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Cost of Living in Syracuse

Is it better to rent or buy in Syracuse? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$79,178
$1,115/mo

Median in area: $1,115

$194,616

Median in area: $194,616

$38,923

If you Rent

🔑
$1,334 /mo
Base Rent$1,115
Est. Utilities$219
% of Income20.2%
Pre-tax Residual$5,264

If you Buy

🏠
$1,670 /mo
P&I (6.5%)$984
Taxes & Ins$467
Est. Utilities$219
% of Income25.3%
Pre-tax Residual$4,928

Cost of Living FAQs

Is it cheaper to rent or buy in Syracuse?›

Based on median housing data, renting is currently more affordable on a monthly basis in Syracuse. The estimated all-in monthly cost for renting is $1,334, while owning a median-priced home with a 20% down payment is roughly $1,670 per month (a difference of $336).

How much do utilities cost in Syracuse?›

The average monthly utility cost (electricity and natural gas) for a typical home in Syracuse is approximately $219. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Syracuse?›

To comfortably afford the median rent and utilities in Syracuse without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $53,360 per year.