Syracuse, UT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Syracuse Neighborhoods Since 2000




Syracuse, UT Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Syracuse Housing Market Information

With a population of 27,395, 6,941 total housing units (homes and apartments), and a median house value of $281,879, Syracuse real estate prices are well above average cost compared to national prices.

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 ( 91.88%).

Syracuse homes and real estate are some of the newest in America. 63.25% 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 ( 29.38%), and between 1940-1969 ( 5.93%). There's also some housing in Syracuse built before 1939 ( 1.43%).

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 7.24%, which ranks in the top 40% nationwide. This equates to an annual average Syracuse house appreciation rate of 0.70%.

Appreciation rates are so strong in Syracuse that despite a nationwide downturn in the housing market, Syracuse real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Syracuse appreciation rates continue to be some of the highest in America, at 7.55%, which is higher than appreciation rates in 84.41% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Syracuse. Syracuse appreciation rates in the latest quarter were at 1.99%, which equates to an annual appreciation rate of 8.18%.

Importantly, this makes Syracuse one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

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

Average Home Values

 

Median Home Value:
$281,879

Syracuse, UT HOME PRICES

Value Range
> $1,201,000 0.2
$901,001 - $1,201,000 0.0
$600,001 - $901,000 1.1
$480,001 - $600,000 3.8
$360,001 - $480,000 17.9
$240,001 - $360,000 42.1
$120,001 - $240,000 31.3
$60,001 - $120,000 1.1
$0 - $60,000 2.7

High for UT
Very High for Nation

Value Relative to Nation Value Relative to State
18.2643853275519 33.5570469798658

Number Of Homes And Apartments:
6,941

Syracuse Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
UT*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
39.94% 1.97% 2 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,864 / per month

Homeownership Rate

Homeownership
Owners 91.88
Renters 8.12
Vacant 3.32

Housing Market Details

 

Age of Homes

AGE OF Syracuse HOMES
2000 or Newer 63.3
1970 - 1999 29.4
1940 - 1969 5.9
1939 or Older 1.4

Types of Homes

TYPE OF Syracuse HOMES
Single-Family 95.7
Townhomes 1.9
Small Apt. Buildings 1.1
Apt. Complexes 0.0
Mobile Homes 1.3
Other 0.0

Home Size

SIZE OF Syracuse HOMES
No Bedroom 0.21
1 Bedroom 0.14
2 Bedrooms 6.59
3 Bedrooms 26.48
4 Bedrooms 21.91
5 or more bedrooms 44.67

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Zip Codes in Syracuse, UT