Syracuse, IN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Syracuse, IN Real Estate Data


Syracuse Housing Market Information

With 2,877 people, 1,142 houses or apartments, and a median cost of homes of $178,677, Syracuse real estate is some of the most expensive in Indiana, although Syracuse home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Syracuse, accounting for 62.93% 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 ( 18.53%), mobile homes or trailers ( 10.25%), and a few large apartment complexes or high rise apartments ( 6.52%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Syracuse. Owner-occupied housing accounts for 66.51% of Syracuse's homes, and 49.63% have either three or four bedrooms, which is average sized relative to America.

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 between 1940-1969 ( 27.70%). A lesser amount of the housing stock also hails from before 1939 ( 22.13%). There's also some housing in Syracuse built between 2000 and later ( 8.42%).

Vacant housing appears to be an issue in Syracuse. Fully 22.47% 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.

Syracuse Home Appreciation Rates

Appreciation rates for homes in Syracuse have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 5.34%, which ranks in the top 50% nationwide. This equates to an annual average Syracuse house appreciation rate of 0.52%.

NeighborhoodScout's data show that during the latest twelve months, Syracuse's appreciation rate, at 5.69%, has been at or slightly above the national average. In the latest quarter, Syracuse's appreciation rate has been 2.34%, which annualizes to a rate of 9.71%.

Relative to Indiana, our data show that Syracuse's latest annual appreciation rate is lower than 50% of the other cities and towns in Indiana.

Average Home Values

 

Median Home Value:
$178,677

Syracuse, IN HOME PRICES

Value Range
> $1,116,000 4.2
$837,001 - $1,116,000 3.3
$558,001 - $837,000 3.3
$446,001 - $558,000 1.6
$335,001 - $446,000 4.3
$223,001 - $335,000 18.1
$112,001 - $223,000 32.3
$56,001 - $112,000 21.9
$0 - $56,000 11.0

Very High for IN
High for Nation

Value Relative to Nation Value Relative to State
39.7669379867658 14.7058823529412

Number Of Homes And Apartments:
1,142

Rent & Ownership

 

Average Market Rent:
$838 / per month

Homeownership Rate

Homeownership
Owners 66.51
Renters 33.49
Vacant 22.47

Housing Market Details

 

Age of Homes

AGE OF Syracuse HOMES
2000 or Newer 8.4
1970 - 1999 41.8
1940 - 1969 27.7
1939 or Older 22.1

Types of Homes

TYPE OF Syracuse HOMES
Single-Family 62.9
Townhomes 1.8
Small Apt. Buildings 18.5
Apt. Complexes 6.5
Mobile Homes 10.3
Other 0.0

Home Size

SIZE OF Syracuse HOMES
No Bedroom 2.44
1 Bedroom 12.36
2 Bedrooms 34.08
3 Bedrooms 36.12
4 Bedrooms 13.51
5 or more bedrooms 1.49

Syracuse Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
32.94% 1.69% 8 4
* 10 is highest