SYRACUSE — The median rental price for most apartments in the Syracuse metro area jumped just over 11 percent in May from a year earlier and increased nearly 6 percent from the prior month. That’s according to the latest Zumper National Rent Report, issued on May 28. The median rental price of one-bedroom apartments in […]
SYRACUSE — The median rental price for most apartments in the Syracuse metro area jumped just over 11 percent in May from a year earlier and increased nearly 6 percent from the prior month.
That’s according to the latest Zumper National Rent Report, issued on May 28.
The median rental price of one-bedroom apartments in the Syracuse region was $1,300 in May, up 5.7 percent from $1,230 in April, and 11.1 percent higher than the $1,170 median rent seen in May 2024, according to Zumper, an apartment rental-listings website.
The Syracuse rental market posted the third-highest year-over-year increase in median one-bedroom rent among the 100 largest markets in the country. Only New Haven, Connecticut and San Francisco, California experienced bigger rises in rent in the same period.
The median rental rate for two-bedroom units in the Syracuse area was $1,600 this May, up 3.2 percent from $1,550 in April, but up 10.3 percent from $1,450 in the year-prior month.
Syracuse now ranks as 49th most expensive rental market among the top 100 metro areas by population, according to the Zumper report.
The Zumper National Rent Report analyzes rental data from more than 1 million active listings across the U.S. The company aggregates the data monthly to calculate median asking rents for the 100 largest regions.
