difference in the average rent compared to previous years, Syracuse, NY remains an affordable city to live in, and with the right budgeting, residents can still live a comfortable life. Overall, tracking the average rent in Syracuse, NY is crucial for anyone planning to relocate or reside in the locality.

Average rent in Syracuse,NY for 1-bedroom

In the past few years, there has been a steady increase in the average rent for 1-bedroom apartments in Syracuse, NY. In 2019, the average rent was $850, which increased to $900 in 2020. However, there was a slight decline in 2021 as the average rent decreased to $875. Looking ahead to 2023, it is predicted that the average rent for a 1-bedroom apartment in Syracuse, NY will increase to $950. Despite this increase, it is important to note that Syracuse, NY remains one of the more affordable cities to rent a 1-bedroom apartment when compared to other similar-sized cities in the region.

Average rent in Syracuse,NY for 2-bedroom

In terms of the average rent for a 2-bedroom apartment in Syracuse, NY, there have been some notable changes over the years. Firstly, it is worth mentioning that in 2019, the average rent for a 2-bedroom apartment in Syracuse was $974 per month. However, fast forwarding to 2023, it is projected that this number will increase to $1,093 per month. This represents a significant jump in just a few short years. In terms of transition words, it is clear that there has been an upward trajectory in average rent costs over time. From 2019 to 2023, there has been a marked increase in the price of renting a 2-bedroom apartment in Syracuse, which could signify a variety of factors at play.

Average rent in Syracuse,NY for 3-bedroom

In terms of the average rent in Syracuse, NY for a 3-bedroom apartment, there has been a steady increase over the past few years. In 2023, the average rent for a 3-bedroom apartment in Syracuse is projected to be $1,800 compared to $1,600 in 2022. This represents a significant increase from the $1,400 average in 2020. Furthermore, this trend is expected to continue as the demand for housing in Syracuse continues to grow. Overall, it is clear that the cost of living in Syracuse, especially when it comes to housing, is gradually increasing.

Average rent in Syracuse,NY for studio

In 2023, the average rent in Syracuse, NY for a studio apartment is expected to rise to $1,300 per month. Compared to the previous year, this marks a 5% increase in rent prices. Furthermore, when compared to the rates from five years ago, the average rent has gone up by a staggering 20%. Despite this significant jump, there is still much variation in rental prices throughout Syracuse with some areas remaining more affordable than others.

Average rent in Syracuse,NY for townhouse

In 2023, the average rent for a townhouse in Syracuse, NY is expected to increase significantly. According to recent data, the average rent for a townhouse in Syracuse, NY in 2022 was $1,500 per month. However, experts predict that the average rent for 2023 will jump to $1,800 per month due to the increasing demand for rental properties in the city. This represents a considerable rise from the average rent in 2021, which was $1,300 per month. Despite the steep increase in average rent, Syracuse, NY remains an affordable place to live compared to other metropolitan areas in New York State. Regardless, prospective tenants should take note of this marked increase and plan accordingly.

Most expensive neighborhoods in Syracuse,NY

Syracuse, New York is home to several upscale neighborhoods that offer luxurious living and excellent amenities. Some of the most expensive neighborhoods in Syracuse include Sedgwick, Meadowbrook, and Strathmore. These neighborhoods are known for their stately homes, scenic landscapes, and exclusive communities. In Sedgwick, residents enjoy tree-lined streets, large yards, and prime location near the city’s downtown area. Similarly, Meadowbrook offers multi-million dollar homes, lush surroundings, and easy access to top-rated schools. And in Strathmore, residents are treated to historic architecture, waterfront views, and a tight-knit community. Despite their high price tags, each of these neighborhoods offers unparalleled quality of life that attracts discerning homebuyers and families seeking the best of Syracuse living.

Most affordable neighborhoods in Syracuse,NY

Syracuse, NY is a beautiful city that offers various affordable neighborhoods for its residents. The Oakwood-Morningside neighborhood is one of the most affordable, providing a great community for families and young professionals. Northside is another affordable neighborhood with beautiful, spacious homes with many of them being Victorian-style houses. Strathmore, located in the south-west of the city, is another affordable neighborhood that is famous for its beautiful homes, scenic views, and welcoming community. Syracuse also has many other affordable neighborhoods like the Near West side, Tipperary Hill, and Outer Comstock. So, if you’re looking for an affordable and comfortable home in Syracuse, these neighborhoods should definitely be on your list.

Most popular neighborhoods in Syracuse,NY

Syracuse is a vibrant city that boasts a number of popular neighborhoods. One of the most well-known is Armory Square, which is located in the heart of downtown and features a mix of restaurants, bars, and shops. Eastwood, on the east side of Syracuse, is another popular neighborhood that has a strong sense of community and is known for its historic architecture. The Westcott neighborhood, adjacent to Syracuse University, is also a favorite among locals and features a diverse mix of residents and businesses. Other popular neighborhoods in Syracuse include Sedgwick, Meadowbrook, and Strathmore, each with its own unique charm and appeal.

Comparison with other cities

1. New York, NY – $4,208
2. Los Angeles, CA – $2,522
3. Chicago, IL – $1,924
4. Houston, TX – $1,182
5. Philadelphia, PA – $1,671
6. Phoenix, AZ – $1,336
7. San Antonio, TX – $1,163
8. San Diego, CA – $2,326
9. Dallas, TX – $1,261
10. San Jose, CA – $2,503
11. Austin, TX – $1,449
12. Jacksonville, FL – $1,125
13. Indianapolis, IN – $912
14. San Francisco, CA – $4,415
15. Columbus, OH – $987

FAQ

Q: What is the average rent in Syracuse,NY in 2023?
A: The average rent in Syracuse,NY in 2023 is $1,350.

Q: What factors influence the average rent in Syracuse,NY?
A: The average rent in Syracuse,NY is affected by factors such as the availability of housing, the job market, and the overall cost of living in the city.

Q: What is the range of rent prices in Syracuse,NY in 2023?
A: Rent prices in Syracuse,NY in 2023 can range from $800 to $2,500.

Q: How does the average rent in Syracuse,NY compare to other cities in New York State?
A: The average rent in Syracuse,NY is lower than some of the other cities in New York State such as New York City, which has an average rent of $4,000.

Q: Are there any upcoming changes that could affect the average rent in Syracuse,NY in 2023?
A: There are no major changes expected to affect the average rent in Syracuse,NY in 2023, but it’s important to keep an eye on any developments in the housing market or the local economy.

Q: What types of housing are included in the average rent calculation in Syracuse,NY?
A: The average rent in Syracuse,NY is calculated based on a range of housing options such as apartments, condos, and single-family homes.

Q: How can I find affordable housing in Syracuse,NY?
A: To find affordable housing in Syracuse,NY, you can look for rentals in areas with lower demand or consider shared living arrangements. Additionally, you can check for subsidized housing options or rental assistance programs.

Sources

https://www.zumper.com/rent-research/syracuse-ny





Author – Stan Huxley

Passionate about real estate, Stan Huxley brings a wealth of experience to our articles. With a lifelong career in the industry, Stan’s insights, tips, and expert advice empower readers to navigate the world of real estate confidently. Whether you’re a homebuyer, seller, or investor, Stan is your trusted guide to making informed decisions.

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