Posted 2/15/2024, 11:01:00 AM
Syracuse Rents Soar as Housing Shortage Makes City the Most Competitive Rental Market in the U.S.
- Syracuse has the most competitive rental market in the US due to severe housing shortage
- Over 50% of Syracuse renters are cost-burdened, spending 30%+ of income on rent
- Median rent for 2-bedroom apartments in Syracuse rose almost 16% from 2022 to 2023
- Other unexpected cities like Greensboro, NC and Toledo, OH also have top 10 most competitive markets
- Shortage of new housing construction is making previously affordable areas unaffordable