The Best Places to Buy a House rating provides a complete review of a region’s housing and community. This grade attempts to quantify the quality and stability of an area’s real estate market by taking into consideration major aspects such as property values, taxes, crime rates, and the quality of local schools.
Factors considered to buy homes in Rochester, MN
| Home Value to Income Ratio. | The ratio of median home value to median family income, with lower being preferable. | U.S. Census: | 15.0% |
| The Public Schools Grade | Based on the average Niche K-12 Overall Grade for all public schools in the area, weighted by student enrollment. | Multiple sources | 15.0% |
| The median monthly | housing expense for homeowners | U.S. Census: | 10.0% |
| Cost of Living | Based on the consumer price index and available affordable homes | Multiple sources | 7.5% |
| Higher Education | Percentage of residents with a bachelor’s degree or higher | U.S. Census: | 7.5% |
| Median House Value | The median home value in the area. | U.S. Census: | 7.5% |
The Housing Grade for each ranked place is calculated using the same criteria. Statistics are generally derived from the United States Census and reflect the most recent statistics available.
The quantity of properties on the market countrywide is far lower than pre-pandemic levels, and this scarcity is keeping housing prices high even as sales have slowed in the last year.
Quick Shift Moving Inc. As Americans negotiate an increasingly complex market, internet house shopping has become a vital component of the process. According to a 2021 National Association of Realtors research, 97% of homebuyers in the United States searched for a property online.
Stacker used Realtor.com’s cross-market demand data to construct statistics on people looking to buy properties in Rochester.