Español

Este sitio también está en español. Leer en español

City · 122,330 residents · Olmsted County, Minnesota

Rochester , Minnesota

In Rochester, a typical home is worth $310,500 and typical rent is $1,399 a month. Compared with all of Olmsted County, the typical home value is 6% lower, typical household income is 6% lower, and the share of households that own their home is 6 points lower.

WhatsApp

  • Typical home value

    $310,500

    6% below the county

    6% below Minnesota

    • Rochester
    • Olmsted
    • Minnesota

  • Typical rent

    $1,399a month

    2% above the county

    9% above Minnesota

    • Rochester
    • Olmsted
    • Minnesota

  • Typical household income

    $89,389a year

    6% below the county

    About the same as Minnesota

    • Rochester
    • Olmsted
    • Minnesota

  • Households that own their home

    65%

    6 points below the county

    7 points below Minnesota

    • Rochester
    • Olmsted
    • Minnesota

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$340,589
3.5% more than 12 months ago
Typical rent
$1,602 a month
1.7% more than 12 months ago

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Rochester is in Olmsted County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Olmsted County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Rochester apart

What this place has that others do not, from public data, most unusual first.

  1. Nearby, in Austin, the typical home value is $163,900: 47% less than in Rochester ($310,500).

  2. Nearby, in Lake City, the typical rent is $871: 38% less than in Rochester ($1,399).

  3. 65% of households in Rochester own their home, against 71% in Olmsted County.

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Rochester

What homes there are in Rochester, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

In Rochester, 6 in 10 homes are single-family detached houses; in Olmsted County, 6.

Year built

In Rochester, half of the homes were built before 1989; in Olmsted County, before 1989.

Homes in Rochester are smaller: 59% have 3 bedrooms or more; in Olmsted County, 63%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

By price, most homes in Rochester sit under the FHA limit for Olmsted County ($541,287): about 86%.

Monthly rent with utilities

HUD's 2-bedroom fair market rent (FMR) for Olmsted County is $1,422: about 52% of rents in Rochester are below it.

With a mortgage

$1,864 a month

Olmsted County: $1,956 a month

Without a mortgage

$702 a month

Olmsted County: $721 a month

Owners with a mortgage

62%

Olmsted County: 61%

Owning costs about the same in Rochester as in Olmsted County: with a mortgage, $1,864 a month; without one, $702.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

Much as in Olmsted County, the typical home value in Rochester rose 55% since 2015–2019.

Much as in Olmsted County, the typical rent in Rochester rose 44% since 2015–2019.

Here income did not keep up with housing: it rose 22%, while home values changed +55% and rent +44%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureRochesterOlmsted CountyMinnesotaUnited States
Rental vacancy 7.0%7.1%5.3%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.6%0.9%
More than one person per room 2.4%2.1%2.3%3.4%
People per household 2.342.412.432.53
Drive alone 65%67%69%69%
Carpool 10%9%8%9%
Public transit 4%3%2%3%
Walk or bike 5%4%3%3%
Work from home 15%15%18%15%
Other means 1%1%1%2%
Typical commute 10 to 19 minutes10 to 19 minutes20 to 29 minutes20 to 29 minutes

Open rentals in Rochester look like those in Olmsted County: the rental vacancy rate is 7.0%.

Much as in Olmsted County, 2.4% of households in Rochester have more than one person per room.

Much as in Olmsted County, a household in Rochester has 2.34 people on average.

In Rochester, 65% of workers drive alone to work; in Olmsted County, 67%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Rochester?

A typical home is tight for the typical income

We start with a typical home in Rochester, worth $310,500, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 35% of the typical household income in Rochester, which is $89,389 a year. For that payment to be 28% of income, a household would need to earn about $111,588 a year.

The calculator's FHA and conventional loan limits are those of all of Olmsted County.

