New York · 54th largest metro area

Buying a home in Rochester, New York

In Rochester, the median value of owner-occupied homes is $139,600, Monroe County's effective property tax rate is 2.63%, a purchase mortgage carried a median $4,419 in total loan costs in 2025, and median gross rent is $1,081 a month.

Data as of : Census ACS 2020-2024, Census Vintage 2024, HMDA 2025, HUD FY 2027. Sources

Rochester home costs, fact by fact

About Rochester

Census estimates show that 38.1% of homes are owner-occupied, and median gross rent is $1,081 per month. The city is part of the Rochester, NY metro area, ranked 54th among US metro areas.

Reading the Rochester figures

Rochester ranks among the lowest-value cities in New York: owners report $139,600, only a shade above Syracuse's $138,400 and far under the state's $470,900. Buffalo ($164,200) and Albany ($234,700) sit higher. What complicates the picture is Monroe County's tax. Its 2.63% rate is the steepest among these pages, so the annual bill reaches $5,616 even with modest home values. For a buyer at this price level, that tax figure deserves as much attention as the price itself.

Only 38.1% of households own here, close to Albany's 38.2% and below Buffalo's 43%. Rent of $1,081 a month looks soft next to HUD's $1,416 benchmark, which suggests that current listings may ask more than the census figure. Loan costs were lower than in most places, with the central band of borrowers paying $3,685 to $5,597.

Calculate for New York

If you buy

New York state transfer tax

Real estate transfer tax (Tax Law 1402), plus mansion tax (1402-a): $2 per $500 of consideration, or fraction of $500 (0.4%), when consideration is over $500. Change the price: the amount is recalculated instantly.

Price$470,900
State transfer tax$1,884
Share of the price0.4% of the price
Who paysThe seller

Default price: the New York median value of owner-occupied homes, $470,900 (Census ACS 2025). Rule: Divide consideration by $500, round up to the next whole unit, multiply by $2. Applies when consideration is more than $500. The 1% mansion tax (buyer) on residential sales of $1,000,000 or more is separate and not included. Who pays: State base tax and additional base tax: seller (grantor), with the buyer liable if the seller fails to pay or is exempt. Mansion tax and NYC supplemental tax: buyer. NYC RPTT: the city page does not assign it to one side, so the contract controls. Not included: county and city transfer taxes, the tax on the mortgage, recording fees, title insurance and lender charges. New York transfer tax guide · all 50 states.

If you sell

Capital gain and the federal tax on it

Same federal rule in every state: Section 121 of the Internal Revenue Code excludes up to $250,000 of gain on a main home ($500,000 for a married couple filing jointly).

Capital gain$350,000
Section 121 exclusion$250,000 (limit $250,000)
Taxable gain$100,000
Type of gainLong-term (owned over 1 year), 15% chosen
Federal tax on the gain$15,000

Section 121 excludes $250,000; the rest is taxable.

Gain = sale price minus your adjusted basis (purchase price, buying costs and improvements); selling expenses reduce it (IRS Publication 523). Long-term rates for sales in 2026, by taxable income including the gain (IRS Rev. Proc. 2025-32, section 4.03): 0% up to $49,450 single or $98,900 married filing jointly, 15% up to $545,500 single or $613,700 jointly, 20% above. Not included: New York state income tax on the gain (not computed), the net investment income tax, depreciation recapture on a rental or home office, and the reduced exclusion for an early sale. Agent commissions are negotiated and never set by law. Capital gains on a home sale.

Questions about buying a home in Rochester

How much is property tax in Rochester?

Homeowners in Monroe County pay a median $5,616 a year in property tax, 2.63% of the county median home value of $213,700 (Census ACS 2020-2024). Your bill depends on your assessed value and local rates.

What are closing costs on a mortgage in Rochester?

Home-purchase mortgages in Monroe County carried median total loan costs of $4,419 in 2025; half of the 5,849 loans fell between $3,685 and $5,597 (HMDA). Total loan costs are the lender and settlement-service charges of the Closing Disclosure; transfer taxes and prepaid items come on top.

Is there a transfer tax when you buy a home in Rochester?

New York State taxes every deed at $2 per $500 of price, or 0.4%, and the seller pays. New York City adds its own tax of 1% up to $500,000 and 1.425% above it on homes, and the buyer pays a 1% mansion tax on residential sales of $1 million or more.

Is it cheaper to rent or buy in Rochester?

It depends on your mortgage rate, down payment and how long you stay. As a benchmark, the median value of owner-occupied homes in Rochester ($139,600) equals 10.8 years of the median gross rent ($1,081 a month), both from Census ACS 2020-2024.

Run your own numbers: rent vs buy calculator · closing costs calculator.

New York rules that apply in Rochester

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Sources

New York · All states · Federal guides