Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 3,023 people, 1,412 houses or apartments, and a median cost of homes of $159,629, house prices in East Syracuse are some of the most affordable in New York as well as the nation.
Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in East Syracuse, accounting for 47.86% of the village's housing units. Other types of housing that are prevalent in East Syracuse include single-family detached homes ( 32.37%), large apartment complexes or high rise apartments ( 18.83%). Villages that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of villages are often walkable and compact, and often have a lively downtown.
People in East Syracuse primarily live in small (one, two or no bedroom) units, chiefly found in duplexes, homes converted to apartments or other small apartment buildings. East Syracuse has a mixture of owner-occupied and renter-occupied housing.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. East Syracuse's housing was primarily built during this period, from the '40s through the '60s. A full 43.51% of the village's housing hails from this era. Other housing ages represented in East Syracuse include homes built before 1939 ( 42.07%) and housing constructed between 1970-1999 ( 14.17%).
Vacant housing appears to be an issue in East Syracuse. Fully 11.08% of the housing stock is classified as vacant. Left unchecked, vacant East Syracuse homes and apartments can be a drag on the real estate market, holding East Syracuse real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Real estate appreciation rates in East Syracuse's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.26% during the period.
Appreciation rates are so strong in East Syracuse that despite a nationwide downturn in the housing market, East Syracuse real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, East Syracuse appreciation rates continue to be some of the highest in America, at 8.46%, which is higher than appreciation rates in 75.21% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in East Syracuse. East Syracuse appreciation rates in the latest quarter were at 1.77%, which equates to an annual appreciation rate of 7.28%.
Relative to New York, our data show that East Syracuse's latest annual appreciation rate is higher than 70% of the other cities and towns in New York.
$159,629
for New york
for nation
1,412
$1,371 / per month