Zumper, an online rental marketplace, has released another National Rent Report and Syracuse has again ranked among the top 100 most expensive rental markets in the nation.
Syracuse sits at number 93 with a median one-bedroom rental price of $890 and two-bedroom rental price of $1,160.
The price of two bedrooms in Syracuse is up 10.5 percent since March of 2022, while the price of one bedroom is down 3.5 percent since this time last year.
In January, Zumper's report had Syracuse ranked at 93 as well, but median rent was $920 a month and $1,180 a month for a one- and two- bedroom apartment respectively — a $30 decrease and a $20 decrease within approximately two months.
Zumper CEO Anthemos Georgiades said despite the collapse of two banks and yet another interest rate hike—the rental market continues to inch towards normal, "We’re seeing the first sprouts of normalcy after three years of wild unpredictability. The pandemic brought about a Grand Reshuffling as Americans tried out new cities, traveled while working remotely and upgraded their living situations while they felt confident in the economy. Those trends will take time to unwind fully, but the days of steep price hikes across the board are behind us.”
The one-bedroom median rent fell just over six percent in Buffalo, NY, making it one of this month's top fallers and giving it an overall ranking of 73. Rochester, NY on the other hand has gone seen prices increase and jumped three spots to number 79.