Rochester, MN—55901
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 $317,000, with a year-over-year change of 3.0%. 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 | $317,000 | 3.0% |
| Single Family | $324,000 | 3.2% |
| Condos | $149,000 | 7.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $152,000 | 31.0% |
2 Bed | $228,000 | 3.6% |
3 Bed | $293,000 | 2.8% |
4 Bed | $361,000 | 3.4% |
| 5 Bed | $471,000 | 2.4% |
% of Housing Stock
Rental Trends — Rochester, MN
As of July '25, Rentcast reports the average rent in Rochester, MN is $1,780, with a year-over-year rent change of -3.3%. Per bedroom, the median rent as of July '25 in Rochester, MN is studios: $1,210, 1-bedrooms: $1,130, 2-bedrooms: $1,570, 3-bedrooms: $2,070, 4-bedrooms: $2,530. The most common rental property sizes in Rochester, MN are 2-bedroom and 1-bedroom, accounting for 45.5% and 28.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,640 | $1,780 |
| Studio Rent | $1,000 | $1,210 |
| 1 Bed Rent | $1,020 | $1,130 |
| 2 Bed Rent | $1,400 | $1,570 |
| 3 Bed Rent | $1,900 | $2,070 |
| 4 Bed Rent | $2,500 | $2,530 |
% 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 39. This is a increase of 9.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $360,000 | 2.0% |
Listing Count | 199 | 4.0% |
| Listings as % of Homes | 0.3% | 4.0% |
Days on Market | 39 | 9.0% |
Demographics — Rochester, MN
As of the latest ACS Survey released in 2023, Rochester, MN has a population of 58,300, which has increased by 6.5% over the past 5 years. Rochester, MN is a moderately popular place for families, as children make up 24.6% of the population. The area has a highly educated workforce, with 49.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 58,300 | 6.5% |
% Under 18 | 24.6% | 0.8% |
% Seniors | 15.5% | 7.6% |
% WFH | 14.3% | 257.5% |
% w/ College Degree | 49.6% | 4.6% |
As of the latest ACS Survey released in 2023, Rochester, MN is a predominantly white area, with 70.6% of the population identifying as white. The white population has shrunk by 7.5% in the last 5 years. The second most common race or ethnicity in Rochester, MN is black, making up 11.8% of the population. Foreign-born residents account for 15.1% of the population in Rochester, MN, and this percentage has increased by 13.5% 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 | 70.6% | -7.5% |
% Black | 11.8% | 40.5% |
% Hispanic | 5.5% | 22.2% |
% Asian | 7.7% | 4.1% |
% Foreign Born | 15.1% | 13.5% |
Mortgage and Risk — Rochester, MN
According to HUD data as of 2023, there were 1114 mortgage originations in Rochester, MN, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 30.0% 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. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1,114 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 6.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Rochester, MN
As of 2024, the percent of homes in Rochester, MN under the Section 8 program is 9.0%. 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 | 946 |
Total Units Section 8 | 757 |
% Rentals under Section 8 | 9.0% |
% Occupied Section 8 | 89.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $100 | $1,020 | $1,120 |
| 2 Bedroom | -$30 | $1,400 | $1,370 |
| 3 Bedroom | $20 | $1,900 | $1,920 |
| 4 Bedroom | -$200 | $2,500 | $2,300 |
Affordability — Rochester, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $317,000 |
| Median Household Income | $90,400 |