Syracuse, NY Housing Market
AI-powered market intelligence for the Syracuse, NY metro area.
PropertyIQ Scores
Syracuse, NY Market Analysis
Market Overview
Syracuse, NY is a strong market, with a PropertyIQ Score of 97 out of 100. The score is driven by a 12-month home value momentum of 12.31%, a median days on market of 50 days, and a relatively low share of listings with a price cut at 8.1%. The 3-month home value momentum of 0.53% is positive but much cooler than the annual pace. The median home value is $270,832, well below the New York state average of $526,714. At the same time, the local rent index of $1,607 is nearly equal to the state average of $1,621, which makes Syracuse stand out as a lower-priced market with near-state-average rental levels.
Syracuse’s unemployment rate of 3.7% is below the state average of 4.4%, supporting housing demand. Median household income is $75,492, below the state average of $85,974, which tempers purchasing power even though home prices are far lower than the state. There are 1,025 homes for sale. The provided year-over-year home value change is listed as $1; because it appears inconsistent with the other momentum data, it should be read cautiously as a flat or unclear figure rather than a meaningful annual gain or loss.
Key Trends
First, annual home value growth has been strong but is decelerating. The 12-month home value momentum of 12.31% shows significant appreciation over the past year, while the 3-month momentum of 0.53% points to a much slower near-term pace. Buyers and sellers should weigh both figures rather than relying only on the annual gain.
Second, Syracuse offers a clear affordability advantage relative to the state. The median home value of $270,832 is roughly 51% of the state average of $526,714. Using the provided income figures, Syracuse’s price-to-income ratio is about 3.6, compared with about 6.1 for the state average. This gap is meaningful for buyers, though local incomes are also lower.
Third, the market is balanced but seller-friendly. With 1,025 homes for sale and a median of 50 days on market, homes are moving at a moderate pace. Only 8.1% of listings have had a price cut, which indicates limited pressure on sellers to reduce asking prices.
Fourth, rental economics are notable. The rent index of $1,607 is nearly identical to the state average of $1,621, while the median home value is about half the state average. This combination can support stronger rental yields than higher-priced New York markets.
Who Is This Market For
Syracuse is well suited to first-time homebuyers. The median home value of $270,832 and the price-to-income ratio of about 3.6 are more attainable than the state-level ratio of about 6.1. A median of 50 days on market gives buyers enough time to evaluate homes, though the low 8.1% share of listings with a price cut suggests limited room for negotiation.
Rental property investors may also find Syracuse attractive. The rent index of $1,607 is close to the state average of $1,621, but the median home value is much lower, which can improve cash-flow potential. The 12-month home value momentum of 12.31% also signals recent appreciation, while the 3-month momentum of 0.53% points to more modest near-term gains.
Move-up buyers can benefit as well. Homeowners who gained equity during the 12.31% annual home value increase may be positioned to trade up, especially since the overall price level remains below the state average. However, the median household income of $75,492 is below the state average, so affordability should be carefully evaluated.
Outlook
The data supports a cautiously positive outlook for Syracuse. The 12-month home value momentum of 12.31% and the low share of listings with price cuts at 8.1% suggest underlying demand remains steady. However, the 3-month home value momentum of 0.53% indicates that rapid appreciation has cooled, and the median days on market of 50 days points to a moderate rather than overheated pace. The unemployment rate of 3.7% is below the state average, which supports buyer confidence. Population growth data is not available, so demographic trends cannot be assessed. Median household income of $75,492 remains below the state average, which may limit how far prices can rise before affordability becomes a constraint. The year-over-year home value figure listed as $1 is unclear and should not be treated as a reliable directional signal. Overall, the numbers point to stability with slower near-term price growth than the 12-month momentum would suggest.
AI-generated analysis based on current market data. Last updated September 30, 2026.
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Syracuse, NY market data
Syracuse, NY Housing Market Overview
Syracuse, NY's median home value is $271K, up 12.3% over the past year. Homes here sell in a median 50 days. Its PropertyIQ Score of 97 sits well above the state average of 50, marking a market positioned to outperform its state over the next three years.
Understanding the Syracuse, NY housing market requires looking beyond headline price figures. The PropertyIQ Score reads both sides of market strength: Zillow price momentum across 3- and 12-month windows, and Realtor.com flow signals — days on market and the share of listings with price cuts. Together they predict how this NY metro is set to perform relative to the rest of its state.
The Mid-Atlantic corridor benefits from proximity to major financial centers and government institutions. Housing markets in this region balance urban density with suburban expansion, creating varied opportunities from walkable city neighborhoods to rapidly growing exurbs. Within the Mid-Atlantic, Syracuse, NY's PropertyIQ Score of 97 ranks among the Mid-Atlantic's stronger demand signals.
New York's housing landscape spans from the nation's most expensive urban neighborhoods to affordable upstate markets with university-driven stability. The post-pandemic remote work shift has redistributed demand across the state.
