Syracuse, New York Housing Market

What stands out in Syracuse?

• Asking price per square foot has moved +12.9% a year over five years: among the strongest five-year price growth of 765 tracked cities. Long-run appreciation has been strong here.
• Asking prices swing about 27.0% between the cheapest and priciest months: among the biggest seasonal price swings of 765 tracked cities. Timing your purchase within the year matters here.
• Asking price per square foot is up 16.3% on the year: among the fastest-rising asking prices per square foot of 765 tracked cities. Sellers will price off recent gains. Comp carefully.

Are Syracuse price gains broad or limited to a few ZIP codes?

Asking price per square foot in Syracuse is up 16.3% over the last year. 7 of the 12 ZIP codes with at least 10 listings rose. 13204 led at up 176.5%, and 13203 trailed at down 24.1%. The gains are uneven. Price each ZIP on its own trend. Over five years the pace has been 12.9% a year. Underwrite closer to that than to the last twelve months.

Is now a good time to buy in Syracuse?

The median asking price is 24.1% below its Jul 2025 peak. Per square foot the gap is smaller: 14.4% below the Apr 2025 high. Part of the drop is smaller homes coming to market. Prices are rising again. Every month you wait costs money. The question is no longer when. It is which house. Syracuse prices have risen in 88 of the last 111 months. Drops here have been short and shallow. Buying in a slow month has rarely hurt a long hold.

If you plan to sell in the next two years, move it up. This much buyer demand does not last. Right now it does your negotiating for you.

When do Syracuse prices dip?

Across 9 full years, Syracuse asking prices ran lowest in February, about 13.5% below the year's average. They peaked in July. The most homes for sale show up in October, about 15% above the yearly average. Shop in October for choice, and expect the softest asking prices in February.

How much can you negotiate in Syracuse?

Pending-sale counts for Syracuse were thinly reported until recently, so this page reads demand from how long listings sit, how many sellers cut, and how much is for sale. Few sellers are dropping their price. Asking prices are holding firm. Your discount will come from one stale listing.

The typical Syracuse listing has been on the market 72 days. That is 88% longer than a year ago. There are 255 homes for sale in Syracuse. That is 1.8 times the tightest month on record, but below the peak of 687. Supply is growing against last year.

What to do about it

• Start in 13204, 13214, and 13207, the least competitive corners of Syracuse: in 13204, 4% of sellers have cut and the typical listing has been up 212 days.
• Hunt listings older than 90 days. They are the soft targets left.
• Get financing approved and set your maximum price before you bid.

How does Syracuse compare with other New York markets?

Ranked among the 14 New York markets we track:

• Asking price: 4th cheapest of 14. Syracuse is at $202,962. Closest: Rochester and Buffalo.
• Time on market: 4th longest time on market of 14. Syracuse is at a median of 72 days on market. Closest: Yonkers and Mount Vernon.
• Price cuts: 4th fewest price cuts of 14. Syracuse is at 6% of sellers cutting. Closest: Schenectady and New York.

What numbers should you underwrite a Syracuse deal with?

• Price growth to assume — +8.0%/yr. Syracuse grew 12.9% a year over the last five years. That is faster than its ten-year pace. The momentum is recent. Do not assume it continues. Underwrite between the two rates. Prices rose 16.3% over the last year. Use it for timing. The five-year rate is the better guide.
• Months of carrying cost — 3. Budget at least 72 days of holding costs, the current median listing age, when you exit or refinance. That is 88% longer than a year ago.
• Odds you cut your price to sell — 1 in 15. 6% of Syracuse listings have cut their asking price. Underwrite your exit below asking.
• Competition when you exit — +31%. Homes for sale in Syracuse are up 31% on last year, so your resale faces more competition than today's comps did.

Read when a cheap market is a warning and how we read these numbers, then run the numbers on a deal.

What is the median home price in Syracuse?

The median asking price in Syracuse is about $203,000 as of Sep 2026, up 0.8% from a year ago. The typical listing is 4% smaller than a year ago, and asking price per square foot is up 16.3%. So the size of homes on the market explains much of the rise. This is the asking price on homes listed for sale. Sites that report sold prices or estimated home values will show a different number. Our Syracuse figures cover the 25 ZIP codes with a Syracuse mailing address, which can reach past city limits.

Is Syracuse a buyer's or seller's market in 2026?

Sellers have more pull in Syracuse than usual. We compare Syracuse with 2017–2019 at this time of year: 6% of sellers have cut their price, against 18% then; there are 42% fewer homes for sale; the typical listing has been up 32% more days.

Are Syracuse home prices going up or down?

The median asking price is 24.1% below its Jul 2025 peak. Per square foot the gap is smaller: 14.4% below the Apr 2025 high. Part of the drop is smaller homes coming to market. Prices are rising again. Every month you wait costs money. The question is no longer when. It is which house.

Is Syracuse a renters' market or an owners' market?

In Syracuse, 45 out of every 100 households rent. That is nearly half. The renter share is shrinking. Five years ago it was 48 in 100. 9.1% of homes sit empty. That is normal for a healthy market.

What rent can Syracuse tenants afford?

At 30% of income, a tenant on the median income can pay about $1,533 a month. The median Syracuse household earns $61,301 a year.

What price growth should I assume for Syracuse?

Assume +8.0% a year. Syracuse grew 12.9% a year over the last five years. That is faster than its ten-year pace. The momentum is recent. Do not assume it continues. Underwrite between the two rates. Prices rose 16.3% over the last year. Use it for timing. The five-year rate is the better guide.

What is the fair market rent in Syracuse?

HUD's fiscal year 2026 fair market rent for Onondaga County is $1,392 a month for 2 bedrooms and $1,691 for 3 bedrooms. The figures include tenant-paid utilities and cover the whole county.