Quick facts: Rochester, NY

Quick Facts

113.7
Cost of Living
above US average
209,352
Population
43.31
Crime Rate per 1000
above US average
$44,156
Median Income
below US average
$154,000
Median House Price
above US average
$2943
Average Rent
above US average
22%
Poverty Rate
above US average
5.3%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $44,156.

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Income Needed to Buy

βœ— Stretch
$48k/year
Based on $154,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $48k vs median $44,156
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Income Needed to Rent

⚠ Stretch
$126k/year
Based on $2943/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $126k vs median $44,156
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Rochester, NY

Rochester, NY, located in the western part of the state along the banks of Lake Ontario, is known for its rich history, vibrant culture, and innovation. Founded in the early 19th century, it quickly rose to prominence as a major manufacturing hub, particularly in the photographic and imaging industries, thanks to companies like Eastman Kodak. The city boasts a diverse population and a community proud of its cultural heritage, showcased through numerous festivals, art galleries, and an active music scene. The Rochester International Jazz Festival is a highlight, attracting artists and audiences from around the globe. Rochester is also home to several prestigious educational institutions, including the University of Rochester and Rochester Institute of Technology, contributing to its reputation as a center for research and higher learning. Outdoor enthusiasts can enjoy beautiful parks such as the Highland Park, known for its stunning lilac collection. The Genesee River and nearby Finger Lakes provide additional recreational opportunities, making Rochester a city that harmonizes urban living with nature. With a strong sense of community and a future-oriented mindset, Rochester continues to evolve while honoring its industrial past.

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