For the Syracuse, NY market, PropertyIQ calculates a single score each month from four inputs: twelve-month Zillow home-value momentum, three-month Zillow home-value momentum, median days on market from Realtor.com, and the Realtor.com price-reduced share. The score is computed nationally across all metros and calibrated so 50 equals the state average. Across the validation history, metro markets in the top score band have outperformed their state by roughly 1.7 percentage points more per year than bottom-band markets. Momentum here has been positive, with home values up 12.3% over the past year.
Use PropertyIQ's interactive analytics to compare Syracuse, NY against any other US metro on its PropertyIQ Score and underlying metrics. Generate a free AI market report, explore historical trends on the graphs page, or see how this market ranks on the scores dashboard.
Counties in the Syracuse, NY metro area
ZIP codes in the Syracuse, NY metro area
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Market data through August 2026. Sourced from Zillow, Realtor.com, Redfin, U.S. Census Bureau, FRED, BLS, and BEA. Per-statistic source and date shown above.
Frequently Asked Questions
Is Syracuse, NY a good place to buy real estate in 2026?
PropertyIQ doesn't label markets simply good or bad. Instead, the PropertyIQ Score measures a market's demand momentum against its own state, where 50 marks the state average. Syracuse, NY currently scores 97, a very strong-momentum reading that leaves it positioned to outperform its state over the next three years. For buyers, strengthening demand usually means rising competition and firmer prices, so waiting can cost you negotiating room. Backing that up, the median home value here is $271K, up 12.3% over the past year. So whether Syracuse, NY is right for you comes down to your goals: a rising-momentum market can favor long-term appreciation but offers less room to negotiate, while a cooling one hands buyers more leverage. Treat the score as a timing signal to weigh alongside your budget, holding period, and plans for the property, not a verdict on the market's quality.
What is the PropertyIQ Score for Syracuse, NY?
Syracuse, NY's PropertyIQ Score is 97, indicating very strong momentum on a 1-to-99 scale. The score distills four transparent inputs into a single number: Zillow home-value momentum over the past 12 months, Zillow home-value momentum over the past 3 months, the median days homes spend on the market from Realtor.com, and the share of listings with a price cut, also from Realtor.com. Rising values and faster sales push the score up, while slow sales and frequent price cuts pull it down. The scale is calibrated so 50 equals the state average, meaning a score above 50 predicts the market will outperform its state over the next three years and a score below 50 predicts underperformance. PropertyIQ computes the score across every US market nationally, then recenters it against each state, so 97 places Syracuse, NY above its state benchmark.
Are home prices in Syracuse, NY rising or falling?
Home prices in Syracuse, NY are rising. Over the past year, the median home value increased 12.3%, reaching $271K. Over the latest three months, values moved up 0.5%, a sign near-term demand remains firm. PropertyIQ derives these figures from Zillow's home-value index, which tracks the typical value across the market rather than only the homes that happened to sell, giving a steadier read than a raw median sale price. Both the 12-month and 3-month momentum readings feed directly into the PropertyIQ Score, so this price trend is one of the core signals behind Syracuse, NY's current score. Keep in mind that appreciation can vary widely by neighborhood and price tier across the metro area, so treat these figures as the market-wide baseline rather than a guarantee for any single property.
How quickly do homes sell in Syracuse, NY?
In Syracuse, NY, homes sell in a median of 50 days from listing to pending sale, based on Realtor.com market data. Median days on market is one of the clearest real-time reads on local demand: when homes move quickly, buyers are competing and sellers hold the advantage, while lengthening timelines signal cooling interest and more room to negotiate. Alongside sale speed, about 8% of active listings here have taken at least one price cut — a complementary demand gauge, since a rising share of reductions often precedes slower sales and softer prices. Both median days on market and the price-cut share feed directly into the PropertyIQ Score, where faster sales and fewer cuts push the score higher. As a general guide, medians under about 30 days indicate a brisk, competitive market, while medians well beyond 60 days point to buyers regaining leverage. Actual time on market still varies by price band, property type, and season, so treat the median as a market-wide baseline.
How current is this metro area data?
This Syracuse, NY market data is refreshed on a monthly cycle, with the latest figures current through August 2026. PropertyIQ ingests fresh data every month from a range of authoritative sources: home values and rents from Zillow, days on market and price-cut activity from Realtor.com, additional housing signals from Redfin, demographic and housing-stock data from the U.S. Census Bureau, mortgage and macroeconomic series from FRED, and employment figures from the Bureau of Labor Statistics and the Bureau of Economic Analysis. The PropertyIQ Score itself is recomputed every month once the new source data lands, so the score and its four underlying inputs always reflect the most recent complete reporting period rather than a static snapshot. Because official housing data is typically released with a short lag, the current-through date usually trails the present by a few weeks, which is normal across the industry and not a sign the data is out of date.