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Real Estate Prices & Overview

Downtown median real estate price is $211,194, which is less expensive than 85.5% of New York neighborhoods and 78.0% of all U.S. neighborhoods.

The average rental price in Downtown is currently $1,929, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 73.1% of New York neighborhoods.

Downtown is an urban neighborhood (based on population density) located in Syracuse, New York.

Downtown real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Downtown neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built before 1940.

Real estate vacancies in Downtown are 5.6%, which is lower than one will find in 62.6% of American neighborhoods. Demand for real estate in Downtown is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Syracuse, the Downtown neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

In a nation where 1 out of every 4 children lives in poverty, the Downtown neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, of particular note, 8.9% of the people in the Downtown neighborhood currently reside in a correction facility, held due to punishment for a crime.

Real Estate

The Downtown neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 97.8% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.

In addition, one of the really unique and interesting things about the look and setting of the Downtown neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 93.6% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 98.7% of all neighborhoods in America.

Furthermore, 97.9% of the real estate in the Downtown neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.

Modes of Transportation

In the Downtown neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 31.8% of residents here. This is a higher proportion of walking commuters than we found in 99.2% of American neighborhoods. Get ready to put on your walking shoes if you move here!

Car Ownership

Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the Downtown neighborhood have a highly unusual car ownership. 24.6% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 96.3% of U.S. neighborhoods.

Migration / Stability

The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the Downtown neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 98.8% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

Diversity

Did you know that the Downtown neighborhood has more Czechoslovakian and Haitian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 0.6% of this neighborhood's residents have Czechoslovakian ancestry and 2.7% have Haitian ancestry.

Downtown is also pretty special linguistically. Significantly, 0.8% of its residents five years old and above primarily speak Urdu, which is the national language of Pakistan, at home. While this may seem like a small percentage, it is higher than 96.7% of the neighborhoods in America.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Downtown neighborhood in Syracuse are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 71.3% of U.S. neighborhoods. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Downtown neighborhood, 68.9% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 13.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (11.9%), and 5.8% in manufacturing and laborer occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Downtown neighborhood is English, spoken by 80.7% of households. Other important languages spoken here include Spanish, Polish and Chinese.

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Downtown neighborhood in Syracuse, NY, residents most commonly identify their ethnicity or ancestry as Italian (13.6%). There are also a number of people of Irish ancestry (13.3%), and residents who report Asian roots (11.1%), and some of the residents are also of German ancestry (8.5%), along with some Puerto Rican ancestry residents (8.3%), among others. In addition, 13.7% of the residents of this neighborhood were born in another country.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Downtown neighborhood spend under 15 minutes commuting one-way to work (55.0% of working residents), one of the shortest commutes across America.

Here most residents (35.9%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (31.8%) and 10.3% of residents also ride the bus for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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