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Syracuse New York Real Estate - Real Estate in Syracuse, New York

people home price opportunity

Around 140,000 people call the mini metropolitan area of Syracuse, New York their home. As it is at the center of middle New York State, the town of Syracuse hosts a great number of expos, gatherings, and even the New York State Fair every year. As Syracuse continues to develop as a city, there will undoubtedly be more opportunity for great real estate values to be recognized.

The actual town of Syracuse is heavily populated by people in their early 20s due to the presence of Syracuse University, one of the top colleges scholastically in the state. However, there are plenty of people of all ages that reside in Syracuse.

One nice aspect of Syracuse is the low rent that an apartment/condominium seeker will pay for a place of their own. With rent around $550, it is very affordable for people to find cheap complexes to dwell in. The median price for homes has always been a staple of the Syracuse area, as the price has just recently risen above $100,000. For many years, the average price for a Syracuse home was around $80,000-$85,000. The recent housing market collapse does seem to have affected Syracuse an overabundance, as they continue to sell houses relatively cheaply at a constant rate.

Syracuse does have many old homes (built before the 1940s), which is directly results in the lower home prices. As it has been the entertainment hub of central New York for many years, Syracuse has not really bore witness to much in the way of expansion or retraction over the years.

As a majority of the houses in Syracuse are valued at under $100,000 and renters pay, on average, under $600 per month, Syracuse, New York provides real estate investors with a great opportunity to find abnormal levels of value in available properties.

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