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Syracuse one-bedroom apartment rent prices up 5 percent in June compared to May

By Journal Staff

Date:

But prices are down more than 11 percent from a year ago

The median rental price for most apartments in the Syracuse metro area rose almost 5 percent in June compared to May, but the price was down more than 11 percent from the year-ago month. 

That’s according to the July 2020 national rent report from Zumper, an apartment-rental listings website.

The median rental price of one-bedroom apartments in the Syracuse region jumped 4.9 percent to $860 in June from $820 in May, but was down 11.3 percent from $970 in June 2019. 

Rental rates for two-bedroom units in the area rose 5 percent to $1,060 in June from $1,010 in the prior month and were up 1 percent from $1,050 in the year-ago month.

Syracuse now ranks tied for the 74th most expensive rental market in the nation, up from 79th a month ago, per 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 on a monthly basis to calculate median asking rents for the top 100 metro areas by population.  

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