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Rochester real estate market overview
- Average Monthly Rent: $1,278
- Home Price/Value Percentage Change: 9.4%
- Median Home Value: $212,360
- Best Time To Sell a Home: August
- Affordability Index: 83
- Days To Sell a House: 57
- Job Market: Weak
- Public School Ranking: 17
Location and weather
The lakeside city of Rochester is beautifully located in the Finger Lakes Region of New York. Rochester is the seat of Monroe County, in the north-western region of New York. This small-town city has access to big city amenities, which is one of the benefits of living in this particular area of New York. While Rochester might be a popular tourist destination, it's also a great place for future residents looking for a city with unique history, scenic out-door attractions, impressive restaurants, quality housing, and top-rated schools.
Like many cities in New York, Rochester's winters are freezing, snowy, and windy but summers can get as warm as mid-80 degrees. Overall, the city is typically cloudy year-round.
Population, job market and cost of living
Rochester has a population of 211,556, with a growth rate of 0.04% annually.
The job market has decreased by -5.2% over the last year. In ten years, job growth is predicted to be 20.36%. University of Rochester, the Rochester Institute of Technology, and St. John Fisher Colleges are some of the institutions located here that help drive the education and research sectors of the economy. Rochester has also seen new-found success in the imaging, optics, and photonics industries. Other large enterprises include biotechnology, food-and-beverage manufacturing, and green innovation.
Rochester is more affordable than other New York cities, with a lower overall cost of living than New York's average and the US average cost of living.
Rochester real estate market details
- The Neighborhoods of the Arts
- Highland Park
- South Wedge
- Cobbs Hill
- Park Avenue
The average monthly rent in Rochester is $1,278 for an average apartment size of 891 sq. feet.
There has been a 9.4% increase in median home value over the last year. As of 2022, the median home value is $212,360.
On average, homes in Rochester sell after 57 days on the market.
In August, homes sell for the most amount of money. In July, homes sell the quickest.
The affordability index in Rochester is 83. This number indicates moderate affordability in this city.
The top ranked public schools are Allen Creek School, Twelve Corners Middle School, Brighton High School, Indian Landing Elementary School and Dake Junior High School. This information is based on general educator statistics, school attendance, and the US Department of Education.