Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$338,327+3.8% YoY · prices are rising fast
Market right nowBuyer's marketMore homes for sale than last year, 21% have cut their price
Income needed to buy, per year$73,342About 0.8× the local median income ($91,723): affordable for a typical household
Days on market61 daysSlower than a year ago: buyers have time to negotiate
Next 12 months+2.8%Zillow expects prices to rise slightly
The typical home in Rochester, MN is worth $338,327, up 3.8% from a year ago. That is well above what local incomes have historically supported: fair value is about $292,118, so the area is 15.8% overvalued. It is a buyer's market: homes take about 61 days to sell, listings are up 46% from a year ago, 21% of listings have had a price cut. Zillow expects prices to rise about 2.8% over the next year. A household needs about $73,342 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $91,723. Typical rent is $1,590 a month, or $1,984 for a house. In the latest IRS figures, 889 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$338,327
Change in 1 year
+3.8%
Overvalued %
+15.8%
Show 7 more
Fair home value
$292,118
Change in 5 years
+20.1%
Zillow forecast, next 12 months
+2.8%
Home value to income
3.7×
Monthly mortgage payment (20% down)
$1,834
Income needed to afford it
$73,342
Property tax rate
1.05%
Rent and investing
Typical rent
$1,590
Typical rent for houses
$1,984
Price-to-rent ratio
17.7×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$1,346
Gross rental yield
5.64%
Cap rate (estimate)
3.66%
Market activity
Listings vs a year ago
+46.4%
Days on market
61
Listings with a price cut
21.3%
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Homes for sale
865
Pending sales per 100 listings
28
Asking price per sq ft
$191
People and jobs
Median household income
$91,723
Population change (1 year)
+0.5%
Unemployment rate
3.3%
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Population
231,184
Income adjusted for cost of living
$101,017
Net moves in (IRS)
−889
Cost of living (US = 100)
90.8
Schools, risk and environment
School rating (1 to 10)
6.6
FEMA hazard risk score (0 to 100)
69.5
Unhealthy air days a year
8
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Flood risk score
76.7
Wildfire risk score
17.5
Walkability (1 to 20)
7.7
Road, rail and air noise
54 dB
Questions people ask
Is Rochester, MN overvalued?
Home prices in Rochester, MN are well above what local incomes have historically supported: fair value is about $292,118, so the area is 15.8% overvalued.
Is Rochester, MN a buyer's or seller's market?
Rochester, MN is a buyer's market: homes take about 61 days to sell, listings are up 46% from a year ago, 21% of listings have had a price cut.
Are home prices going down in Rochester, MN?
Home values in Rochester, MN are up 3.8% over the last year. Zillow's forecast for the next 12 months is +2.8%.
How much do you need to earn to buy a home in Rochester, MN?
A household needs about $73,342 a year to afford the typical home in Rochester, MN at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $91,723.