ROCHESTER Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Rochester averaged
6.71%
for the week of 2024-07-18, compared to the national average of
6.77% for the same period.
The average rate for the prior week (2024-07-11) was
6.73% and
one month ago for the week of 2024-06-13, the
average rate was 6.59%.
Rochester's average rate one year ago was 6.6%.
For refis of the same type during the week of 2024-07-18, the average rate
was 7.06%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-07-18 | 6.77% |
| Rochester 30 Year Fixed Rate | 2024-07-18 | 6.71% |
| Rochester 30 Year Fixed Rate Refi | 2024-07-18 | 7.06% |
| Rochester 15 Year Fixed Rate | 2024-07-18 | 5.89% |
| Rochester 15 Year Fixed Rate Refi | 2024-07-18 | 6.05% |
| Rochester 30 Year FHA | 2024-07-18 | 6.46% |
| Rochester 30 Year FHA Refi | 2024-07-18 | 6.69% |
| Rochester 30 Year USDA | 2024-07-18 | 6.73% |
| Rochester 30 Year USDA Refi | 2024-07-18 | 6.43% |
| Rochester 30 Year VA | 2024-07-18 | 6% |
| Rochester 30 Year VA Refi | 2024-07-18 | 6.3% |
ROCHESTER Top Lenders by Rates & Fees
The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the ROCHESTER, MN market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).
ROCHESTER Average Closing Costs & Other Stats
ROCHESTER, MN's 140 lenders originated 4,576
loans during 2023. The total origination value was $1,111,950,000, with an average loan value of
$242,996.
ROCHESTER's average closing costs are $4,625.
The top ROCHESTER lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
227 loans originated. Their average total fees are
$6,263, which is $1,257
higher than the next largest lender,
Home Federal Savings Bank.
The lowest fee ROCHESTER lenders (with over 10 loans originated) are
WINGS FINANCIAL ($3,166), Merchants Bank ($4,078), Associated Bank ($4,206), Think Mutual Bank ($4,361) and Wells Fargo Bank ($4,652).
The lowest rate ROCHESTER lenders (with over 10 loans originated) are
MAYO EMPLOYEES FEDERAL CREDIT UNION (5.79%), WINGS FINANCIAL (5.93%), Home Federal Savings Bank (5.98%), Think Mutual Bank (6.17%) and Merchants Bank (6.31%).
ROCHESTER, MN Mortgage Market Share & Volume
Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.
| Name | 2022 Loan Value | 2023 Loan Value | % Change | 2023 Market Share |
|---|---|---|---|---|
| Home Federal Savings Bank | $79,515,000 | $100,460,000 | 26.3% | 9.0% |
| Think Mutual Bank | $126,540,000 | $93,130,000 | -26.4% | 8.4% |
| UNITED WHOLESALE MORTGAGE, LLC | $103,915,000 | $91,335,000 | -12.1% | 8.2% |
| Bell Bank | $70,545,000 | $90,125,000 | 27.8% | 8.1% |
| ALTRA | $57,880,000 | $39,740,000 | -31.3% | 3.6% |