Your numbers

Local data
$

Starts at the typical home value in Rochester. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $10,868 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$2,604

at 7.18% · 30 years

Loan amount
$304,876
Total interest
$438,644
Paid off in
November 2056

Includes $5,244 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $2,086 a month

  • Tight

    $2,086 to $2,682 a month

    Your payment · 35%

  • Hard

    more than $2,682 a month

Compared with the typical household income in Rochester ($89,389 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$2,604
Principal & interest$2,065
Property tax$272
Home insurance$129
FHA mortgage insurance (MIP)$137

You need at least $10,868 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Rochester and Olmsted County

Rochester is in Olmsted County, Minnesota. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Rochester's own numbers

Typical home value
$310,500
Typical monthly rent
$1,399
Typical yearly household income
$89,389
Households that own their home
65%
Effective property tax rate
1.05%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Olmsted County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,422
Price change over 5 years (FHFA)
+38%
Homes in a high flood-risk zone
0.4%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Olmsted County.

Everything about Olmsted County

Buying

Buying a home in Rochester

A typical home in Rochester is worth $310,500: 6% below the county and 6% below Minnesota. With the typical household income in Rochester ($89,389 a year), a typical home costs 3.5 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Rochester 3.5 years
  • Olmsted 3.5 years
  • Minnesota 3.7 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Olmsted County

According to FHFA’s house price index, home prices in Olmsted County rose 80% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Olmsted County.

Period County Minnesota U.S.
Last year (2025) +2.5% +2.8% +2.9%
5 years (2020–2025) +38% +37% +47%
10 years (2015–2025) +80% +71% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Rochester next to Olmsted County, Minnesota and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Rochester $310,500
  • Olmsted $331,700
  • Minnesota $329,300
  • United States $332,700
Typical monthly rent
  • Rochester $1,399
  • Olmsted $1,370
  • Minnesota $1,280
  • United States $1,413
Typical yearly household income
  • Rochester $89,389
  • Olmsted $95,406
  • Minnesota $89,062
  • United States $80,734
See the full table
Rochester next to Olmsted County and Minnesota
Measure Rochester Olmsted County Minnesota U.S.
Typical home value $310,500 $331,700 $329,300 $332,700
Typical monthly rent $1,399 $1,370 $1,280 $1,413
Typical yearly household income $89,389 $95,406 $89,062 $80,734
Households that own their home 65% 71% 72% 65%
Typical yearly property tax $3,258 $3,525 $3,357 $3,119
Effective property tax rate 1.05% 1.06% 1.02% 0.94%
Renters with high rent for their income 48% 48% 48% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Olmsted County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Rochester

For a typical $310,500 home in Rochester, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Rochester's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $2,604a month

    Least cash to close
    Down payment
    $10,868
    Cash to close
    $20,183
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $137

  • Conventional, 5% down $2,547a month

    Down payment
    $15,525
    Cash to close
    $24,840
    Rate
    7.18%
    Mortgage insurance
    PMI · $147

  • Conventional, 20% down, no PMI $2,084a month

    Down payment
    $62,100
    Cash to close
    $71,415
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $2,371a month

    Down payment
    $46,575
    Cash to close
    $55,890
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Rochester and for Olmsted County.

Property tax

Effective rate in Rochester

1.05%of the home’s value each year

$3,258 a year for the typical owner in Rochester.

  • Rochester 1.05%
  • Olmsted 1.06%
  • Minnesota 1.02%

What Minnesota publishes Homestead market value exclusion (Minnesota Office of the Revisor of Statutes (Minnesota Statutes))

Exemptions and deadlines in Minnesota

Flood risk in Olmsted County

FEMA does not publish these numbers by city: they are for all of Olmsted County.

Homes in the high-risk zone
0.4%
226
Of those, with NFIP insurance
16%
County Minnesota U.S.
Homes in the high-risk zone 0.4% 0.7% 3.5%
Of those, with NFIP insurance 16% 17% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Rochester

Typical rent in Rochester is $1,399 a month: 2% above the county. In Rochester, 48% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Olmsted County, by unit size. To pay the 2-bedroom one ($1,422 a month) without spending more than 30% of your income, you would need to earn $27.35 an hour working full time.

HUD fair market rent for all of Olmsted County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,183 $22.75 $47,320
1 bedroom $1,226 $23.58 $49,040
2 bedrooms $1,422 $27.35 $56,880
3 bedrooms $1,969 $37.87 $78,760
4 bedrooms $2,377 $45.71 $95,080

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Rochester

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Rochester has 5 ZIP codes with their own.

For 2 bedrooms it runs from $1,410 in 55904 to $1,740 in 55902.

4 of the 5 are above the fair market rent for Olmsted County ($1,422).

