Rochester, NY 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 Q3 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Rochester Housing Market Information

With 205,695 people, 86,057 houses or apartments, and a median cost of homes of $93,170, 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 44.90% 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 ( 26.86%), large apartment complexes or high rise apartments ( 22.58%), and a few row houses and other attached homes ( 5.32%).

Rochester is dominated by renter-occupied one, two, or no bedrooms apartments. 65.40% of Rochester's dwellings are rentals.

The housing in Rochester was primarily built before 1939 ( 53.18%), 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 ( 28.64%), followed by between 1970-1999 ( 15.12%). There's also some housing in Rochester built between 2000 and later ( 3.06%).

Vacant housing appears to be an issue in Rochester. Fully 13.52% 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 32.15%, which ranks in the top 50% nationwide. This equates to an annual average Rochester house appreciation rate of 2.83%.

NeighborhoodScout's data show that during the latest twelve months, Rochester's appreciation rate, at 4.19%, has been at or slightly above the national average. In the latest quarter, Rochester's appreciation rate has been 2.28%, which annualizes to a rate of 9.42%.

Importantly, this makes Rochester one of the highest appreciating communities in the nation for the latest quarter, and 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 higher than 70% 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.

Average Home Values

 
info

Median Home Value:
$93,170

Rochester, NY HOME PRICES

> $1,232,000
0.4%
0.4%
$924,001 - $1,232,000
0.5%
0.5%
$616,001 - $924,000
1.1%
1.1%
$493,001 - $616,000
2.3%
2.3%
$370,001 - $493,000
2.4%
2.4%
$246,001 - $370,000
5.1%
5.1%
$123,001 - $246,000
20.5%
20.5%
$62,001 - $123,000
44.8%
44.8%
$0 - $62,000
22.9%
22.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Very Low for NY

Value Relative To Nation

Number Of Homes And Apartments:
86,057

Rochester Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
Compared To
America*
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
63.47% 2.40%
2
5
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$1,078 / per month

Homeownership Rate

Owners
34.6%
34.6%
Renters
65.4%
65.4%
Vacant
13.5%
13.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
3.1%
3.1%
1970 - 1999
15.1%
15.1%
1940 - 1969
28.6%
28.6%
1939 or Older
53.2%
53.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
44.9%
44.9%
Townhomes
5.3%
5.3%
Small Apt. Buildings
26.9%
26.9%
Apt. Complexes
22.6%
22.6%
Mobile Homes
0.3%
0.3%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
4.8%
4.8%
1 Bedroom
21.3%
21.3%
2 Bedrooms
27.3%
27.3%
3 Bedrooms
32.8%
32.8%
4 Bedrooms
11.5%
11.5%
5 or more bedrooms
2.3%
2.3%
0.0% 100.0%
% OF HOMES