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 about Scout's Real Estate Data
With a population of 207,274, 92,228 total housing units (homes and apartments), and a median house value of $155,779, 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 43.81% 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 ( 25.93%), large apartment complexes or high rise apartments ( 23.42%), and a few row houses and other attached homes ( 6.51%).
People in Rochester primarily live in small (one, two or no bedroom) single-family detached homes. Rochester has a mixture of owner-occupied and renter-occupied housing.
The housing in Rochester was primarily built before 1939 ( 54.12%), 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 ( 25.38%), followed by between 1970-1999 ( 15.98%). There's also some housing in Rochester built between 2000 and later ( 4.53%).
Vacant housing appears to be an issue in Rochester. Fully 10.68% 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.
In the last 10 years, Rochester has experienced some of the highest home appreciation rates of any community in the nation. Rochester real estate appreciated 118.97% over the last ten years, which is an average annual home appreciation rate of 8.15%, putting Rochester in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Rochester definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Rochester that despite a nationwide downturn in the housing market, Rochester real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Rochester appreciation rates continue to be some of the highest in America, at 10.48%, which is higher than appreciation rates in 87.54% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Rochester. Rochester appreciation rates in the latest quarter were at 2.34%, which equates to an annual appreciation rate of 9.69%.
Relative to New York, our data show that Rochester's latest annual appreciation rate is higher 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.
$155,779
for New york
for nation
92,228
$1,767 / per month