Zillow and Census data, September 2026
Rental property math in Syracuse, NY
A typical Syracuse home is worth $268,949 and a typical single-family rental there gets $2,219 a month, 0.83% of the price. At 80% LTV and an assumed 7.25% rate, that rent covers the full payment 1.08x, enough for a DSCR loan: rent is $64 above the $2,155 that 1.05x needs.
- Typical home value
- $268,949+6.6% in a year
- Single-family rent
- $2,219+5.2% in a year
- Rent / price, monthly
- 0.83%33rd of 574 metros
- Property tax rate
- 2.01%$5,405 a year on the typical home
- DSCR at 80% LTV
- 1.08x107th of 574; 1.05x needed
- Cash to close
- $61,85820% down + 3% costs
The DSCR on the typical Syracuse house
Loan: $268,949 × 80% = $215,159. At 7.25% over 30 years, principal and interest are $1,468 a month. Taxes: $268,949 × 2.01% = $5,405 a year, $450 a month. Insurance, assumed at 0.6% of value: $1,614 a year, $134 a month. Payment (PITIA): $2,053. DSCR: $2,219 ÷ $2,053 = 1.08x.
Rent that clears 1.05x: $2,053 × 1.05 = $2,155.
The margin is thin. At 8.25% the typical house falls to 1.01x, and an insurance quote at 1.2% of value instead of 0.6% would drop it to 1.01x, under the line.
How much room the rent leaves
Typical rent would support a loan of $224,056 at 1.05x, more than the $215,159 that 80% LTV allows, so here the LTV cap is the limit, not the rent. Put another way, at 80% LTV the rent carries a purchase up to about $276,901, $7,952 above the typical price, once taxes and insurance are scaled to that price. After the payment, $166 a month is left for vacancy, repairs and management, which the DSCR test does not count.
How Syracuse compares
Syracuse's rent-to-price ratio ranks 33rd of 574 metros and 5th of 14 New York metros in this data. It ranks 107th on DSCR, lower than on rent-to-price, because its 2.01% tax rate is heavier than most metros carry. Over the year to September 2026, prices rose 6.6% and rents rose 5.2%, so the rent-to-price ratio slipped. Rent growth here is ahead of the median metro (+3.5%).
| Syracuse, NY | New York | All 574 metros | |
|---|---|---|---|
| Typical price | $268,949 | $275,114 | $287,147 |
| Single-family rent | $2,219 | $2,251 | $1,771 |
| Rent / price | 0.83% | 0.75% | 0.61% |
| Rent, 1-year change | +5.2% | +5.2% | +3.5% |
| Price, 1-year change | +6.6% | +5.3% | +2.2% |
| Property tax rate | 2.01% | 1.56% | 0.75% |
| DSCR at 80% LTV | 1.08x | 1.03x | 0.91x |
| Metros at 1.05x or better | Yes | 7 of 14 | 126 of 574 |
Homeowners here pay 2.01% of value in property tax, above the New York average of 1.23%. It is what owner-occupants pay on average, including long-time owners and any owner exemptions, so treat it as a floor for a rental you buy now. Zillow's all-homes rent index, which mixes in apartments, is $1,627 here; single-family houses rent 36% higher.
Nearby metros
| Metro | Miles | Price | SFR rent | Rent / price | DSCR |
|---|---|---|---|---|---|
| Auburn, NY | 19 | $235,020 | $1,900 | 0.81% | 1.11x |
| Ithaca, NY | 41 | $350,378 | $2,434 | 0.69% | 0.92x |
| Utica, NY | 56 | $231,322 | $1,942 | 0.84% | 1.16x |
| Binghamton, NY | 59 | $203,310 | $2,583 | 1.27% | 1.67x |
| Oneonta, NY | 65 | $220,097 | $2,282 | 1.04% | 1.49x |
The nearest metro with a better DSCR is Auburn, NY, 19 miles away (1.11x on a typical price of $235,020); the best of these five is Binghamton, NY at 1.67x.
These are metro-wide typicals, not any one property. The lender's appraisal sets the value and market rent for the house you buy, and the lender uses the lower of the lease and that market rent (90% of it on a vacant unit). The rate is a placeholder for the math, not a quote. How the numbers are built.
Sources
- Home values: Zillow Research, Zillow Home Value Index (ZHVI), all homes, middle tier, smoothed and seasonally adjusted, metro level, September 2026 (CSV).
- Rents: Zillow Research, Zillow Observed Rent Index (ZORI), single-family residences, smoothed, metro level, September 2026 (CSV). The all-homes index that includes apartments is used only for the comparison line (CSV).
- Property tax: U.S. Census Bureau, American Community Survey 2024 1-year estimates. The rate is aggregate real estate taxes paid (table B25090, file) divided by aggregate home value (table B25082, file) for owner-occupied homes in the metro area or state.
- Distances between metros: U.S. Census Bureau 2024 Gazetteer file for metro areas (ZIP).
Home value and rent data: Zillow, Zillow Home Value Index and Zillow Observed Rent Index. Zillow does not review or endorse this page. Tax and geography data: U.S. Census Bureau. Loan math by Doors Funded. Refreshed when Zillow publishes a new month.
Buying a rental in Syracuse?
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