The county seat of Onondaga County, Syracuse, New York, is fifth-most populated city in the state. In a region that provides a home to over one million people, Syracuse is considered a hub both educationally and economically. It features Syracuse University, many sites for conventions and seminars, and numerous businesses. Also home to a number of museums, art houses and music venues and host to the New York State Fair, Syracuse provides a wealth of entertainment options for residents and tourists alike. With low median housing prices and cost of living numbers that are lower than the national average, it's little wonder that Syracuse made Forbes' list of Top 10 Places to Raise a Family in 2010.
Syracuse, NY is a great place for affordable rent-to-own homes! With a median household income of over $38,893 and a median rent of $830, the Syracuse, NY rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Syracuse, NY. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
Syracuse, NY is seeing rapid growth and Syracuse, NY's' housing market remains optimal with an average home price that is -100% below the 2022 national average. Syracuse, NY is part of Onondaga county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2022 for county Onondaga is 2.6% which is above the national average, which is 0.99%.
Syracuse, NY has a walk score of
Syracuse, NY has a bike score of
The state tax rate is 4.0 to 10.9% on top of the federal tax rate of 10 to 37%.