Rochester, MN—55904
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 $281,000, with a year-over-year change of 2.7%. This indicates that home prices in Rochester, MN are increasing. According to Zillow, the 1-year price projection is 0.8%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $281,000 | 2.7% |
| Single Family | $284,000 | 3.3% |
| Condos | $192,000 | 2.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $163,000 | 6.5% |
2 Bed | $229,000 | 3.6% |
3 Bed | $271,000 | 3.4% |
4 Bed | $353,000 | 3.2% |
| 5 Bed | $469,000 | 3.5% |
% of Housing Stock
Rental Trends — Rochester, MN
As of July '25, Rentcast reports the average rent in Rochester, MN is $1,560, with a year-over-year rent change of 2.6%. Per bedroom, the median rent as of July '25 in Rochester, MN is studios: $1,050, 1-bedrooms: $1,290, 2-bedrooms: $1,300, 3-bedrooms: $1,650, 4-bedrooms: $2,630. The most common rental property sizes in Rochester, MN are 1-bedroom and 2-bedroom, accounting for 37.3% and 35.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,560 |
| Studio Rent | $900 | $1,050 |
| 1 Bed Rent | $1,220 | $1,290 |
| 2 Bed Rent | $1,220 | $1,300 |
| 3 Bed Rent | $1,550 | $1,650 |
| 4 Bed Rent | $2,400 | $2,630 |
% 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 36. This is a increase of 37.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $339,000 | 2.0% |
Listing Count | 85 | -11.0% |
| Listings as % of Homes | 0.3% | -11.0% |
Days on Market | 36 | 37.0% |
Demographics — Rochester, MN
As of the latest ACS Survey released in 2023, Rochester, MN has a population of 29,700, which has increased by 9.8% over the past 5 years. Rochester, MN is a moderately popular place for families, as children make up 24.7% of the population. The area has a moderately educated workforce, with 37.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 29,700 | 9.8% |
% Under 18 | 24.7% | 2.9% |
% Seniors | 14.7% | 15.7% |
% WFH | 8.9% | 187.1% |
% w/ College Degree | 37.2% | 39.8% |
As of the latest ACS Survey released in 2023, Rochester, MN is a predominantly white area, with 74.4% of the population identifying as white. The white population has grown by 0.5% in the last 5 years. The second most common race or ethnicity in Rochester, MN is black, making up 9.6% of the population. Foreign-born residents account for 11.4% of the population in Rochester, MN, and this percentage has decreased by 2.6% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 74.4% | 0.5% |
% Black | 9.6% | -12.7% |
% Hispanic | 7.8% | -6.0% |
% Asian | 3.3% | -23.3% |
% Foreign Born | 11.4% | -2.6% |
Mortgage and Risk — Rochester, MN
According to HUD data as of 2023, there were 507 mortgage originations in Rochester, MN, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 24.0% above 90% LTV (very high). This implies large mortgage risk in Rochester, MN. Investor activity is low, as 6.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 507 |
% Conventional Loans | 87.0% |
% Government Loans | 13.0% |
% Investor Loans | 6.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Rochester, MN
As of 2024, the percent of homes in Rochester, MN under the Section 8 program is 10.8%. 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. 2-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 1-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 550 |
Total Units Section 8 | 437 |
% Rentals under Section 8 | 10.8% |
% Occupied Section 8 | 89.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$140 | $1,220 | $1,080 |
| 2 Bedroom | $100 | $1,220 | $1,320 |
| 3 Bedroom | $300 | $1,550 | $1,850 |
| 4 Bedroom | -$180 | $2,400 | $2,220 |
Affordability — Rochester, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $281,000 |
| Median Household Income | $76,400 |