Rochester, MN—55902
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Rochester, MN
As of Oct '25, the median home price in Rochester, MN is $460,000, with a year-over-year change of 3.2%. This indicates that home prices in Rochester, MN are increasing. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $460,000 | 3.2% |
| Single Family | $478,000 | 3.2% |
| Condos | $220,000 | -3.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $268,000 | 2.7% |
3 Bed | $386,000 | 4.0% |
4 Bed | $528,000 | 3.3% |
| 5 Bed | $759,000 | 3.3% |
% of Housing Stock
Rental Trends — Rochester, MN
As of July '25, Rentcast reports the average rent in Rochester, MN is $1,970, with a year-over-year rent change of -5.7%. Per bedroom, the median rent as of July '25 in Rochester, MN is studios: $1,110, 1-bedrooms: $1,320, 2-bedrooms: $1,800, 3-bedrooms: $2,280, 4-bedrooms: $3,110. The most common rental property sizes in Rochester, MN are 1-bedroom and 2-bedroom, accounting for 36.7% and 36.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,650 | $1,970 |
| Studio Rent | $970 | $1,110 |
| 1 Bed Rent | $1,320 | $1,320 |
| 2 Bed Rent | $1,650 | $1,800 |
| 3 Bed Rent | $2,100 | $2,280 |
| 4 Bed Rent | $3,500 | $3,110 |
% of Rental Stock
Property Listings — Rochester, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Rochester, MN is 61. This is a decrease of -10.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $740,000 | -1.0% |
Listing Count | 178 | 12.0% |
| Listings as % of Homes | 0.8% | 12.0% |
Days on Market | 61 | -10.0% |
Demographics — Rochester, MN
As of the latest ACS Survey released in 2023, Rochester, MN has a population of 26,000, which has increased by 3.7% over the past 5 years. Rochester, MN is a moderately popular place for families, as children make up 21.6% of the population. The area has a highly educated workforce, with 65.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 26,000 | 3.7% |
% Under 18 | 21.6% | -9.6% |
% Seniors | 18.6% | 13.4% |
% WFH | 12.3% | 161.7% |
% w/ College Degree | 65.6% | 9.3% |
As of the latest ACS Survey released in 2023, Rochester, MN is a predominantly white area, with 74.9% of the population identifying as white. The white population has shrunk by 7.8% in the last 5 years. The second most common race or ethnicity in Rochester, MN is asian, making up 11.5% of the population. Foreign-born residents account for 13.9% of the population in Rochester, MN, and this percentage has increased by 3.7% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 74.9% | -7.8% |
% Black | 2.2% | -37.1% |
% Hispanic | 7.1% | 65.1% |
% Asian | 11.5% | 40.2% |
% Foreign Born | 13.9% | 3.7% |
Mortgage and Risk — Rochester, MN
According to HUD data as of 2023, there were 489 mortgage originations in Rochester, MN, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in Rochester, MN. Investor activity is low, as 3.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 489 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Rochester, MN
As of 2024, the percent of homes in Rochester, MN under the Section 8 program is 1.5%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Rochester, MN, because HUD payments exceed market rent, while 2-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 53 |
Total Units Section 8 | 53 |
% Rentals under Section 8 | 1.5% |
% Occupied Section 8 | 95.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $10 | $1,320 | $1,330 |
| 2 Bedroom | -$30 | $1,650 | $1,620 |
| 3 Bedroom | $170 | $2,100 | $2,270 |
| 4 Bedroom | -$780 | $3,500 | $2,720 |
Affordability — Rochester, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $460,000 |
| Median Household Income | $112,000 |