I talk to a lot of investors who want to buy around Syracuse. More and more of them are asking me about Cortland. It sits right off I-81, it has a college, and the prices are a lot easier to work with. If you are thinking about buying a rental in Cortland, here is what the numbers look like right now and how I would look at a deal.
Where Cortland Is
Cortland is a small city and the county seat of Cortland County. It is about 40 miles south of Syracuse on I-81, so you can get there from the city in well under an hour. I-81, Route 11 and Route 281 all run through it.
The city had about 17,500 people in the 2020 census. It is also home to SUNY Cortland, which is a big reason investors look here. A college brings a steady flow of renters, and so do the hospital, local employers and young families who want a lower cost of living.
Cortland Home Prices Right Now
Here is what Redfin shows for the city of Cortland:
- The median sale price was about $185,627 in August 2026. That is up 0.3% from a year ago, so basically flat.
- 41 homes sold in August, up from 39 last August.
- Homes spent a median of 34 days on the market, compared to 30 days last year.
- Homes sold for about 101.3% of list price.
- About 55.1% of homes sold above list price.
Redfin gives Cortland a Compete Score of 74 out of 100, which it calls "very competitive."
Across all of Cortland County, things are cooling a bit more. Redfin shows a county median sale price of about $219,509 in September 2026, up 2.1%. But homes took a median of 40 days to sell, up from 26 days a year ago, and they sold for about 97.8% of list.
For an investor, that is a good mix. Prices are low, and there is a little more room to negotiate than there was last year.
What Rents Look Like
Zillow's rental data, updated October 31, 2026, shows an average rent of about $1,200 in Cortland across all home types. Here is the breakdown by size:
- Studio: about $820
- 1 bedroom: about $1,000
- 2 bedroom: about $1,200
- 3 bedroom: about $1,500
- 4 bedroom: about $2,228
Zillow shows 79 rentals available and calls the rental market "cool." Average rent is down about $150 from a year ago. So rents are steady, not climbing fast. I would not count on big rent jumps when you run your numbers.
Quick Math on a Cortland Rental
Here is a simple way to start. Say you buy at the Cortland median of about $185,627 and rent a 3 bedroom at about $1,500 a month. That is $18,000 a year in rent, or a gross yield of about 9.7% before any expenses.
That number is only a starting point. You still need to take out taxes, insurance, water and sewer, repairs, vacancy and property management. In upstate New York, taxes can take a big bite, so I pull them on every property before we write an offer.
What I Look For in a Cortland Deal
Here is how I help my investor clients size up a property:
- Check the taxes first. City, county and school taxes add up. They can make or break your cash flow.
- Look hard at older homes. A lot of Cortland housing is older. Inspect the roof, heating, wiring, plumbing and foundation.
- Think about who will rent it. Student rentals turn over every year. Family rentals usually stay longer. Each one needs a different plan.
- Know the local rules. Ask about rental registration and inspections with the city before you buy.
- Use the slower pace. Homes are taking longer to sell than last year. If a place has been sitting, we may have room on price or closing costs.
- Run conservative rents. With rents down a bit from last year, I would plan on today's rents, not tomorrow's.
Let's Find Your Cortland Rental
I sell 50+ homes per year across Central New York, and I work with a lot of investors. I am an investor myself, so I look at every deal the way you would. If Cortland is on your list, let's run the numbers on a few properties together. Call or text me, Jeremy Allen, at 315-575-5528 and let's find your next rental.
Frequently Asked Questions
What is the median home price in Cortland NY?
The median sale price in the city of Cortland was about $185,627 in August 2026, according to Redfin. That is up just 0.3% from a year ago. Across Cortland County, Redfin shows a median of about $219,509 in September 2026.
How much is rent in Cortland NY?
According to Zillow, the average rent in Cortland was about $1,200 as of October 31, 2026. A 2 bedroom averaged about $1,200 and a 3 bedroom about $1,500. Average rent was down about $150 from a year earlier.
Is Cortland NY a good place to buy a rental property?
Cortland has low prices and a steady renter base, including students at SUNY Cortland. Redfin shows a median sale price of about $185,627, and Zillow shows a 3 bedroom renting for about $1,500. Taxes, repairs and vacancy still need to be in your numbers before you decide.
How fast are homes selling in Cortland NY?
According to Redfin, Cortland homes spent a median of 34 days on the market in August 2026, up from 30 days a year earlier. About 55.1% still sold above list price. In Cortland County overall, homes took about 40 days in September 2026.
How far is Cortland from Syracuse?
Cortland is about 40 miles south of Syracuse on I-81, according to Wikipedia. Route 11 and Route 281 also run through the city.
Sources
- Redfin, 2026 Cortland Housing Market: House Prices & Trends as of August (August 2026)
- Redfin, 2026 Cortland County, NY Housing Market: House Prices & Trends as of September (September 2026)
- Zillow, Average Rental Price in Cortland, NY (updated October 31, 2026)
- Wikipedia, Cortland, New York
