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Syracuse one-bedroom apartment rent prices fell nearly 15 percent from a year ago

SYRACUSE — The median rental price for most apartments in the Syracuse metro area fell almost 15 percent in January compared to the year-prior month. That’s according to the February 2020 national rent report from Zumper, an apartment-rental listings website. The median rental price of one-bedroom apartments in the Syracuse region declined 14.9 percent to […]

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SYRACUSE — The median rental price for most apartments in the Syracuse metro area fell almost 15 percent in January compared to the year-prior month.

That’s according to the February 2020 national rent report from Zumper, an apartment-rental listings website.

The median rental price of one-bedroom apartments in the Syracuse region declined 14.9 percent to $800 in January 2020 compared to January 2019. Rental rates for two-bedroom units in the area slipped 5 percent to $950 this January compared to the year-ago month.

Syracuse now ranks tied for the 81st most expensive rental market in the nation, down four places from the January Zumper report.

The Zumper National Rent Report analyzes rental data from more than 1 million active listings across the U.S. The company aggregates the data on a monthly basis to calculate median asking rents for the top 100 metro areas by population.

In comparison, the median rental price in Rochester increased 15.5 percent to $970 for one-bedroom apartments and rose 13.3 percent to $1,110 for two-bedroom units, per Zumper. Rochester ranks tied for the 57th most expensive rental market in the nation, up four spots from last month’s report.

Journal Staff