Department of Numbers

Rochester New York Residential Rent and Rental Statistics

The median monthly gross residential rent in Rochester, NY (the Rochester metro area) was $833 in 2015 according to the Census ACS survey.1 Average gross rent in Rochester was $863 in 2015. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2016 Rochester median and average rent data will be released in September of 2017.

Data is also available below for Rochester rental vacancy rates, Rochester rent as a percent of median income and the fraction of renters in Rochester.

Show dollars as: Nominal Real

Real Gross Rent in Rochester New York (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
New York Median Gross Rent $1,173 +2.62% +8.41%
Rochester, NY Median Gross Rent $833 +4.65% +7.35%

Rochester, NY Real Gross Rent Trends

At $833, real median gross rent in Rochester was at its highest level in 2015 since the series began in 2005. At $863, real average gross rent in Rochester was at its highest level in 2015 since the series began in 2005.

Real Gross Rent in Rochester: Rochester NY Median, Rochester NY Average, New York Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Rochester

Date US
Median
New York
Median
Rochester, NY
Median
Rochester, NY
Average
2015 $959 $1,173 $833 $863
2014 $930 $1,143 $796 $822
2013 $898 $1,101 $784 $819
2012 $886 $1,082 $776 $799
2011 $887 $1,077 $775 $794
2010 $901 $1,074 $774 $796
2009 $905 $1,057 $779 $801
2008 $920 $1,064 $802 $836
2007 $874 $1,004 $785 $800
2006 $883 $1,013 $803 $803
2005 $858 $991 $806 $823

Rochester Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Rochester New York was 6.34% according to Census ACS data.

Rental Vacancy Rate in Rochester New York

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
New York 4.41% +0.07% +0.07%
Rochester, NY 6.34% -0.56% +1.75%

Trends in Rochester, NY Rental Vacancy Rate

The rental vacancy rate in Rochester peaked in 2007 at 10.90%. Since then it has fallen by 4.56% to 6.34%. Data records for this series originated in 2005. From a 2012 post peak low of 4.59%, the rental vacancy rate has increased by 1.75%.

Rental Vacancy Rate: Rochester NY, New York, US

Rental vacancy rate in New York

Historical Rental Vacancy Rate data for Rochester

Date US New York Rochester, NY
2015 5.85% 4.41% 6.34%
2014 6.32% 4.34% 6.90%
2013 6.49% 4.17% 6.23%
2012 6.77% 4.34% 4.59%
2011 7.40% 4.48% 5.22%
2010 8.17% 5.03% 7.97%
2009 8.43% 4.78% 8.33%
2008 7.86% 4.68% 9.66%
2007 7.87% 4.70% 10.90%
2006 7.70% 4.94% 10.86%
2005 7.74% 4.80% 9.49%

Rent as a Fraction of Income

Using median household income data for Rochester, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Rochester, median monthly gross rent as a fraction of median household income was 18.63% in 2015 according to the ACS.

Rochester New York Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
New York 23.13% -0.27% +0.19%
Rochester, NY 18.63% -0.17% +0.31%

Trends in Rochester, NY Rent as a Fraction of Income

The fraction of median Rochester household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 18.79%. Since then it has fallen by 0.17% to 18.63%.

Fraction of Income towards Rent: Rochester NY, New York, US

Percent of median household income going towards median monthly gross rent in Rochester New York

Historical Data for Annual Rent as a Fraction of Income in Rochester New York

Date US New York Rochester, NY
2015 20.63% 23.13% 18.63%
2014 20.89% 23.40% 18.79%
2013 20.78% 23.20% 18.28%
2012 20.65% 22.94% 18.32%
2011 20.70% 22.98% 18.05%
2010 20.50% 22.60% 17.57%
2009 20.12% 21.60% 17.28%
2008 19.00% 20.41% 16.45%
2007 18.66% 20.34% 16.85%
2006 18.90% 20.43% 17.44%
2005 18.89% 20.40% 17.81%

Renter Fraction in Rochester New York

You can calculate the renter fraction in Rochester in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Rochester as a fraction of total Rochester households. In 2015 32.88% of households were renters according to Census ACS data.

Rochester Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
New York 46.93% -0.09% +0.58%
Rochester, NY 32.88% -0.15% -0.33%

Trends in the Rochester, NY Renter Fraction

The Rochester household renter fraction peaked in in 2012 at 33.21% and is now 0.33% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Rochester NY, New York, US

Fraction of renters in Rochester

History of Rochester Renter Fraction

Date US New York Rochester, NY
2015 36.97% 46.93% 32.88%
2014 36.90% 47.02% 33.03%
2013 36.50% 46.35% 32.70%
2012 36.09% 46.35% 33.21%
2011 35.42% 46.41% 32.29%
2010 34.65% 45.75% 31.48%
2009 34.13% 44.97% 30.46%
2008 33.36% 44.71% 29.62%
2007 32.80% 44.48% 30.58%
2006 32.73% 44.40% 30.35%
2005 33.10% 44.67% 30.65%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.