Rent Tracker
Rent Inflation in Syracuse, NY
The average asking rent in Syracuse, NY is $1,633/month as of 2026-05. That is +5.5% compared to a year ago.
Source: Zillow Observed Rent Index (ZORI) | zillow.com/research
Current Avg Rent
$1,633/mo
as of 2026-05
Year-over-Year Change
+5.5%
24-Month Rent Trend
Monthly ZORI index values for Syracuse, NY.
| Month | Avg Asking Rent | Change from Prior Month |
|---|---|---|
| 2026-05 | $1,633 | +0.93% |
| 2026-04 | $1,618 | -0.68% |
| 2026-03 | $1,629 | +1.24% |
| 2026-02 | $1,609 | -0.31% |
| 2026-01 | $1,614 | +1.83% |
| 2025-12 | $1,585 | +0.13% |
| 2025-11 | $1,583 | +0.57% |
| 2025-10 | $1,574 | -0.44% |
| 2025-09 | $1,581 | +0.96% |
| 2025-08 | $1,566 | +0.64% |
| 2025-07 | $1,556 | +0.32% |
| 2025-06 | $1,551 | +0.19% |
| 2025-05 | $1,548 | +0.39% |
| 2025-04 | $1,542 | +0.52% |
| 2025-03 | $1,534 | -0.26% |
| 2025-02 | $1,538 | +0.59% |
| 2025-01 | $1,529 | +0.59% |
| 2024-12 | $1,520 | +1.54% |
| 2024-11 | $1,497 | +0.47% |
| 2024-10 | $1,490 | +0.13% |
| 2024-09 | $1,488 | -0.20% |
| 2024-08 | $1,491 | +0.27% |
| 2024-07 | $1,487 | +0.61% |
| 2024-06 | $1,478 | — |
Why Rent Inflation Matters
Shelter is the single largest component of the official CPI, accounting for roughly one-third of the index. But the BLS shelter index tends to lag real-market rent changes by 12–18 months because it measures rents paid by all tenants — including long-term renters locked into old leases. ZORI measures asking rents for new leases, making it a timelier signal of where CPI shelter inflation is headed.
When ZORI is rising sharply in your city, it is a leading indicator that official shelter inflation — and therefore overall CPI — will remain elevated in coming months.
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Data Source
Rent data uses the Zillow Observed Rent Index (ZORI), a smoothed measure of typical market-rate asking rents updated monthly by Zillow Research. ZORI covers single-family homes, condos, and co-ops and reflects asking rents for new leases — making it a more timely indicator than the lagged BLS shelter index. zillow.com/research | Money & Prices