Rochester, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $510,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $315,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $510,000 |
| 4 bedrooms | $610,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,000 |
| Population Change | 5.1% |
| Total Private Dwellings | 6,200 |
| 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 exhibiting a steady growth pattern. The median house price stands at $510,000, which marks a year-over-year increase of 4%. This steady appreciation in house prices indicates a healthy demand for single-family homes. On the other hand, the median apartment price is at $315,000 with a slightly lower growth rate of 2.5% year-over-year. The slower growth rate in apartment prices may reflect a larger inventory or a preference among buyers for detached homes.
Given the population of 15,200 and an impressive growth rate of 5.14%, Rochester is expanding faster than many other regions. This demographic trend is likely supporting the ongoing demand for housing in the area and can be expected to continue bolstering the real estate market.
Investment Opportunities and Potential
The current trends in Rochester’s real estate market suggest that investment opportunities are ripe, especially for those looking to invest in single-family homes. With median house prices growing at a stable rate of 4%, investors can anticipate a reliable appreciation of property values over time. Apartments also present a viable investment opportunity, particularly for those interested in catering to renters who might be priced out of the competitive market for detached homes.
The robust population growth further accentuates the potential for real estate investments as it signals ongoing and future demand for housing. Investors should consider both immediate rental income possibilities and long-term capital gains, given the sustained upward trajectory of property values.
Future Market Outlook
Rochester’s real estate market shows promise for continued growth going forward. The consistent increase in property values coupled with robust population expansion suggests that the demand for housing will remain strong. If current economic conditions persist and interest rates remain conducive to borrowing, the market could continue on its upward trend.
However, potential investors and homeowners should stay informed about local developments that could impact property values. Factors such as employment rates, infrastructure projects, and changes in local government policies can all have significant effects on the future outlook of Rochester’s real estate market.
In conclusion, Rochester represents a stable and growing market with considerable potential for both homebuyers and investors. Careful consideration of local trends and monitoring economic indicators will be key to making informed decisions in this vibrant Alberta community.
