Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 3,081, 1,447 total housing units (homes and apartments), and a median house value of $266,420, Syracuse real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Syracuse, accounting for 71.92% of the town's housing units. Other types of housing that are prevalent in Syracuse include duplexes, homes converted to apartments or other small apartment buildings ( 12.91%), large apartment complexes or high rise apartments ( 7.62%), and a few mobile homes or trailers ( 4.24%).
The most prevalent building size and type in Syracuse are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 63.01% owning and 36.99% renting.
There is a lot of housing in Syracuse built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Syracuse built before 1939 ( 31.05%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.60%). There's also some housing in Syracuse built between 2000 and later ( 12.21%).
Vacant housing appears to be an issue in Syracuse. Fully 15.87% of the housing stock is classified as vacant. Left unchecked, vacant Syracuse homes and apartments can be a drag on the real estate market, holding Syracuse real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Real estate appreciation rates in Syracuse's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.92% during the period.
NeighborhoodScout's data show that during the latest twelve months, Syracuse's appreciation rate, at 5.00%, has been at or slightly above the national average. In the latest quarter, Syracuse's appreciation rate has been -1.49%, which annualizes to a rate of -5.81%.
Notably, Syracuse's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Indiana, our data show that Syracuse's latest annual appreciation rate is higher than 60% of the other cities and towns in Indiana.
$266,420
for Indiana
for nation
1,447
$1,271 / per month