Mortgage payment estimates, closing cost breakdowns, and homebuying data for Syracuse, New York.
Median Home Price
$175K
Population
149K
Avg Monthly Rent
$1,080
Property Tax Rate
1.72% *
* Property tax shown is the New York state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Syracuse.
Syracuse vs New York Median
The median home price in Syracuse is $175,000, which is 59% below the New York state median of $430,000.
Mortgage Calculator — Syracuse, NY
Pre-filled with Syracuse median home price and New York tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $175K home using New York's 1.72% tax rate and $2,100/yr insurance.
5% Down
$1,574/mo
Down: $8,750
Loan: $166K
P&I: $1,051
Tax: $251
Insurance: $175
PMI: $97
10% Down
$1,513/mo
Down: $17,500
Loan: $158K
P&I: $996
Tax: $251
Insurance: $175
PMI: $92
20% Down (No PMI)
$1,311/mo
Down: $35,000
Loan: $140K
P&I: $885
Tax: $251
Insurance: $175
Income needed (28% rule): $56K/year with 20% down, $65K/year with 10% down.
Rent vs Buy in Syracuse
Rent
$1,080/mo
vs
Buy (10% down)
$1,513/mo
Price-to-rent ratio: 13.5 — With a ratio under 15, buying in Syracuse is likely more cost-effective than renting if you plan to stay 3+ years. The monthly cost of buying is $433 more than renting, but you build equity with every payment.
The median home price in Syracuse is $175,000, 59% below the New York state median of $430,000. With a population of 148,620, Syracuse is a mid-size city where home prices tend to be more accessible than in many parts of New York.
Property taxes in New York average 1.72% annually. This higher-than-average tax rate means a $175,000 home in Syracuse would carry roughly $251/month in property taxes alone — plan accordingly. Homeowners insurance in New York runs approximately $2,100 per year. This is within the normal range nationally.
Average rent in Syracuse is $1,080/month. With a price-to-rent ratio under 15, buying may be more cost-effective than renting in Syracuse over the long term.
Syracuse offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with New York's SONYMA Achieving the Dream program.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Syracuse.