Quick facts: Syracuse, NY

Quick Facts

112.3
Cost of Living
above US average
144,451
Population
39.63
Crime Rate per 1000
above US average
$43,584
Median Income
below US average
$214,900
Median House Price
above US average
$2430.63
Average Rent
above US average
Poverty rate Data is updating, will be available soon
5.1%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $43,584.

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Income Needed to Buy

βœ— Stretch
$67k/year
Based on $214,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $67k vs median $43,584
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Income Needed to Rent

⚠ Stretch
$104k/year
Based on $2430.63/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $104k vs median $43,584
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Syracuse, NY

Syracuse is a vibrant city located in Central New York, serving as the economic and educational hub of the region. Known for its rich history and diverse culture, Syracuse is home to Syracuse University, a prominent institution that contributes significantly to the local economy and cultural scene. The city experiences a humid continental climate, with warm summers and cold, snowy winters, making it ideal for winter sports enthusiasts. The downtown area features a mix of historic architecture and modern amenities, including a variety of restaurants, shops, and entertainment venues. Syracuse is also known for its annual events, such as the Great New York State Fair and the Syracuse Jazz Fest, which attracts visitors from across the state and beyond. In terms of outdoor activities, the nearby Finger Lakes and Adirondack Mountains provide ample opportunities for hiking, boating, and skiing. The Erie Canal also runs through the region, offering scenic views and recreational activities. With a blend of urban and natural attractions, Syracuse is a city rich in opportunities for residents and visitors alike.

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