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These days, finding an affordable place to live in the Rochester area can be challenging. Home prices in Rochester are now at a median cost of $562,115, higher than the Michigan average of $250,415.
The average cost of rent is $1,766/mo in Rochester, primarily driven by the current value of real estate in the Rochester area. In Rochester, 20.90% of households rent, and 35.81% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Rochester is $13,168 per month. Households that rent pay about 13.41% of their income on rent here. Rochester’s most expensive areas are in the western regions, while the cheapest areas are in the southeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Rochester Hills, MI: less expensive homes
- Oakland, MI: equally priced homes
- Auburn Hills, MI: less expensive homes
- Washington, MI: less expensive homes
- Utica, MI: less expensive homes
- Lake Orion, MI: less expensive homes
- Lakeville, MI: less expensive homes
- Pontiac, MI: less expensive homes
- Leonard, MI: less expensive homes
- Lake Angelus, MI: less expensive homes
Cities with Similar Populations
- West Islip, NY: higher priced homes
- Brawley, CA: less expensive homes
- Brenham, TX: less expensive homes
- Bridgewater, MA: equally priced homes
- Burlington, IA: less expensive homes
- Calabasas, CA: higher priced homes
- Camp Hill, PA: less expensive homes
- Chatsworth, GA: less expensive homes
- Claremore, OK: less expensive homes
- Wallingford, CT: less expensive homes
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