Rent vs buy in Rochester, NY
In Rochester, New York, the typical rent is $1,454 /mo and the typical home costs $240,168.
Renting comes out ahead by $4k over 7 years
Using Rochester's typical rent and home value, the calculation includes 20% down and today's mortgage rate. Costs break even in year 8.
Clearly labeled opinion, with the math shown. These are estimates, not quotes. The stamp changes when you change a number.
- Renting comes out ahead by
- $4k after 7 years
- Point when costs match
- In year 8 when owning catches up
- Full cost of owning
- Each month: $2,360 /mo year 1, against $1,454 rent
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Rochester's typical rent and home value provide the figures used by the stamp. Changing your rent, price or years can reverse the result.
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Is it cheaper to rent or buy in Rochester?
Over 7 years, renting costs $3,847 less after counting the money returned when you sell. For the first 7 years, renting costs less. In year 8, owning catches up with renting.
Rent. Buy. Net cost to date, broken down by year.
Average rent compared with mortgage payment in Rochester
Rent and the mortgage don't cover everything. The full monthly costs for year 1 use Rochester's typical price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,454 | All of it, every month |
| Mortgage payment | $1,309 | $1,154 of it is interest in year 1 |
| Property tax | $452 | 2.26% of the value a year |
| Insurance | $63 | Census median for the city |
| Upkeep | $200 | 1% of the value a year |
| Owning, cash out | $2,025 | $155 of it builds equity |
| Lost return on the down payment | $390 | The yearly return on cash at 8.3% |
| Buying costs, spread out | $100 | 3.5% of the price over 7 years |
| True cost of owning | $2,360 | Cash out, minus the equity amount, plus both items above |
Rochester verdict explained through numbers
- Typical home valueZillow ZHVI, September 2026
- $240,168
- Typical rentZillow ZORI, September 2026
- $1,454 /mo
- Down payment20% avoids private mortgage insurance, which the engine does not model
- 20%
- Mortgage rateFreddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Home price growthFHFA house price index, New York, 1995 to 2025
- 4.8% a year
- Rent growthCPI rent of primary residence, yearly growth 2006 to 2026
- 3.5% a year
- Return on savings60% S&P 500 with dividends and 40% 10-year Treasuries, rebalanced yearly, 1928 to 2025
- 8.3% a year
- Property taxCensus ACS 2020-2024, Rochester
- 2.26% of value
- Home insuranceCensus ACS 2020-2024, Rochester
- $63 /mo
- MaintenanceFannie Mae, low end of 1% to 4%
- 1% of value a year
- Buying costsFreddie Mac, middle of 2% to 5%
- 3.5% of price
- Selling costsAgent commission plus closing costs
- 6% of price
What could change Rochester's result?
Each line marks the threshold that changes the 7-year Rochester verdict while all other inputs stay the same.
Renting comes out ahead when
- We use 4.8%, New York's rate over the long run, when home prices grow by less than 5.0% a year.
- Mortgage rates must remain above the 6.96% threshold.
- For a home like this, rent is less than $1,500 a month, with $1,454 typical here.
- Before year 8, you move.
Home purchase comes out ahead when
- Home prices grow by more than 5.0% a year.
- Today's rate is 7.24%; the rate you lock is below 6.96%.
- Renting this same home would cost more than $1,500 a month.
- You remain in the home for 8 years or more.
How Rochester compares with the other 812 cities
| Measure | Rochester | Median city |
|---|---|---|
| Typical home value | $240,168 | $422,451 |
| Typical rent | $1,454 /mo | $1,837 /mo |
| Price-to-rent ratio | 13.8 (#691 of 813) | 18.5 |
| Rents, last 5 years | 5.5% a year | 4% a year |
| Property tax | 2.26% | 0.87% |
| Households that rent | 62% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More cities in New York
- It's a toss-up in New York City, NY, with buying ahead by $5k.
- Buying wins by $15k in Buffalo, NY.
- Renting wins by $125k in Yonkers, NY.
- Buying wins by $14k in Syracuse, NY.
- Renting wins by $34k in Albany, NY.
- Renting wins by $197k in New Rochelle, NY.
- Renting wins by $87k in Mount Vernon, NY.
- Renting wins by $67k in Schenectady, NY.
- Buying wins by $8k in Utica, NY.
- Renting wins by $106k in White Plains, NY.
- Renting wins by $78k in Hempstead, NY.
- Renting wins by $38k in Troy, NY.