| First Financial Bank | $33,005,000 | n/a | 3.0% | |
| Merchants Bank | $47,155,000 | $32,875,000 | -30.3% | 3.0% |
| U.S. Bank | $47,700,000 | $32,860,000 | -31.1% | 3.0% |
| Bremer Bank | $65,695,000 | $32,590,000 | -50.4% | 2.9% |
| MAYO EMPLOYEES FEDERAL CREDIT UNION | $37,480,000 | $31,405,000 | -16.2% | 2.8% |
| GUARANTEED RATE, INC. | $23,220,000 | $29,885,000 | 28.7% | 2.7% |
| Foresight Bank | $27,015,000 | $28,320,000 | 4.8% | 2.5% |
| West Bank | $2,660,000 | $22,200,000 | 734.6% | 2.0% |
| QUICKEN LOANS, LLC | $37,505,000 | $21,500,000 | -42.7% | 1.9% |
| First Federal Bank | $26,165,000 | $19,285,000 | -26.3% | 1.7% |
| Choice Financial Group | $19,005,000 | n/a | 1.7% | |
| Prosperity Home Mortgage, LLC | $27,165,000 | $18,890,000 | -30.5% | 1.7% |
| F & M Community Bank | $15,950,000 | $18,445,000 | 15.6% | 1.7% |
| ONB Bank | $17,650,000 | n/a | 1.6% | |
| Peoples State Bank of Plainview | $22,325,000 | $17,205,000 | -22.9% | 1.5% |
| LOANDEPOT.COM, LLC | $32,610,000 | $16,735,000 | -48.7% | 1.5% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $19,440,000 | $16,690,000 | -14.1% | 1.5% |
| Associated Bank | $17,095,000 | $15,380,000 | -10.0% | 1.4% |
| GUARANTEED RATE AFFINITY, LLC | $26,955,000 | $15,175,000 | -43.7% | 1.4% |
| Wells Fargo Bank | $49,670,000 | $13,095,000 | -73.6% | 1.2% |
| Frandsen Bank & Trust | $1,240,000 | $11,990,000 | 866.9% | 1.1% |
| AFFINITY PLUS | $12,320,000 | $11,940,000 | -3.1% | 1.1% |
| First Alliance Credit Union | $10,770,000 | $10,460,000 | -2.9% | 0.9% |
| Sterling State Bank | $8,430,000 | n/a | 0.8% | |
| COMPEER FINANCIAL, FLCA | $7,985,000 | $7,535,000 | -5.6% | 0.7% |
| CROSSCOUNTRY MORTGAGE, LLC | $7,530,000 | $7,485,000 | -0.6% | 0.7% |
| Mortgage Research Center, LLC | $12,130,000 | $6,350,000 | -47.7% | 0.6% |
| Servion, Inc. | $15,905,000 | $6,135,000 | -61.4% | 0.6% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $9,485,000 | $5,875,000 | -38.1% | 0.5% |
| Minnwest Bank | $32,110,000 | $5,605,000 | -82.5% | 0.5% |
| Barrington Bank & Trust Company, N.A. | $13,390,000 | $5,055,000 | -62.2% | 0.5% |
| NAVY FEDERAL CREDIT UNION | $6,060,000 | $4,840,000 | -20.1% | 0.4% |
| Century Mortgage Company DBA Century Lending Company | $1,600,000 | $4,585,000 | 186.6% | 0.4% |
| FREEDOM MORTGAGE CORPORATION | $5,055,000 | $4,205,000 | -16.8% | 0.4% |
| BAY EQUITY LLC | $6,085,000 | $4,025,000 | -33.9% | 0.4% |
| Coulee Bank | $11,840,000 | $4,000,000 | -66.2% | 0.4% |
| Manufacturers Bank & Trust Company | $11,880,000 | $3,700,000 | -68.9% | 0.3% |
| WINGS FINANCIAL | $3,725,000 | $3,595,000 | -3.5% | 0.3% |
| NEWREZ LLC | $2,210,000 | $3,170,000 | 43.4% | 0.3% |
