Syracuse, Utah Housing Market Prices
Syracuse Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 93% below the Utah median$33,816
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Median rent 23% above the Utah median$1,835
Housing Market Overview
| Metric | Syracuse | Utah Avg | US Average |
|---|---|---|---|
| Median Home Price | $33,816 | $498,552 | $248,835 |
| Price Trend (Annual %) | 72.1% | 11.3% | 7.5% |
| Median Gross Rent | $1,835 | $1,495 | $1,407 |
| Rent Trend (Annual %) | 5.3% | 6.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Syracuse is about 93% lower than in Utah. Rent is about 23% higher than the Utah average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Syracuse, up about 72.1% and 5.3% a year respectively. Home prices are changing faster.
Median rent in Syracuse rose about 45.1% between 2015 and 2024, from $1,264 to $1,835. Over the same span, rent in Utah rose about 68.7%.
Affordability
On average, housing unit costs 0.3 yearly household incomes in Syracuse.
Buying the median-priced home in Syracuse costs roughly 1.5 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Syracuse. The price-to-rent ratio in Utah is about 27.8.
| Metric | Syracuse | Utah Avg | US Average |
|---|---|---|---|
| Median Home Price | $33,816 | $498,552 | $248,835 |
| Median Household Income | $128,531 | $95,466 | $80,455 |
| Price-to-Income Ratio | 0.3 | 5.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Syracuse fell about 92.1%, while median household income rose about 76.6% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Syracuse | Utah Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 86.4% | 64.6% | 58.5% |
| Rental Rate | 11.9% | 27.3% | 31.2% |
| Vacancy Rate | 1.6% | 8.1% | 10.2% |
| Median Tenure (years) | 12.0 | 13.0 | 15.0 |
| Median Year Moved In | 2014 | 2013 | 2011 |
Syracuse has a homeownership rate of 86.4%, higher than the Utah average of 64.6%. Its housing vacancy rate is 1.6%, compared with 8.1% in Utah.
Housing Stock
| Metric | Syracuse | Utah Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.57 people | 2.97 people | 2.53 people |
| Median Structure Built Year | 2003 | 1989 | 1978 |
| Median Number of Rooms | 8.0 | 6.4 | 5.5 |
The typical housing unit in Syracuse was built around 2003. On average, 3.6 people live in a home with about 8.0 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Syracuse, Utah.
What is the median home price in Syracuse, Utah?
The median home price in Syracuse, Utah is $33,816, lower than the Utah average of $498,552.
What is the average home price in Syracuse, Utah?
The typical home price in Syracuse, Utah, reported as the median sale price, is $33,816. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Syracuse, Utah?
The median gross rent in Syracuse, Utah is $1,835 per month, higher than the Utah average of $1,495.
What was the median gross rent in Syracuse in 2020?
In 2020, the median gross rent in Syracuse, Utah was $1,536 per month.
What is the price-to-rent ratio in Syracuse, Utah?
The price-to-rent ratio in Syracuse, Utah is about 1.5, meaning it would take roughly 1.5 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Syracuse.
Are home prices or rent rising faster in Syracuse, Utah?
Both home prices and rent are rising in Syracuse, up about 72.1% and 5.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Syracuse, Utah?
86.4% of households in Syracuse, Utah own their home, higher than the Utah average of 64.6%.
What is the vacancy rate in Syracuse, Utah?
The housing vacancy rate in Syracuse, Utah is 1.6%, lower than the Utah average of 8.1%.
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