Low dielectric constant materials play a key role in modern electronics. In this regard, hollow particle reinforced polymer matrix composites called syntactic foams may be useful due to their low and tailored dielectric constant. In the current study, vinyl ester matrix/glass hollow particle syntactic foams are analyzed to understand the effect of hollow particle wall thickness and volume fraction on the dielectric constant of syntactic foams. The dielectric constant is found to decrease with increase in the hollow particle volume fraction and decrease in the wall thickness. Theoretical estimates are obtained for the dielectric constant of syntactic foams. Parametric studies are conducted using the theoretical model. It is found that a wide range of syntactic foam compositions can be tailored to have the same dielectric constant, which provides possibility of independently tailoring density and other properties based on the requirement of the application.