Rochester Hills, Michigan Housing Market Prices
Rochester Hills Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 65% above the Michigan median$228,576
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Median rent 46% above the Michigan median$1,644
Housing Market Overview
| Metric | Rochester Hills | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $228,576 | $138,713 | $248,835 |
| Price Trend (Annual %) | 10.8% | 8.6% | 7.5% |
| Median Gross Rent | $1,644 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 4.7% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Rochester Hills is about 65% higher than in Michigan. Rent is about 46% higher than the Michigan average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Rochester Hills, up about 10.8% and 4.7% a year respectively. Home prices are changing faster.
Median rent in Rochester Hills rose about 50.1% between 2015 and 2024, from $1,095 to $1,644. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 1.9 yearly household incomes in Rochester Hills.
Buying the median-priced home in Rochester Hills costs roughly 11.6 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Rochester Hills. The price-to-rent ratio in Michigan is about 10.2.
| Metric | Rochester Hills | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $228,576 | $138,713 | $248,835 |
| Median Household Income | $120,798 | $72,977 | $80,455 |
| Price-to-Income Ratio | 1.9 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Rochester Hills rose about 114.6%, while median household income rose about 40.8% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Rochester Hills | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 73.1% | 64.6% | 58.5% |
| Rental Rate | 22.2% | 23.6% | 31.2% |
| Vacancy Rate | 4.6% | 11.8% | 10.2% |
| Median Tenure (years) | 14.0 | 16.0 | 15.0 |
| Median Year Moved In | 2012 | 2010 | 2011 |
Rochester Hills has a homeownership rate of 73.1%, higher than the Michigan average of 64.6%. Its housing vacancy rate is 4.6%, compared with 11.8% in Michigan.
Housing Stock
| Metric | Rochester Hills | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.54 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1984 | 1972 | 1978 |
| Median Number of Rooms | 6.7 | 5.9 | 5.5 |
The typical housing unit in Rochester Hills was built around 1984. On average, 2.5 people live in a home with about 6.7 rooms, staying for about 14.0 years on average.
Rochester Hills, MI Housing Compared With Nearby Cities
How Rochester Hills, MI compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Rochester Hills, MI | 77,315 | $228,576 #2/2 | $1,644 #1/2 | 76.7% #1/2 |
| Troy, MI | 87,876 | $355,241 | $1,601 | 73.3% |
Frequently Asked Questions
Common questions about the housing market in Rochester Hills, Michigan.
What is the median home price in Rochester Hills, Michigan?
The median home price in Rochester Hills, Michigan is $228,576, higher than the Michigan average of $138,713.
What is the average home price in Rochester Hills, Michigan?
The typical home price in Rochester Hills, Michigan, reported as the median sale price, is $228,576. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Rochester Hills, Michigan?
The median gross rent in Rochester Hills, Michigan is $1,644 per month, higher than the Michigan average of $1,129.
What was the median gross rent in Rochester Hills in 2020?
In 2020, the median gross rent in Rochester Hills, Michigan was $1,311 per month.
What is the price-to-rent ratio in Rochester Hills, Michigan?
The price-to-rent ratio in Rochester Hills, Michigan is about 11.6, meaning it would take roughly 11.6 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Rochester Hills.
Are home prices or rent rising faster in Rochester Hills, Michigan?
Both home prices and rent are rising in Rochester Hills, up about 10.8% and 4.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Rochester Hills, Michigan?
73.1% of households in Rochester Hills, Michigan own their home, higher than the Michigan average of 64.6%.
What is the vacancy rate in Rochester Hills, Michigan?
The housing vacancy rate in Rochester Hills, Michigan is 4.6%, lower than the Michigan average of 11.8%.
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