  • 55901 $1,470$2,040
  • 55902 $1,740$2,410
  • 55903 $1,440$1,990
  • 55904 $1,410$1,950
  • 55905 $1,440$1,990

3 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Rochester when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Rochester

HUD lists 42 buildings with rents for lower incomes in Rochester. These are the largest.

  • Park Heights Towers 22 N Broadway, Rochester 55906 180 homes, 166 low-income · For older adults (507) 285-9051
  • Fontaine Towers 102 2nd St SE, Rochester 55904 151 low-income homes · 1 bd: 150 · 2 bd: 1 · In service since 2018 · For older adults (507) 289-6400
  • Northgate Plaza 902 11th Ave NW, Rochester 55901 151 low-income homes · 1 bd: 151 · In service since 2016 · For older adults, people with disabilities (507) 289-2022
  • Essex Place Apartments Multiple Building Addresses, Rochester 55901 144 low-income homes · 1 bd: 28 · 2 bd: 60 · 3 bd: 56 · In service since 2012
  • River Glen Apartments 175 Sandbar Ct NE, Rochester 55906 128 low-income homes · 1 bd: 127 · 2 bd: 103 · 3 bd: 83 · In service since 2019 · For families

See all 46 buildings in Olmsted County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Rochester

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

We found no HUD-approved agencies with an office in Olmsted County. The nearest ones are below; many serve by phone or online.

An older woman smiles in front of her apartment building.

HUD counseling is free or low-cost

Assistance programs in Rochester

No down payment, repair or rent-help program on our list is for Rochester or Olmsted County. The ones below are statewide in Minnesota: they work in Rochester the same as in the rest of the state.

Which programs do I qualify for? All programs in Minnesota

  • Deferred Payment Loan (Start Up)

    Statewide in Minnesota

    Minnesota state agency loan for the down payment and closing costs alongside the Start Up mortgage for first-time buyers: up to $14,000 (or $18,000 in the Plus version), with no interest or monthly payments, repaid at the end of the mortgage. Offered by Minnesota Housing (Minnesota Housing Finance Agency).

    Deferred

    See the program Official page

  • Monthly Payment Loan

    Statewide in Minnesota

    Minnesota Housing loan of up to $14,000 for the down payment and closing costs, which you repay over 15 years at the same rate as your Minnesota Housing mortgage; it works with Start Up (first-time buyers) or Step Up. Offered by Minnesota Housing (Minnesota Housing Finance Agency).

    Repayable

    See the program Official page

Housing counselors near Rochester

The HUD-approved agencies closest to the center of Rochester, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Three Rivers Community Action, Inc.

    1414 Northstar Dr, Zumbrota · 22 miles away · Spanish

    Also serves in other languages.

    • Pre-purchase counseling
    • Homebuyer education workshops
    (507) 696-4025

  • Dakota County Community Development Agency

    1228 Town Centre Dr, Eagan · 66 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 2 more
    (651) 675-4400

  • Washington County Community Development Agency

    7645 Currell Blvd, Woodbury · 67 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 3 more
    (651) 202-2822

All counseling agencies in Minnesota

Help in Spanish near Rochester

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Rochester

HUD’s record names them for Rochester or Olmsted County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Olmsted County Hra Public housing and Section 8 vouchers (507) 328-7150

All housing agencies in Minnesota Source: HUD

Cities

Other cities in Olmsted County

These cities are also in Olmsted County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Olmsted County Housing in Minnesota

Nearby cities

The cities closest to Rochester, with the typical home value.

Neighboring counties

If Olmsted County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Rochester.

All guides
Three women of one family lean in together to stir the pan.

Questions

Housing questions about Rochester

Short answers with the numbers for Rochester and all of Olmsted County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Rochester?

The typical home value in Rochester is $310,500, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Olmsted County it is $331,700.

How much does it cost to rent in Rochester?

Typical rent in Rochester is $1,399 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Olmsted County is $1,422.

What is the FHA loan limit in Rochester?

Rochester uses the FHA limit for all of Olmsted County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Rochester?

The typical homeowner in Rochester pays $3,258 a year, according to the U.S. Census Bureau. That is 1.05% of the home’s value; in Olmsted County, the rate is 1.06%.

Where can I find free help to buy or rent in Rochester?

We found no HUD-approved counseling agencies with an office in Olmsted County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).