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Rent vs Buy in Syracuse, NY

Pre-filled with 2026 median data for Syracuse. Adjust any number to match your situation.

Median Home Price

$165,000

Median Rent/Month

$1,100

Property Tax Rate

1.72%/yr

Avg Appreciation

1.8%/yr

Adjust Your Numbers

$165,000
20% ($33,000)
$1,100
7.0%
7 years

Is It Worth Buying a Home in Syracuse, NY?

The decision to rent or buy in Syracuse, New York depends on how long you plan to stay, your down payment, and current mortgage rates. With a median home price of $165,000 and median monthly rent of $1,100, the math plays out differently depending on your personal situation.

Syracuse has an average property tax rate of 1.72% annually, which adds approximately $237/month to the cost of homeownership on a median-priced home.

Historically, home values in Syracuse have appreciated at roughly 1.8% per year, which works in favor of buyers who plan to stay long-term. Use the calculator above to find your personal break-even point.

Key Factors for Syracuse Buyers

  • Down payment of 20% on a median home = $33,000
  • Monthly mortgage (30yr at 6.99%) ≈ $877/mo
  • Property tax ≈ $237/mo
  • Estimated maintenance ≈ $138/mo