Rochester, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.2% |
| Quarterly trend | 3.5% |
| Stock on market | 0.8% |
Apartment
| Median price | $300,000 |
| Monthly growth | 0.9% |
| Quarterly trend | 2.1% |
| Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,300 |
| Population Change | 4.9% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Rochester, Alberta is currently experiencing steady growth. The median house price in the region stands at $500,000, with a year-over-year increase of 3.5%. This indicates a healthy market trend that is slightly ahead of inflation, suggesting that the housing market remains a stable investment. The median apartment price is currently $300,000, with a slightly lower growth rate of 2.1% year-over-year. This suggests that the apartment market is growing more modestly compared to houses.
Investment Opportunities and Potential
Given the growth trends in Rochester’s real estate market, there are several promising investment opportunities. For investors looking for steady appreciation in property values, single-family homes appear to be a solid choice given the higher growth rate. Apartments also present a valuable opportunity for those seeking more affordable investment options with potential for rental income. With the population of Rochester growing at 4.9%, demand for housing is likely to increase, which could lead to higher occupancy rates for rental properties and potential for further appreciation.
Future Market Outlook
The future outlook of Rochester’s real estate market looks positive. The consistent population growth suggests an increasing demand for housing which may continue to drive prices upward. Assuming similar economic conditions persist, we can anticipate continued moderate growth in housing prices across both houses and apartments. However, investors should remain aware of broader economic factors that may impact interest rates and affordability, which could alter this trajectory.
