Located in Upstate New York, just south of Ontario Lake is Rochester, New York. This bustling suburban paradise is a fantastic place to raise kids; even Forbes named it one of the top three places to raise a family in America. With a population of approximately 210,565 people, Rochester is constantly enjoying booms, thanks in part to its many industries and businesses, including Kodak, Bausch and Lomb, and Xerox. The University of Rochester and the Rochester Institute of technology are here; both are leading colleges in the nation. Lower education schools are also excellent, and the low cost of living and low cost of housing attracts people from all over the country. Rochester isn't all work and no play however; there are many parks, restaurants, art museums, theaters and concert halls that appeal to people of all ages. The dozens of neighborhoods also ensure each person has a suitable place to reside.
Rochester, NY is a great place for affordable rent-to-own homes! With a median household income of over $37,395 and a median rent of $875, the Rochester, NY rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Rochester, NY. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
Rochester, NY is seeing rapid growth and Rochester, NY's' housing market remains optimal with an average home price that is -59% below the 2022 national average. Rochester, NY is part of Monroe county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2022 for county Monroe is 2.92% which is above the national average, which is 0.99%.
Rochester, NY has a walk score of
Rochester, NY has a bike score of
The state tax rate is 4.0 to 10.9% on top of the federal tax rate of 10 to 37%.