Real Estate Investing in Syracuse, New York (13224)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 13224 (Syracuse, NY)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 8.0% vacancy may signal weakening demand.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
What’s happening in Syracuse, NY (13224)?
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Market Analysis: 13224 Syracuse
Investors eyeing 13224 need to respect the fundamentals at play. Home values of $288K come alongside slower price movement and elevated management overhead.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $288K asset, 13224 is the wrong submarket. If the plan prices in friction, the yield can still work.
Nearby ZIPs in Syracuse have seen price recovery that 13224 has not matched. Onondaga County data supports the view that the spread is structural rather than temporary.
The 13224 ZIP's population of 8,638 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that records the need for careful underwriting.
Strategically, 13224 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Syracuse:
Property Strategy for 13224
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $193,770 | $1,380 | 5.1% | +11.2% | $96,885 |
| 3BR | $229,775 | $1,680 | 5.3% | +10.4% | $76,592 |
| 4BR | $342,964 | $1,830 | 3.8% | +10.3% | $85,741 |
| 5BR | $418,463 | — | — | +10.4% | $83,693 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 13224 Compare?
| Metric | 13224 | Syracuse | Syracuse, NY | New York |
|---|---|---|---|---|
| Home Value | $288,411 | $122,370 | N/A | $505,608 |
| 5-Year CAGR | 10.0% | 8.6% | N/A | 6.6% |
| Avg Rent | $1,423 | $1,469 | N/A | - |
| Cap Rate | 3.9% | 5.1% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 13224 (Syracuse, NY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $288,411 |
| Monthly Rent | $1,423 |
| Price-to-Rent | 16.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.9% |
| Cap Rate | 3.9% |
| 5-Year IRR | 13.9% |
📈 Home Appreciation
| 1-Year | +8.9% ▲ |
| 3-Year CAGR | +10.8% ▲ |
| 5-Year CAGR | +10.0% ▲ |
| 10-Year CAGR | +8.2% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.9%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 13224
Population: 8,638
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 13224
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
EDWARD SMITH K-8 SCHOOL
INSTITUTE OF TECHNOLOGY AT SYRACUSE CENTRAL
LINCOLN MIDDLE SCHOOL
STEAM AT DR KING ELEMENTARY SCHOOL
JAMESVILLE-DEWITT HIGH SCHOOL
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,551 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What are vacancy rates like in Syracuse, NY?
Syracuse, NY carries elevated vacancy risk. Expect measured absorption at market rents of $1,423/mo.
What is the renter demographic in Syracuse, NY?
Tenant demand in Syracuse, NY is solid. The local workforce $1,423/mo rents across most rental classes.
Is Syracuse, NY a smart market for rental property?
Syracuse, NY reflects an investability rating of 3.0/5, with median home values near $288K and average rents around $1,423/mo. That combination puts it in the notable tier for investor interest.
How much does a house cost in Syracuse, NY?
Median home price in Syracuse, NY is near $288K, with a 5-year CAGR of 0.0%. Prices have been predictable and supportive of buy-and-hold strategies.
Which real estate strategy fits Syracuse, NY?
Syracuse, NY investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($288K prices, $1,423/mo rents) make it a reasonable choice.
You know 13224 now. You don’t know where it ranks.
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How 13224 ranks in Syracuse, NY
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