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 206,284 people, 86,180 houses or apartments, and a median cost of homes of $92,627, house prices in Rochester are some of the most affordable in New York as well as the nation.
Single-family detached homes are the single most common housing type in Rochester, accounting for 44.83% of the city's housing units. Other types of housing that are prevalent in Rochester include duplexes, homes converted to apartments or other small apartment buildings ( 27.02%), large apartment complexes or high rise apartments ( 22.29%), and a few row houses and other attached homes ( 5.53%).
Rochester is dominated by renter-occupied one, two, or no bedrooms apartments. 65.17% of Rochester's dwellings are rentals.
The housing in Rochester was primarily built before 1939 ( 53.53%), making the housing stock in Rochester some of the oldest overall in America, although there is a range of ages of homes in Rochester. The next most important housing age is between 1940-1969 ( 28.30%), followed by between 1970-1999 ( 15.17%). There's also some housing in Rochester built between 2000 and later ( 3.00%).
Vacant housing appears to be an issue in Rochester. Fully 12.98% 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 24.53%, which ranks in the top 50% nationwide. This equates to an annual average Rochester house appreciation rate of 2.22%.
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 1.27%, 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 3.59%, which equates to an annual appreciation rate of 15.14%.
Importantly, NeighborhoodScout’s exclusive research found that Rochester's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.
Relative to New York, our data show that Rochester's latest annual appreciation rate is lower than 50% of the other cities and towns in New York.
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 2000, to assist you in making the best Rochester real estate investment or home purchase decisions.
|$907,001 - $1,209,000||0.6|
|$604,001 - $907,000||1.0|
|$483,001 - $604,000||2.0|
|$362,001 - $483,000||2.1|
|$242,001 - $362,000||4.9|
|$121,001 - $242,000||20.8|
|$60,001 - $121,000||45.5|
|$0 - $60,000||22.8|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2019 Q2 - 2019 Q3
Last 12 Months:
2018 Q3 - 2019 Q3
Last 2 Years:
2017 Q3 - 2019 Q3
Last 5 Years:
2014 Q3 - 2019 Q3
Last 10 Years:
2009 Q3 - 2019 Q3
2000 Q1 - 2019 Q3
|* 10 is highest|
|AGE OF Rochester HOMES|
|2000 or Newer||3.0|
|1970 - 1999||15.2|
|1940 - 1969||28.3|
|1939 or Older||53.5|
|TYPE OF Rochester HOMES|
|Small Apt. Buildings||27.0|
|SIZE OF Rochester HOMES|
|5 or more bedrooms||2.16|