Housing is an important asset to our region. Old and new developments offer a diverse mix of styles, materials and landscapes that make the region an attractive place to call home. Housing tends to be more affordable here than elsewhere in the nation. The median price of purchasing a home is significantly lower than state and national averages while the cost of rental housing is also lower than state and national levels. However, housing is much less affordable for some racial and ethnic groups in our region, and less affordable in the City of Rochester.

Median home values in the region rose between 2000 and 2017-21, and housing was more affordable than in the state or nation. Regional home values increased 2% from 2000 to 2017-21 to $151,400, below the nation ($244,900) and state ($340,600). Housing in our region was more affordable than the state and nation, with a ratio of home value to income of 2.3, compared to 4.5 in the state and 3.5 nationwide.

The median monthly rent in the region was about $940, lower than both the state ($1,390) and nation ($1,160) and down 2% since 2000. However, renters in our region spent a third of their income on rent (32%) in 2017-21, similar to the state and nation, and above what is considered affordable (30%).

Rental costs, though, consumed 40% of income for black or African American renters and  35% for Hispanic or Latino renters, compared to 27% for whites and 23% for Asians. And in the City of Rochester, 42% of housing units were considered unaffordable for renters and owners, compared to 28% region-wide.

Homeownership rates in the region have remained level since 2000, with 68% of homes occupied by owners in 2017-21, above state (54%) and national (65%) levels. The City of Rochester had the lowest homeownership rate (37%) and a median home value of $93,100 for 2017-21, down 8% from 2000.

Homelessness is a growing problem in Monroe County. Estimates of the number of people homeless at a given point in time, usually a single night in January, show that there were 11 homeless people for every 10,000 residents in Monroe in 2020 and 11 in Wayne, Ontario, Seneca and Yates. This was below rates for the nation (18) and the state (45).