Rochester appreciation rates and housing market information

Rochester housing market information

With a population of 85,392, 35,224 total housing units (homes and apartments), and a median house value of $179,998, Rochester real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in Rochester, accounting for 60.61% of the city's housing units. Other types of housing that are prevalent in Rochester include large apartment complexes or high rise apartments (20.66%), duplexes, homes converted to apartments, or other small apartment buildings (10.28%), row houses and other attached homes (6.15%), and a few mobile homes or trailers (2.28%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Rochester. Owner-occupied housing accounts for 68.40% of Rochester's homes, and 51.58% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Rochester built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Rochester built from 1940-1969 (33.21%). A lesser amount of the housing stock also hails from 1939 and earlier (11.53%), and some were built from 1995 and later (11.53%).

Rochester home appreciation rates

Real estate appreciation rates in Rochester have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 6.41% during the period.

NeighborhoodScout's data show that during the latest twelve months, Rochester home appreciation rates, at -0.02%, have been at or slightly above the national average. In the latest quarter, Rochester's appreciation rate has been 0.34%, which annualizes to a rate of 1.36%.

Relative to Minnesota, our data show that Rochester's latest annual appreciation rate is higher than 50% of the other cities and towns in Minnesota.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Rochester differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Rochester - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Rochester real estate investment or home purchase decisions.