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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
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.
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.
|$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|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Rochester HOMES|
|2000 or Newer||11.9|
|1970 - 1999||31.5|
|1940 - 1969||29.3|
|1939 or Older||27.2|
|TYPE OF Rochester HOMES|
|Small Apt. Buildings||7.8|
|SIZE OF Rochester HOMES|
|5 or more bedrooms||3.42|