Rochester Home Prices Jumped by $150K in a Decade

For many years, buying a home in Rochester was a major goal, but it was one that was still within reach for many families. But now, new data shows just how dramatically prices have climbed in the Med City, and the numbers paint a startling picture of how much the market has shifted in only a decade.

Rochester Home Prices Have Soared Over the Last Decade

While the cost of just about everything in Minnesota these days is way up-- have you seen how much the price of gas is right now?!?-- ahe cost of buying a home here in Rochester is no exception. Except home prices haven't been going up for the last one or two years, they've been increasing steadily over the past 10 years.

Across the country, U.S. home values grew by over 81 percent over the past decade, a trend that wasn't matched by hourly earnings, which saw a modest 47 percent increase over that same period. And here in Minnesota's Med City, home prices have increased even more.

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That's the word from a new survey by Construction Coverage, a company that provides construction industry resources, guides, and research. They analyzed the latest data from Zillow, the U.S. Census Bureau, and the U.S. Department of Housing and Urban Development and found out just how much more money homes are now worth in Rochester.

Rochester Home Values Have Increased by More Than $150K

According to the survey, the median home price in Rochester in 2016 was $188,942. But now in 2026, the median home price has jumped to a whopping $339,445. That's right, homes in Rochester cost $151,000 more than they did back in 2016. That’s a 79.7 percent increase in median home price in just 10 years!

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And while that seems like a lot-- and it is-- it's still below the national average for that same 10-year period. The survey noted that nationally, the median home prices have increased by $164,181 from 2016 to 2016, with the national median average home price now coming in a $366,019. That's an increase of 81.3 percent over the last decade!

New Study Reveals How Expensive Rochester Homes Have Become

Even with prices increasing that much here in the Med City, we're still roughly in the middle of the pack when it comes to the jump in home prices. The survey noted that when you look at cities from the largest percentage home price growth to the smallest, Rochester ranks 288th among all small U.S. cities (those with populations under 150,000) and 396th among all 691 cities included in the study.