Living the dream: Central New York’s affordable housing

No place like home. $149,900 for this 3 bedroom, 2 bath home in Salina, NY.

Syracuse and Central New York are hard to beat when it comes to finding a great place to live. Consider the following recent news: In 2017, US News & World Report ranked Syracuse no. 16 on its list of Best Affordable Places to Live in the country.

In addition, that feature ranked Syracuse no. 48 on its list of Best Places to Live in the United States.

Meanwhile, bestplaces.net ranked Syracuse’s cost of living at 79 out of the U.S. average of 100. In other words, Syracuse is a more affordable place to live than many other cities across the nation.

For example, compare the median home sales price in Central New York with other regions of the country. In Onondaga County in 2019, the median sales price for a house was $156,000. Compare that price to the median for New York at $280,000. Or the median sales price in the Midwest at $209,900. Even costlier, the median sales price in the West was $410,700 and in the South, it was $234,900, according to the Greater Syracuse Association of REALTORS, the NYS Association of REALTORS and the National Association of REALTORS.

“This a terrific time to buy,” says John Arquette, Real Estate Broker and Owner of Century 21 Arquette Properties. “The availability of historically low interest rates and continued strong demand for housing make homeownership a wise investment.”

Be ready

If you’re buying a home, be prepared to act quickly. Once you secure financing for your home, be ready to make a deposit with your purchase offer, says Arquette.

“Next establish a relationship with a local real estate agent. They get information on new listings faster than any website including Zillow.”

Consequently, here’s a look at what kind of house $150,000 will buy in Central New York compared to other cities across the country.

A 3-bedroom, 1.1 bath home for $150,000 in Camillus.

 

Backyard view
This 4-bedroom, 2-bath home goes for $150,000 in Manlius.
Backyard view with deck.

 

$144,900 for this 2-bedroom, 1 bath home in Manlius.
View of the kitchen.

 

 

View of the living room.
A 3-bedroom, 1.1 bath home for sale at $150,000 in Salina.
View of the kitchen.

 

 

Compare with this Portland, Or, 2-bedroom, 2-bath home for $163,939.
Or this 2-bedroom, 1-bath house in Cleveland, OH, for $149,900.
This 3-bedroom, 1-bath home goes for $148,517 in Philadelphia, PA.
a 3-bedroom, 2-bath home in Detroit, MI goes for $147,500.

 

And this 2-bedroom, 1-bath home in Philadelphia, PA, is $158,000.

 

Compare with this 2-bedroom, 1-bath home in Orlando, FL, for $150,000.
Or how about this 4-bedroom, 4-bath home in Detroit, MI, for $150,000?