| PENNYMAC LOAN SERVICES, LLC | $5,955,000 | $3,160,000 | -46.9% | 0.3% |
| BROKER SOLUTIONS, INC. | $3,995,000 | $2,610,000 | -34.7% | 0.2% |
| MARINE | $2,440,000 | $2,540,000 | 4.1% | 0.2% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $870,000 | $2,515,000 | 189.1% | 0.2% |
| WNB Financial, N.A. | $7,895,000 | $2,365,000 | -70.0% | 0.2% |
| The Huntington National Bank | $10,350,000 | $2,130,000 | -79.4% | 0.2% |
| BMO Harris Bank | $2,705,000 | $2,065,000 | -23.7% | 0.2% |
| TRUSTONE FINANCIAL FEDERAL CREDIT UNION | $1,840,000 | $2,045,000 | 11.1% | 0.2% |
| JPMorgan Chase Bank | $6,755,000 | $1,975,000 | -70.8% | 0.2% |
| Royal Credit Union | $4,335,000 | $1,925,000 | -55.6% | 0.2% |
| CARDINAL FINANCIAL | $6,035,000 | $1,890,000 | -68.7% | 0.2% |
| Citizens Bank | $1,365,000 | $1,860,000 | 36.3% | 0.2% |
| NBKC BANK | $1,230,000 | $1,805,000 | 46.7% | 0.2% |
| Mr. Cooper ( Nationstar Mortgage ) | $4,350,000 | $1,735,000 | -60.1% | 0.2% |
| Plains Commerce Bank | $2,555,000 | $1,725,000 | -32.5% | 0.2% |
| Tradition Mortgage, LLC | $1,025,000 | $1,695,000 | 65.4% | 0.2% |
| Summit Mortgage Corporation | $4,080,000 | $1,685,000 | -58.7% | 0.2% |
| Cambria Financial Group, LLC | $2,775,000 | $1,680,000 | -39.5% | 0.2% |
| Morgan Stanley Private Bank | $985,000 | $1,675,000 | 70.1% | 0.2% |
| American Mortgage & Equity Consultants, Inc. | $2,115,000 | $1,570,000 | -25.8% | 0.1% |
| Alliance Bank | $750,000 | $1,565,000 | 108.7% | 0.1% |
| Lake City Federal Bank | $1,510,000 | n/a | 0.1% | |
| USAA Federal Savings Bank | $2,100,000 | $1,490,000 | -29.0% | 0.1% |
| BETTER MORTGAGE CORPORATION | $3,110,000 | $1,455,000 | -53.2% | 0.1% |
| EVERETT FINANCIAL, INC. | $1,820,000 | $1,390,000 | -23.6% | 0.1% |
| MidWestOne Bank | $1,360,000 | n/a | 0.1% | |
| Bank of America | $3,495,000 | $1,300,000 | -62.8% | 0.1% |
| VILLAGE CAPITAL MORTGAGE | $85,000 | $1,275,000 | 1,400.0% | 0.1% |
| PROVIDENT FUNDING ASSOCIATES, L.P. | $485,000 | $1,210,000 | 149.5% | 0.1% |
| Discover Bank | $725,000 | $1,175,000 | 62.1% | 0.1% |
| First Savings Bank | $1,110,000 | n/a | 0.1% | |
| Paramount Residential Mortgage Group, Inc. | $1,635,000 | $1,080,000 | -33.9% | 0.1% |
| ZILLOW HOME LOANS, LLC | $785,000 | $1,005,000 | 28.0% | 0.1% |
| Stifel Bank and Trust | $1,025,000 | $1,000,000 | -2.4% | 0.1% |
| Alerus Financial | $2,445,000 | $975,000 | -60.1% | 0.1% |
| HOMESTEAD FUNDING CORP. | $940,000 | n/a | 0.1% | |
| AMERICAN FINANCIAL NETWORK, INC. | $925,000 | n/a | 0.1% | |
| UIF CORPORATION | $915,000 | n/a | 0.1% | |
| CRESCENT MORTGAGE COMPANY | $2,915,000 | $900,000 | -69.1% | 0.1% |
