Rochester, NY Market Analysis

[Chris Mackey]

Hello BP, I’ve been looking at multi family listings in the Rochester area for long term buy and hold rental units. I am looking for feedback from members that are currently in that market as it relates to what areas are better/worse, how is supply and demand of units, and overall general thoughts on Rochester. Thank you.

[JD DiGiacomandrea]

I have to agree with the general sentiment here. Rochester is a great rental market, but in general there is some significant inflation of prices right now. Its important to keep a few things in mind, we have old houses that will need work to repair, we have high property taxes (2-10x other areas), we have very diverse neighborhoods (street by street). We also have a great sense of community, some great employers, and a very strong rental market. My advice is to stay away from the war zones, make sure you have some cash to do the required repairs, and work with some good local people. 

At the end of the day I want to see my community benefit from landlords by providing a needed service to clean up neighborhoods house by house and provide safe and healthy places to live for everybody. Good luck!