For those considering a move to Rochester, I often advise not to make a decision based solely on home prices. While the purchase prices are much lower compared to New York City or Westchester, the property tax rate is among the highest in the nation.

According to various reports citing ATTOM data, Monroe County, where Rochester is located, had an effective property tax rate of about 2.6% as of 2022, and there have been years when the Rochester metro area was ranked first among major metropolitan areas in effective tax rates. This figure significantly exceeds the New York state average (about 1.9%) and the national average (about 1%).

Combining data from sources like Zillow and Redfin, the average home value in Rochester is around $150,000 to $210,000, with a median of $190,000. Based on this median, the annual property tax is estimated to be about $4,800 to $5,000. This structure makes the tax burden feel relatively high compared to home prices.

Nearby suburban towns in Monroe County also have relatively high tax rates, but the city itself often has a higher effective tax rate due to the combination of city, county, and school district taxes. If you have the same budget, I recommend comparing the tax structures between the city and the suburbs first.

Insurance premiums are generally around $1,200 to $1,500 per year, as the area does not face hurricane risks but is prone to lake effect snow and winter freeze damage. Older homes may be scrutinized by insurers regarding roof load and drainage conditions.

Maintenance costs should realistically be estimated at around 1.8% of the home value, which translates to about $3,400 to $3,800 annually, considering that many homes in Rochester are older. Additionally, heating and plumbing management costs should be considered due to the long winters.

The total annual holding costs can be summarized as follows:

• Property Tax: Approximately $4,800 to $5,000
• Home Insurance: Approximately $1,200 to $1,500
• Maintenance Costs: Approximately $3,400 to $3,800

In total, this amounts to about $9,400 to $10,300 annually. While the tax rate is high, the absolute amount is much lower than in New York City or Westchester. You can understand that the lower purchase prices significantly offset the high tax rates.

Along with New York State's STAR exemption, low-income seniors may also qualify for SCHE and veteran exemptions, which can be applied simultaneously. I recommend contacting the Rochester City Assessor's Office to ensure you take advantage of all available exemptions for your household.