| Ally Bank | $1,715,000 | $870,000 | -49.3% | 0.1% |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $1,985,000 | $845,000 | -57.4% | 0.1% |
| PREMIA MORTGAGE, LLC | $1,285,000 | $845,000 | -34.2% | 0.1% |
| Carrington Mortgage Services, LLC | $1,055,000 | $830,000 | -21.3% | 0.1% |
| MOVEMENT MORTGAGE, LLC | $265,000 | $795,000 | 200.0% | 0.1% |
| V.I.P. MORTGAGE, INC. | $245,000 | $790,000 | 222.4% | 0.1% |
| NEW DAY FINANCIAL, LLC | $310,000 | $780,000 | 151.6% | 0.1% |
| LAND HOME FINANCIAL SERVICES, INC. | $1,255,000 | $750,000 | -40.2% | 0.1% |
| HOMEOWNERS FINANCIAL GROUP USA, LLC | $290,000 | $725,000 | 150.0% | 0.1% |
| PNC Bank | $605,000 | $715,000 | 18.2% | 0.1% |
| ANGEL OAK MORTGAGE SOLUTIONS LLC | $1,930,000 | $700,000 | -63.7% | 0.1% |
| Nations Lending Corporation | $205,000 | $700,000 | 241.5% | 0.1% |
| NexBank | $695,000 | n/a | 0.1% | |
| SPIRE Credit Union | $155,000 | $695,000 | 348.4% | 0.1% |
| Deerwood Bank | $80,000 | $685,000 | 756.3% | 0.1% |
| Lend Smart Mortgage, LLC | $810,000 | $685,000 | -15.4% | 0.1% |
| The Federal Savings Bank | $635,000 | $670,000 | 5.5% | 0.1% |
| GUIDANCE RESIDENTIAL, LLC | $1,320,000 | $660,000 | -50.0% | 0.1% |
| Old National Bank | $1,690,000 | $640,000 | -62.1% | 0.1% |
| ALAMEDA MORTGAGE CORPORATION | $1,545,000 | $620,000 | -59.9% | 0.1% |
| FINANCE OF AMERICA REVERSE LLC | $175,000 | $610,000 | 248.6% | 0.1% |
| Flagstar Bank, FSB | $2,680,000 | $595,000 | -77.8% | 0.1% |
| PENTAGON FEDERAL CREDIT UNION | $470,000 | $595,000 | 26.6% | 0.1% |
| PROPONENT Federal Credit Union | $585,000 | n/a | 0.1% | |
| LENDSURE MORTGAGE CORP. | $570,000 | n/a | 0.1% | |
| HIWAY | $840,000 | $555,000 | -33.9% | 0.0% |
| SWBC MORTGAGE CORPORATION | $555,000 | n/a | 0.0% | |
| AMERISAVE MORTGAGE CORPORATION | $3,640,000 | $535,000 | -85.3% | 0.0% |
| CALIBER HOME LOANS, INC. | $1,900,000 | $535,000 | -71.8% | 0.0% |
| Citizens Bank Minnesota | $365,000 | $530,000 | 45.2% | 0.0% |
| EVANSVILLE TEACHERS | $530,000 | n/a | 0.0% | |
| Union Savings Bank | $525,000 | n/a | 0.0% | |
| TOWNE MORTGAGE COMPANY | $475,000 | $520,000 | 9.5% | 0.0% |
| IOWA BANKERS MORTGAGE CORPORATION | $1,210,000 | $510,000 | -57.9% | 0.0% |
| DUPACO COMMUNITY | $415,000 | $505,000 | 21.7% | 0.0% |
| Eitzen State Bank | $1,905,000 | $505,000 | -73.5% | 0.0% |
| CORTRUST MORTGAGE, INC. | $1,135,000 | $495,000 | -56.4% | 0.0% |
| VERIDIAN CREDIT UNION | $495,000 | n/a | 0.0% | |
| TRIAD FINANCIAL SERVICES, INC. | $600,000 | $450,000 | -25.0% | 0.0% |
| Citadel Servicing Corporation | $445,000 | n/a | 0.0% | |
| State Bank Financial | $125,000 | $445,000 | 256.0% | 0.0% |
| First State Bank | $435,000 | n/a | 0.0% | |
