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Report: Rochester among worst real-estate markets in US

Rochester has one of the worst real-estate markets nationwide and the fourth worst midsize market, according to a new report from WalletHub.

Using 21 metrics to compare 300 cities across the country, WalletHub ranked Rochester 281st overall and 95th among midsize cities. Frisco, Texas, ranked first in the report.

Rochester ranked 292nd for its job growth and 278th for its population growth. The region ranked 264th for its percentage of delinquent mortgage holders and 228th for its average days until sale.

Rochester’s affordability and economic environment rank overall was 232nd, while its real estate market rank was 282nd.

Experts polled by WalletHub say the millennial homeownership rate is low, which may have an impact on the overall housing market. In some cases that results from high student loan debt and underemployment among the under-35 age group.

Follow Velvet Spicer on Twitter: @Velvet_Spicer

(c) 2017 Rochester Business Journal. To obtain permission to reprint this article, call 585-363-7269 or email madams@bridgetowermedia.com.

4 comments

  1. Is this just the city of Rochester, or Monroe County, or the region?

  2. Based on the report’s lists, it appears to be just the city of Rochester.

  3. These so-called “rankings” need always to be looked at with great skepticism, because ranking results are too easily subject to change by simply manipulating formulas and variables! Do nott ever be taken in byANY rankings unless you verify/know the details, methodology and political motivations of the preparers/promotors of these lists. Otherwise, you can very well consider them what they really are Utter rubbish.

  4. they forgot to mention the outrageous property taxes being paid,that kills lots of deals. Mortgage on the home is ok but the taxes kick it up and all the sudden the house isn’t so affordable

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