Home Values in Rochester, Minnesota — 2026 Market Report
Updated March 2026 | Balanced Market | +4.5% YoY
The median home value in Rochester, Minnesota is $295,000 as of March 2026, which is below the national median of $400,000. Home values in Rochester have increased by 4.5% over the past year and 24.6% over the last five years. With a population of 121,395 and a median household income of $72,250, the price-to-income ratio stands at 4.1x, making Rochester affordable for the average household.
Rochester Housing Market Conditions
| Metric | Rochester | National Avg |
|---|---|---|
| Median Home Value | $295,000 | $400,000 |
| YoY Appreciation | +4.5% | +3.8% |
| 5-Year Appreciation | +24.6% | +22.4% |
| Price per Sq Ft | $104 | $222 |
| Days on Market | 43 days | 45 days |
| Months of Supply | 4.5 | 3.5 |
| List-to-Sale Ratio | 99.6% | 98.5% |
| Monthly Homes Sold | 107 | — |
| Foreclosure Rate | 0.62% | 0.3% |
Home Value Trends in Rochester
A homeowner who purchased at the median price of $236,758 five years ago in Rochester would have gained approximately $58,242 in equity, representing a 24.6% return on investment. Over the past year alone, the typical homeowner gained $12,703 in home equity.
Affordability in Rochester, MN
With a median household income of $72,250 and a median home price of $295,000, the price-to-income ratio in Rochester is 4.1x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $2,220 compared to estimated monthly ownership costs of $1,676 gives a rent-vs-buy ratio of 0.75. In Rochester, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in Rochester
The effective property tax rate in Minnesota is 1.12%. On a home valued at $295,000, the estimated annual property tax bill is $3,304, or approximately $275/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in Rochester is 97.5 (100 = national average), indicating living costs are near the national average.
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Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in Rochester, MN?
The median home value in Rochester, Minnesota is $295,000 as of March 2026. Home values have changed +4.5% over the past year, with a 5-year appreciation of 24.6%.
Is Rochester a buyer's or seller's market?
Rochester is currently a balanced market with 4.5 months of housing supply. Homes spend an average of 43 days on market, and the list-to-sale price ratio is 99.6%. Supply and demand are relatively balanced.
Are home values going up in Rochester?
Yes, home values in Rochester have increased by 4.5% over the past year. The 5-year appreciation rate is 24.6%, meaning a home worth $236,758 five years ago is now worth $295,000.
Is it better to rent or buy in Rochester?
The average monthly rent in Rochester is $2,220, while estimated monthly homeownership costs are approximately $1,676. The price-to-rent ratio is 11.1. Based on current conditions, buying may be more cost-effective than renting in this market.
Home Values in Other Minnesota Cities
Related Resources
Disclaimer: Home value data for Rochester, Minnesota is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.