Mortgage payment estimates, closing cost breakdowns, and homebuying data for Rochester, Minnesota.
Pre-filled with Rochester median home price and Minnesota tax/insurance rates. Adjust for your property.
Estimated closing costs based on Minnesota rates and fees applied to Rochester prices.
The median home price in Rochester is $315,000, 6% below the Minnesota state median of $335,000. With a population of 121,395, Rochester is a mid-size city where home prices tend to be more accessible than in many parts of Minnesota.
Property taxes in Minnesota average 1.12% annually. This moderate property tax rate means a $315,000 home in Rochester would carry roughly $294/month in property taxes. Homeowners insurance in Minnesota runs approximately $2,100 per year. This is within the normal range nationally.
Average rent in Rochester is $1,350/month. The price-to-rent ratio in Rochester is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Rochester presents moderate affordability. The $315K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.