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 35,561 people, 8,516 houses or apartments, and a median cost of homes of $496,328, real estate costs in Syracuse are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Utah communities.
Syracuse is a city of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Syracuse than is found in 98% of the communities in America.
The large homes that make up Syracuse are primarily owner-occupied ( 91.37%).
Syracuse homes and real estate are some of the newest in America. 67.37% of Syracuse's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Syracuse real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 28.04%), and between 1940-1969 ( 3.78%).
In the last 10 years, Syracuse has experienced some of the highest home appreciation rates of any community in the nation. Syracuse real estate appreciated 115.84% over the last ten years, which is an average annual home appreciation rate of 8.00%, putting Syracuse in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Syracuse definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Syracuse appreciation rates have trailed the rest of the nation. In the last twelve months, Syracuse's appreciation rate has been -2.70%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Syracuse were at 2.45%, which equates to an annual appreciation rate of 10.17%.
Relative to Utah, our data show that Syracuse's latest annual appreciation rate is lower than 60% of the other cities and towns in Utah.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Syracuse differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Syracuse - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Syracuse real estate investment or home purchase decisions.
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