| AMWEST FUNDING CORP. | $430,000 | n/a | 0.0% | |
| Coastal Community Bank | $425,000 | n/a | 0.0% | |
| FIRST STATE MORTGAGE SERVICES, LLC | $425,000 | n/a | 0.0% | |
| Deere Employees Credit Union | $715,000 | $420,000 | -41.3% | 0.0% |
| POLARIS HOME FUNDING CORP. | $615,000 | $420,000 | -31.7% | 0.0% |
| Sunrise Banks | $3,580,000 | $420,000 | -88.3% | 0.0% |
| HOMESIDE FINANCIAL, LLC | $450,000 | $410,000 | -8.9% | 0.0% |
| Academy Bank | $405,000 | n/a | 0.0% | |
| MUTUAL OF OMAHA MORTGAGE, INC. | $785,000 | $395,000 | -49.7% | 0.0% |
| THRIVENT Federal Credit Union | $600,000 | $395,000 | -34.2% | 0.0% |
| EMM LOANS LLC | $390,000 | n/a | 0.0% | |
| Figure Lending LLC | $215,000 | $390,000 | 81.4% | 0.0% |
| Fortifi Bank | $385,000 | n/a | 0.0% | |
| GUILD MORTGAGE COMPANY | $375,000 | n/a | 0.0% | |
| First National Bank of Omaha | $365,000 | n/a | 0.0% | |
| First Bank & Trust | $1,245,000 | $360,000 | -71.1% | 0.0% |
| PLAZA HOME MORTGAGE, INC. | $1,340,000 | $350,000 | -73.9% | 0.0% |
| SUN WEST MORTGAGE COMPANY, INC. | $350,000 | n/a | 0.0% | |
| AXIA FINANCIAL, LLC | $565,000 | $345,000 | -38.9% | 0.0% |
| MANN FINANCIAL INC. | $345,000 | n/a | 0.0% | |
| The Loan Store, Inc. | $345,000 | n/a | 0.0% | |
| UBS Bank USA | $565,000 | $345,000 | -38.9% | 0.0% |
| Goldwater Bank, N.A. | $1,755,000 | $340,000 | -80.6% | 0.0% |
| CMG MORTGAGE, INC. | $730,000 | $335,000 | -54.1% | 0.0% |
| Neighborhood Loans, Inc. | $335,000 | n/a | 0.0% | |
| Heritage Bank | $315,000 | n/a | 0.0% | |
| Summit Credit Union | $25,000 | $315,000 | 1,160.0% | 0.0% |
| Magnolia Bank | $305,000 | n/a | 0.0% | |
| TOP FLITE FINANCIAL, INC. | $300,000 | n/a | 0.0% | |
| First Horizon Bank | $295,000 | n/a | 0.0% | |
| AMERICAN FINANCIAL RESOURCES, INC. | $285,000 | n/a | 0.0% | |
| Equity Bank | $285,000 | n/a | 0.0% | |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $825,000 | $285,000 | -65.5% | 0.0% |
| First National Community Bank | $255,000 | n/a | 0.0% | |
| MORIA DEVELOPMENT, INC. | $265,000 | $255,000 | -3.8% | 0.0% |
| North Shore Bank of Commerce | $255,000 | n/a | 0.0% | |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $255,000 | n/a | 0.0% | |
| Flanagan State Bank | $245,000 | n/a | 0.0% | |
| Northpointe Bank | $1,265,000 | $245,000 | -80.6% | 0.0% |
| Community Bank Mankato | $1,205,000 | $235,000 | -80.5% | 0.0% |
| ENVOY MORTGAGE, LTD | $530,000 | $235,000 | -55.7% | 0.0% |
| LENDINGHOME FUNDING CORPORATION | $555,000 | $235,000 | -57.7% | 0.0% |
| MEGASTAR FINANCIAL CORP. | $285,000 | $235,000 | -17.5% | 0.0% |
| Pioneer Bank | $235,000 | n/a | 0.0% | |
