|Specialty||# of Agencies|
|Single House or Condo||1|
|Home Owners Association||2|
|Total Local Companies||4|
The average rent for a 3 bedroom house in Syracuse, NY is $1,111.00. When you receive your requested free market assessment, compare the average rent to what a property manager expects your property to rent for before making your decision on which manager to hire.
Searching for a property management company in Syracuse, New York to manage your rental property, real estate investment, community or association? If so, you have come to the right place. All Property Management is the internet's #1 site helping Syracuse, New York property owners and association or community board members to find property managers that best match their management needs. Click on the "Syracuse, NY Property Management Companies" tab and use the "FREE Quote" button below to contact one of our professional property managers in Syracuse, New York for both commercial and residential properties.
|2014 Q2 Data||Vacancy Rate||Rent Variance||Cap Rate||Appreciation||Job Growth||Days on Market|
|75 US City Avg.||8.00%||0.57%||7.78%||5.00%||1.59%||73|
Home to one of the leading research universities in the country, Syracuse University, the Great New York State Fair, the M&T Syracuse Jazz Festival and the Milton J. Rubenstein Museum of Science and Technology, the community of Syracuse is renowned for being a wonderful place to live, work, and play. In fact, Forbes has ranked the city among the best places to raise a family and on their list of America's most affordable cities. Residents also enjoy plenty of recreational opportunities and wide-open green spaces. Syracuse maintains more than 170 parks and recreation areas including Burnet Park, which is home to the first public golf course in the U.S., Rosamond Gifford Zoo, and the Onondaga and Kirk Parks.
Syracuse can also add being a great city for investment in rental real estate to its list of achievements. All Property Management recently released Q2 2014 Rental Ranking Report has placed the city 4th for investment in rental real estate in the Northeastern region.
What data is this based on?
To calculate the All Property Management Rental Ranking Report, we explore a number of different sources, including current government housing and jobs data, as well as housing appreciation forecasts for 75 cities across the United States. We look at specific factors such as home vacancy rates, capitalization rates, home value appreciation rates, annual job growth, change in rental rates, and average days a property stays on the market to determine which U.S. cities are poised to give investors the highest return on their rental investment.
Syracuse, New York ranks quite well in several categories, particularly in home appreciation values and in capitalization rates. Year-over-year the city has seen home values increase 7.9 percent, which ranks the community 4th nationally among the 75 Metropolitan Statistical Areas that All Property Management evaluates for the Rental Ranking Report. Additionally, the capitalization rate for Syracuse rental properties, which looks at average property value and average rental rates to determine the potential rate of return for a property, is 11.59 percent. This is the second-highest capitalization rate among the cities All Property Management evaluates.
What does a high-ranking mean?
Is owning a rental property in Syracuse profitable?
Quite simply, there has never been a better time to consider rental property investment in Syracuse and the surrounding areas. Exceptional capitalization rates and strong home appreciation values indicate that investment in Syracuse rental real estate can be profitable both in the short term and long term.
Thinking about renting out your Syracuse property? Seek the assistance of a local, qualified property manager and automate your rental profit. Get free quotes emailed to you from 5 competing Syracuse property management companies to compare rates and calculate the ROI. Or call 1-877-780-4510 to speak with a representative.
Our team at All Property Management specializes in connecting property owners with property agents in communities across the country. Expert property managers can assist with setting rental rates, advertising your property, screening and managing tenants, collecting rent, managing vendor relationships, and ensuring you are complying with local, state, and federal housing regulations, thus taking the hassle and worry out of managing your property. We look forward to working with you and welcome the opportunity to help you with all your property management needs.