Rochester, MN
Olmsted County · Pop. 124,488
Ranked #69 of 243 cities
50Moderate
Median Home Price
🏠$300K
2.5% YoY
Median Rent
🔑$1,300
2.0% YoY
Median Income
💰$72K
Rent Burden
📊26.0%
% of income to rent
Income to Buy
🏦$86K
annual income needed
Income to Rent
📝$52K
annual income needed
Price-to-Income
⚖️4.2x
Homeownership
🏡58.0%
Rent vs. Buy
Buy
$1,597/mo
Est. mortgage (7%, 20% down)
Need $86K/yr income
Rent
$1,300/mo
Median rent
Need $52K/yr income
How Rochester Compares
| Metric | Rochester | Minnesota | National |
|---|---|---|---|
| Home Price | $300K | $329K | $410K |
| Rent | $1,300 | $1,264 | $1,500 |
| Income | $72K | $85K | $75K |
| Rent Burden | 26.0% | 29.0% | 30.0% |
Key Takeaways
- • Home prices in Rochester are 27% lower than the national average.
- • Rent is 13% lower than the national average.
- • You need an income of $86K to comfortably buy a home here.
- • The homeownership rate is 58.0%, compared to 65.0% nationally.