There are currently 7,783 real estate properties in Rochester, MI, with a median automated valuation model (AVM) price of $469,900.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Rochester, MI, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Rochester, MI, is $497,148.00, with the most expensive house in Rochester, MI, topping out at $4,999,900.00 and the cheapest home in Rochester, MI, clocking in at $76,000.00. In other words, there’s something for every potential homebuyer or savvy investor in Rochester, MI!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Rochester, MI, is on a rollercoaster ride. The average rent price in Rochester, MI, is $2,259.00. Indeed, when looking to rent in Rochester, MI, you can expect to pay as little as $790.00 or as much as $3,400.00, with the average rent median estimated to be $2,390.00. The good news is that finding an affordable and desirable property to rent in Rochester, MI -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Rochester, MI area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Rochester, MI and much more. Save thousands at closing with home foreclosure listings in Rochester, MI — up to 75% off market value!
Rochester is located in Oakland, Michigan, with an estimated municipal population of 13,296 residents. All of the best foreclosed homes for sale in Rochester are located in the following zip code areas on Foreclosure.com: 48307 48308. The estimated population per square kilometer (.62 miles) in Rochester is 1,340.
So, about how much do homes cost in Rochester? The most recent median value of resident-owned homes in Rochester is 368,636. An estimated 65.2 percent of households in Rochester own their homes, with an average family size of 3.05. The median household income in Rochester is 89,904, with44.6 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Rochester, the median commute time of resident workers (in minutes) is 28.9. And last, but certainly not least, are you looking for homes to rent in Rochester? If so, the average rent price paid by renters in Rochester is 1,046, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Rochester, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Rochester is 40.7, split between 47.8 percent male versus 52.2 female. The percentage of residents who report being married in Rochester is 56.5, with an average family size of 3.05.
The percentage of residents who report their race in Rochester is as follows:
|Black / African American||2.6%|
|American Indian / Alaskan Native||0.1%|
|Native Hawaiian / Other Pacifc Islander||0%|
Looking for family-friendly neighborhoods in and/or near Rochester? Or maybe you are searching for 55+ active adult communities in and/or near Rochester?
The percentage of residents who report their age in Rochester is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Rochester with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Rochester.
How do you know that living in -- or moving to -- Rochester is right where you need to be? Perhaps you grew up in Rochester or already live nearby; therefore, the decision to buy a home in Rochester is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Rochester for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Rochester:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Rochester.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Rochester can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Rochester, meanwhile, can field multiple offers from more qualified buyers.