A home is usually a person's or family's highest-valued possession. Home values are also an indicator of the region's cost of living, relative wealth, and general prosperity.

In 2017-21, the median home value for the region was $151,400, substantially less than the statewide median of $340,600 and the national median of $244,900. The regional median was fairly steady from 2000 to 2017-21. In contrast, the statewide and national medians increased substantially from 2000 to 2007-11 (51% and 23%, respectively), declined from 2007-11 to 2012-16 (11% and 7%), and increased again from 2012-16 to 2017-21 (5% and 17%). Between 2000 and 2017-21, the statewide median increased 42% overall, and the national median, 35%.

Among the individual counties of the region, median home values were highest in 2017-21 in Ontario ($169,200) and Monroe ($160,000), and lowest in Orleans ($107,700). Genesee, Orleans, Seneca and Wayne counties saw modest declines in median values between 2000 and 2017-21. Values were flat over this period in Livingston and Monroe. Ontario and Yates had substantial increases of 14% and 19%, respectively, while Wyoming had a modest increase of 2%.

The City of Rochester's median home value in 2017-21 was $93,100, substantially lower than the surrounding suburbs, and a decrease of 8% since 2000. Elsewhere in Monroe County, the 2017-21 median home value was highest in the Towns of Pittsford, at $293,400, and Mendon, at $269,600. The median value was lowest in the Village of Brockport and Town/Village of East Rochester, both at $109,600. Rochester's median home value also was lower than in Geneva ($106,100), Batavia ($108,100) and Canandaigua ($186,300).

Figures for the region and surrounding counties were calculated by aggregating county medians based on each county's share of the region's population. Data are presented in 2021 dollars. Multi-year figures are from the Census Bureau's American Community Survey. The bureau combined five years of responses to the survey to provide estimates for smaller geographic areas and increase the precision of its estimates. The survey provides data on characteristics of the population that used to be collected only during the decennial census.

Because of limitations in available data, figures for 2000 are for single-family homes, but figures for ACS five years are for all owner-occupied housing units. For most counties in New York, the difference is not large enough to affect analysis of trends. Data for this indicator are expected to be released in the fourth quarter.