Quick answer
The median home in Rochester costs $195K. With 20% down ($39K) at 7% for 30 years, the monthly payment is $1,038/month. Total interest paid over 30 years: $217,634.
Calculator · NY · 2026
Mortgage Calculator for Rochester, NY (2026)
Pre-filled with Rochester's median home price of $195K. Compare payments across down payment sizes and loan terms at the current 7.0% baseline rate.
Last updated: April 23, 2026
Rochester Mortgage Payment Scenarios
Median home price: $195K · Interest rate: 7% · Excludes property taxes and insurance.
| Down Payment | Down ($) | Loan Amount | 30-yr/mo | 15-yr/mo | Total Interest (30yr) |
|---|---|---|---|---|---|
| 5% | $9,750 | $185,250 | $1,232 | $1,665 | $258,440 |
| 10% | $19,500 | $175,500 | $1,168 | $1,577 | $244,838 |
| 20% | $39,000 | $156,000 | $1,038 | $1,402 | $217,634 |
PMI required for <20% down — add ~$100–300/month to payments above.
Rent vs Buy in Rochester
Monthly cost comparison based on median prices — 20% down, 30-year mortgage at 7%.
Buying (median home)
+ builds equity in $195K asset
Renting (2-bedroom)
Flexibility to move; no equity built
Amortization Over Time
$195K home · 20% down ($156K loan) · 7% · 30 years
Year 1
Year 15
Year 30 (Final)
Frequently Asked Questions
What is the monthly mortgage payment for a home in Rochester?
The median home price in Rochester is $195K. With 20% down and a 30-year loan at 7%, the monthly payment is $1,038. Adding estimated property taxes and insurance brings total monthly costs to approximately $1,233.
Is it cheaper to rent or buy in Rochester?
A 2-bedroom rental in Rochester averages $1,300/month. Buying the median $195K home with 20% down costs approximately $1,233/month (mortgage + taxes + insurance) — $67 less than renting. However, buying builds equity while renting does not.
How much do I need to earn to buy a home in Rochester?
Using the 28% housing rule, you need at least $44K–53K in annual gross income to comfortably afford the median $195K home in Rochester with 20% down. You also need $39K+ saved for the down payment plus 2–5% in closing costs.
What are property taxes like in Rochester?
NY has a state income tax rate of 10.9% (top). Property taxes vary by county but on a $195K home, expect $163–$325/month in property taxes (1–2% annual rate). This is in addition to your mortgage payment.