Living in Rochester, MN
Rochester, MN, is a forward-thinking city famous for the Mayo Clinic, which drives a robust economy and offers numerous jobs in the healthcare sector. With a community-focused culture, pristine parks, and excellent educational institutions, Rochester presents a high quality of life for families and professionals. Outdoor activities abound, as residents enjoy biking and hiking throughout the city's beautiful landscapes.
Current Market Conditions in Rochester, MN
The real estate market in Rochester, MN, is currently experiencing strong demand with limited inventory. Homes are selling quickly due to the high population growth, primarily driven by the healthcare sector. As such, prices have appreciated, and it's becoming increasingly competitive for buyers, particularly in family-friendly neighborhoods near schools and amenities.
The trend in Rochester's real estate market suggests a gradual increase in prices over the coming years. With the ongoing developments around the Mayo Clinic and improvements in public infrastructure, the city is poised for continued growth. As the job market expands, the housing demand is expected to rise accordingly.
Home Value Estimator For Rochester, MN
There are currently 43,929 real estate properties
in Rochester, MN,
with a median automated valuation model (AVM) price
of $329,607.00. 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, MN, 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, MN,
is $389,179.00, with the most expensive house
in Rochester, MN, topping out
at $57,840,500.00 and the cheapest home
in Rochester, MN,
clocking in at $12,934.00. In other words, there’s
something for every potential homebuyer
or savvy investor in Rochester, MN!
Rent Prices
In Rochester, MN
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in Rochester, MN, is on
a rollercoaster ride. The
average rent price in Rochester, MN,
is $1,701.00. Indeed, when looking to rent in
Rochester, MN, you can expect to pay as little
as $630.00 or as much
as $4,600.00,
with the average rent median estimated to
be $1,610.00. The good news is that finding
an affordable and desirable property to rent in Rochester, MN
-- 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.
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