Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 6,212, 2,534 total housing units (homes and apartments), and a median house value of $146,490, house prices in Rochester are some of the most affordable in Indiana as well as the nation.
Single-family detached homes are the single most common housing type in Rochester, accounting for 70.86% of the city's housing units. Other types of housing that are prevalent in Rochester include duplexes, homes converted to apartments or other small apartment buildings ( 14.89%), large apartment complexes or high rise apartments ( 9.21%), and a few mobile homes or trailers ( 5.04%).
The most prevalent building size and type in Rochester are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 61.27% owning and 38.73% renting.
There is a lot of housing in Rochester built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Rochester built before 1939 ( 29.48%). A lesser amount of the housing stock also hails from between 1940-1969 ( 26.95%). There's also some housing in Rochester built between 2000 and later ( 10.38%).
Vacant housing appears to be an issue in Rochester. Fully 21.69% of the housing stock is classified as vacant. Left unchecked, vacant Rochester homes and apartments can be a drag on the real estate market, holding Rochester real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Rochester's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Rochester during the period has been just 5.62%, which is lower than 70% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Rochester's appreciation rate, at 5.45%, has been at or slightly above the national average. In the latest quarter, Rochester's appreciation rate has been 1.91%, which annualizes to a rate of 7.88%.
Relative to Indiana, our data show that Rochester's latest annual appreciation rate is lower than 50% of the other cities and towns in Indiana.
$146,490
for Indiana
for nation
2,534
$1,195 / per month