Rochester NY – Top 10 Cities to Become a Landlord

August 1, 2011 by Ben Munson in Landlord Tips, Rental Market Info, Rochester Metro Area
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Rochester NY appears to be riding on a wave of positive press this year.  The July 28th article claiming Rochester as #9 of the ‘Top 10 Cities in America to Become a Landlord‘ is proof that this city is having quite a run.  Most recently, Rochester has showed up as the ‘#1 best city in America for easy commuting‘ and the ‘#4 Most affordable city in America‘.

According to CNN Money, the study’s publisher, a combination of low home prices, interest rates near zero and climbing rents makes investment opportunities in Rochester quite unique.  Rochester was spared from the huge collapse in housing prices, and this stability means home values are expected to increase over the next three years. Another contributing factor is that unemployment in Rochester hovers around 7 percent, a rate that is significantly lower than the national average.

Here’s the core stats that they looked at in the study:

Average home price (2011): $150,500
Projected home price (2014): $155,500
Gross rent (2011): $825
Projected gross rent (2014): $947