A new report shows that while housing affordability around the US is decreasing, Syracuse remains one of the nation's most affordable housing markets.
Officials with the Greater Syracuse Association of Realtors says the median price of a home in Syracuse is $149,000, compared with the national median price of $214,000. They say one of the factors is that the local real estate market has remained fairly stable despite the nationwide market's rollercoaster highs and lows the past decade. Combined with still-low mortgage interest rates, the realtor group says homes in Syracuse are likely in the budget range of many renters - even the young.
The realtor group advises talking to your bank or financial institution to see if you can qualify for financing, and if so, how much home you can afford.
You can read the report on home affordability on the National Association of Home Builder's website.