Rent to Own Homes in Rochester
If you take up residence in Rochester, you can entertain yourself with visits to the Rochester Art Center and shows by the Rochester Symphony Orchestra & Chorale. Other local attractions include the Plummer House, the Heritage House and the Chateau Theatre. For outdoor recreation, turn to the Zollman Zoo, Douglas State Trail and Silver Lake. This versatile city offers something for every personality and lifestyle, which is why it’s often referenced as one of the best places to live in the United States.
Buying a Home in Rochester?
The median listing price for homes in Rochester, MN, is less than $300,000, and the median sales price is often under $200,000. While you can expect prices to go significantly higher in some of the most desirable neighborhoods, there are many affordable single-family homes on the market at any given time. When selecting your home, think about the schools that you may want your children to attend and your commute time to work. Rochester is a car-dependent city, so it’s best to live closer to the places that you frequent.
Popular Neighborhoods in Rochester?
There are many attractive neighborhoods in Rochester, but try to stay away from the center of the city. One of the most popular areas is found on the southern end of the city and is known as the High Forest or Judge neighborhood. The boundaries are south of 60th Street Southeast on the eastern side and south of Country Club Road West on the western side. Median sales prices are close to $300,000, but this is a rural area with many medium and large-sized homes and a low property vacancy rate.
Another popular neighborhood is in the northeastern corner of the city. County Road 2 Northeast and East Civic Drive Northeast form the southern border, 75th Street Northeast forms the northern border and West River Road Northwest forms the western border. While the vacancy rate is a bit higher in this area, it’s a smaller neighborhood with many medium and large-sized homes. Most homes are occupied by their owners.
Buying vs. Rent to Own Homes?
Have you noticed “rent to own” signs popping up around Rochester? These homes offer a unique contract that allows you to take possession of the property before you finalize the purchase. You start out as a renter, and you have a date by which you must secure funding and officially make the home your own. This gives you time to settle into your home and strengthen your financial records so that you get the best deal possible on your home loan. You’re a homeowner in the end, but you can live comfortably in your new home during closing. Cost of Living in Rochester
The cost of housing in Rochester is slightly lower than the national average, though you may pay much more for large homes in some of the most desirable neighborhoods. You can expect to pay above-average prices for utilities and transportation, and some residents pay more than national average for healthcare. This is easily balanced out by affordable goods and services, so it’s not difficult to live on a reasonable budget in Rochester, MN.
Rochester, MN, is often ranked as one of the best places to live in America. This is largely due to a reasonable cost of living and a variety of family-friendly neighborhoods close to quality public schools. There are also some big employers in the city, including the Mayo Clinic and IBM. Add some beautiful lakes and fun parks that provide outdoor entertainment for residents, and you see what makes this a great place to enjoy an active lifestyle.