Rochester, MN—55906
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 $385,000, with a year-over-year change of 3.4%. This indicates that home prices in Rochester, MN are increasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $385,000 | 3.4% |
| Single Family | $394,000 | 3.7% |
| Condos | $164,000 | 3.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $160,000 | 3.9% |
2 Bed | $245,000 | 4.3% |
3 Bed | $307,000 | 3.4% |
4 Bed | $464,000 | 3.8% |
| 5 Bed | $584,000 | 3.7% |
% of Housing Stock
Rental Trends — Rochester, MN
As of July '25, Rentcast reports the average rent in Rochester, MN is $2,180, with a year-over-year rent change of 23.2%. Per bedroom, the median rent as of July '25 in Rochester, MN is studios: $1,300, 1-bedrooms: $1,290, 2-bedrooms: $1,260, 3-bedrooms: $2,380, 4-bedrooms: $3,020. The most common rental property sizes in Rochester, MN are 1-bedroom and 2-bedroom, accounting for 32.4% and 29.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $2,180 |
| Studio Rent | $1,300 | $1,300 |
| 1 Bed Rent | $1,300 | $1,290 |
| 2 Bed Rent | $1,280 | $1,260 |
| 3 Bed Rent | $1,750 | $2,380 |
| 4 Bed Rent | $2,550 | $3,020 |
% 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 59. This is a increase of 12.0% 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 17.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $442,000 | -14.0% |
Listing Count | 80 | -8.0% |
| Listings as % of Homes | 0.6% | -8.0% |
Days on Market | 59 | 12.0% |
Demographics — Rochester, MN
As of the latest ACS Survey released in 2023, Rochester, MN has a population of 20,100, which has increased by 7.1% over the past 5 years. Rochester, MN is a moderately popular place for families, as children make up 21.4% of the population. The area has a highly educated workforce, with 53.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 17.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 20,100 | 7.1% |
% Under 18 | 21.4% | -0.9% |
% Seniors | 18.0% | 8.4% |
% WFH | 17.6% | 259.2% |
% w/ College Degree | 53.3% | 4.1% |
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 6.4% in the last 5 years. The second most common race or ethnicity in Rochester, MN is asian, making up 8.2% of the population. Foreign-born residents account for 11.1% of the population in Rochester, MN, and this percentage has decreased by 12.6% 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 | 74.9% | -6.4% |
% Black | 6.5% | 109.7% |
% Hispanic | 4.6% | -24.6% |
% Asian | 8.2% | 18.8% |
% Foreign Born | 11.1% | -12.6% |
Mortgage and Risk — Rochester, MN
According to HUD data as of 2023, there were 413 mortgage originations in Rochester, MN, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 24.0% 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. 4.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 413 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 4.0% |
Loan Activity
Rentals and Section 8 — Rochester, MN
As of 2024, the percent of homes in Rochester, MN under the Section 8 program is 19.7%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Rochester, MN, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 417 |
Total Units Section 8 | 417 |
% Rentals under Section 8 | 19.7% |
% Occupied Section 8 | 88.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$350 | $1,300 | $950 |
| 2 Bedroom | -$120 | $1,280 | $1,160 |
| 3 Bedroom | -$120 | $1,750 | $1,630 |
| 4 Bedroom | -$600 | $2,550 | $1,950 |
Affordability — Rochester, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $385,000 |
| Median Household Income | $104,000 |