what is the state of the housing market in rochester, ny?

SUMMARY

The City of Rochester, NY, hired czb in 2018 to produce a citywide housing market study to inform a new comprehensive plan. That work included a detailed block-level portrait of market strength across the city— defining areas of strength and momentum, areas of continued weakness, and areas that were stable yet highly vulnerable to decline.

In 2024, facing housing pressures stemming from COVID-19 upheavals, rising prices, and soaring development costs, the city hired czb once again. Our team found that, although Rochester's strongest markets were now out-competing the suburbs in some respects, much of the city's housing market remained vulnerable to disinvestment, despite higher values and rents. The draft study includes updated strategic direction for Rochester's sub-markets as well as guidance for targeted interventions where homeownership rates are at a tipping point.