Syracuse, NY Rental Market
Syracuse sits at the geographic crossroads of upstate New York and serves as the commercial and educational hub of Central NY. Syracuse University — a major research institution and the city's largest employer — generates consistent student and faculty rental demand. The healthcare sector (Upstate University Hospital and Crouse Health) and state and county government employment round out a stable, multi-profile tenant base. Low home values make Syracuse one of the highest gross-yield markets in New York State.
Get a rent estimate for an address in SyracuseAverage Rent in Syracuse, NY
$1,050
per month · 2026-06
Market Score
Key Facts — Syracuse, NY Rental Market
- Average rent in Syracuse, NY:$1,050/mo
- Median rent:$966/mo
- Rent range:$525 – $2,300/mo
- Most common rental (2 bedrooms):$925/mo
- Active listings:480
- Avg days to lease:38 days
- Year-over-year change:+2.5%
- Median home value:$160,000
- Est. gross annual yield:7.9%
- Data as of:2026-06
Rent by Bedroom in Syracuse, NY
Average monthly rent for each bedroom type based on current active listings in Syracuse.
| Bedroom Type | Avg Rent/mo |
|---|---|
1 Bedroom | $750/mo |
2 Bedrooms | $925/mo |
3 Bedrooms | $1,175/mo |
4 Bedrooms | $1,450/mo |
5 Bedrooms | $1,650/mo |
Syracuse Rental Market Statistics
Key indicators from the current Syracuse, NY rental market.
480
Available now in Syracuse
38
From list to lease
$0.84
Average across listings
1,250 sq ft
Typical rental size
$525 – $2,300
Min to max active listings
+2.5%
Avg rent vs. prior year
Investing in Syracuse, NY Rental Properties
Estimated returns based on current market rents and median home values. Perform full due diligence before investing.
Median Home Value
$160,000
Typical purchase price in Syracuse
Est. Gross Annual Yield
7.9%
Before expenses & vacancy
Avg Monthly Income
$1,050
At average market rent
Gross yield = (avg rent × 12) ÷ median home value. Does not include expenses, financing, vacancies, or management fees. Analyze a specific property in Syracuse for a full cash-flow breakdown including all costs.
Syracuse, NY Rental Market FAQ
Common questions about renting and investing in Syracuse, NY.
What is the average rent in Syracuse, NY?
The average rent in Syracuse, NY is $1,050 per month as of 2026. One-bedroom apartments average $750/mo, two-bedrooms $925/mo, and three-bedroom homes $1,175/mo. Areas near Syracuse University, Armory Square, and the Near Westside command a premium over other neighborhoods.
Is Syracuse, NY a good place to invest in rental property?
Syracuse offers one of the highest gross yields among major upstate NY markets at an estimated 7.9%, based on a very affordable median home value near $160,000. Syracuse University's 22,000+ students, combined with large healthcare and government employers, provide a consistent tenant base that makes occupancy predictable for well-located properties.
How does Syracuse University affect the rental market?
Syracuse University is the anchor employer and primary tenant driver in the Syracuse rental market. Student demand peaks annually in the fall semester and creates a reliable leasing cycle, particularly for 2–4 bedroom properties near campus and in the University Hill neighborhood. Faculty, staff, and university-affiliated researchers also form a stable professional rental base.
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