Rochester, IN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Rochester Neighborhoods Since 2000




Rochester, IN Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Rochester Housing Market Information

With a population of 6,065, 2,842 total housing units (homes and apartments), and a median house value of $78,982, house prices in Rochester are some of the most affordable in Indiana as well as the nation.

Single-family detached homes are the single most common housing type in Rochester, accounting for 70.49% of the city's housing units. Other types of housing that are prevalent in Rochester include large apartment complexes or high rise apartments ( 13.32%), duplexes, homes converted to apartments or other small apartment buildings ( 7.81%), and a few mobile homes or trailers ( 6.84%).

The most prevalent building size and type in Rochester are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.36% owning and 40.64% renting.

There is a lot of housing in Rochester built from 1970 to 1999 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 between 1940-1969 ( 29.28%). A lesser amount of the housing stock also hails from before 1939 ( 27.23%). There's also some housing in Rochester built between 2000 and later ( 11.95%).

Vacant housing appears to be an issue in Rochester. Fully 18.96% of the housing stock is classified as vacant. Left unchecked, vacant Rochester homes and apartments can be a drag on the real estate market, holding Rochester real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Rochester Home Appreciation Rates

Appreciation rates for homes in Rochester have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 2.11%, which ranks in the top 50% nationwide. This equates to an annual average Rochester house appreciation rate of 0.21%.

Over the last year, Rochester appreciation rates have trailed the rest of the nation. In the last twelve months, Rochester's appreciation rate has been -0.83%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Rochester were at -1.14%, which equates to an annual appreciation rate of -4.49%.

Notably, Rochester's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Indiana, our data show that Rochester's latest annual appreciation rate is lower than 90% of the other cities and towns in Indiana.

Average Home Values

 

Median Home Value:
$78,982

Rochester, IN HOME PRICES

Value Range
> $1,020,000 0.9
$765,001 - $1,020,000 0.0
$510,001 - $765,000 0.6
$408,001 - $510,000 0.9
$306,001 - $408,000 3.3
$204,001 - $306,000 3.8
$102,001 - $204,000 23.0
$51,001 - $102,000 47.9
$0 - $51,000 19.6

Very Low for IN
Very Low for Nation

Value Relative to Nation Value Relative to State
91.1695769365991 92.5339366515837

Number Of Homes And Apartments:
2,842

Rochester Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
15.30% 0.83% 4 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$740 / per month

Homeownership Rate

Homeownership
Owners 59.36
Renters 40.64
Vacant 18.96

Housing Market Details

 

Age of Homes

AGE OF Rochester HOMES
2000 or Newer 11.9
1970 - 1999 31.5
1940 - 1969 29.3
1939 or Older 27.2

Types of Homes

TYPE OF Rochester HOMES
Single-Family 70.5
Townhomes 1.5
Small Apt. Buildings 7.8
Apt. Complexes 13.3
Mobile Homes 6.8
Other 0.0

Home Size

SIZE OF Rochester HOMES
No Bedroom 5.02
1 Bedroom 13.89
2 Bedrooms 28.49
3 Bedrooms 43.43
4 Bedrooms 5.76
5 or more bedrooms 3.42

Popular Neighborhoods in Rochester

Zip Codes in Rochester, IN