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Multifamily rental rate growth slows in Rochester as vacancies rise
Growth in rental rates slowed as vacancies rose in 2025 across the Greater Rochester metro area. (File photo by Kevin Oklobzija)
Growth in rental rates slowed as vacancies rose in 2025 across the Greater Rochester metro area. (File photo by Kevin Oklobzija)
Multifamily rental rate growth slows in Rochester as vacancies rise
Listen to this articleYear-over-year rental rate growth slowed and vacancies increased across the Greater Rochester metropolitan area in 2025 as the apartment market moved from landlord-friendly to balanced, according to Realtor.com.
Median rent for 2025 bumped up just 0.5 percent compared to 2024, to $1,330, while the vacancy rate climbed from 4.9 percent to 6.6.
That meant among the nation’s 50 largest metro areas, Rochester was one of among 44 that was considered balanced for tenant-friendly, according to data released Tuesday.
Realtor.com considers vacancy rates above 7 percent to be tenant-friendly, while in a balanced market that rate would be between 5 and 7 percent.
In Buffalo, the advantage is significantly in favor of renters. Vacancy rates rose from 10.4 in 2024 to 12.5 last year with median rent at $1,164. Rent was lower in only two other metro areas: Birmingham ($1,147) and Memphis ($1,148).
The data was based on studio, one-bedroom and two-bedroom units that are advertised on Realtor.com.
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