With a population of just over 1 million people, Rochester, New York is no small town. So, if you are getting ready to move to Rochester and were worried it is a small, northeastern town you can relax! The city is quickly growing and is currently showing a lot of promise for families that move there.
Rochester happens to be the second largest economy in the state of New York. This is primarily because the job market is booming. The business and professional job growth is currently at about 7.5% which means many people might be moving to Rochester simply for work. The largest base of employers includes imaging companies and higher education, but there is also plenty of with in the business sectors as well.
Because Rochester happens to have quite a few stable jobs, especially in the public sector, its housing market didn’t plummet as far as other regions. Another benefit was that the city has never fallen prey to overbuilding, as many other cities have done. This means that if you move to Rochester, you will likely find affordable housing that hasn’t depreciated too much over the past couple of years. On average, a home in Rochester will cost about $150,000.
In the third quarter of last year, home prices actually peaked and are now holding steady. In the years ahead, Rochester is expected to grow even more, which is great news for homebuyers or those considering a permanent relocation to the area.