| BANKWEST, INC. | $230,000 | n/a | 0.0% | |
| LOANPAL, LLC | $225,000 | n/a | 0.0% | |
| Profinium Inc. | $225,000 | n/a | 0.0% | |
| Bethpage Federal Credit Union | $220,000 | n/a | 0.0% | |
| CALCON MUTUAL MORTGAGE LLC | $165,000 | $220,000 | 33.3% | 0.0% |
| LONGBRIDGE FINANCIAL, LLC | $220,000 | n/a | 0.0% | |
| GENISYS | $215,000 | n/a | 0.0% | |
| Pinnacle Bank | $215,000 | n/a | 0.0% | |
| Bank-Fund Staff Federal Credit Union | $205,000 | n/a | 0.0% | |
| Bluff View Bank | $205,000 | n/a | 0.0% | |
| Gate City Bank | $570,000 | $205,000 | -64.0% | 0.0% |
| Minnesota Valley Federal Credit Union | $205,000 | n/a | 0.0% | |
| American Airlines Federal Credit Union | $195,000 | n/a | 0.0% | |
| Arvest Bank | $195,000 | n/a | 0.0% | |
| CITY FIRST MORTGAGE SERVICES, L.L.C. | $195,000 | n/a | 0.0% | |
| Firefighters Credit Union | $195,000 | n/a | 0.0% | |
| Sierra Pacific Mortgage Company, Inc. | $255,000 | $195,000 | -23.5% | 0.0% |
| University of Wisconsin Credit Union | $365,000 | $190,000 | -47.9% | 0.0% |
| American State Bank | $265,000 | $185,000 | -30.2% | 0.0% |
| Bridgewater Bank | $7,145,000 | $185,000 | -97.4% | 0.0% |
| COMPASS MORTGAGE, INC. | $185,000 | n/a | 0.0% | |
| Quontic Bank | $185,000 | n/a | 0.0% | |
| ALLIANT | $175,000 | n/a | 0.0% | |
| LAKEVIEW LOAN SERVICING, LLC | $1,615,000 | $175,000 | -89.2% | 0.0% |
| Availa Bank | $165,000 | n/a | 0.0% | |
| Northview Bank | $165,000 | n/a | 0.0% | |
| ROUNDPOINT MORTGAGE SERVICING CORPORATION | $165,000 | n/a | 0.0% | |
| Truist | $235,000 | $165,000 | -29.8% | 0.0% |
| BankVista | $155,000 | n/a | 0.0% | |
| GREENSTATE CREDIT UNION | $155,000 | n/a | 0.0% | |
| AMERICAN FINANCING CORPORATION | $650,000 | $145,000 | -77.7% | 0.0% |
| Community Savings Bank | $145,000 | n/a | 0.0% | |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $555,000 | $145,000 | -73.9% | 0.0% |
| Pinnacle Bank | $145,000 | n/a | 0.0% | |
| Fidelity Bank | $130,000 | n/a | 0.0% | |
| Castle Rock Bank | $125,000 | n/a | 0.0% | |
| MASON MCDUFFIE MORTGAGE CORPORATION | $255,000 | $125,000 | -51.0% | 0.0% |
| EMBRACE HOME LOANS, INC. | $115,000 | n/a | 0.0% | |
| GENEVA FINANCIAL, LLC | $105,000 | n/a | 0.0% | |
| LAFAYETTE FEDERAL CREDIT UNION | $95,000 | n/a | 0.0% | |
| Johnson Bank | $765,000 | $85,000 | -88.9% | 0.0% |
| 21ST MORTGAGE CORPORATION | $70,000 | n/a | 0.0% | |
| First American Bank | $145,000 | $55,000 | -62.1% | 0.0% |
| Southwest Airlines Federal Credit Union | $55,000 | n/a | 0.0% | |
| Third Federal Savings and Loan Association of Cleveland | $55,000 | n/a | 0.0% | |
| CO-OP Credit Union | $35,000 | n/a | 0.0% | |
| Lake Elmo Bank | $345,000 | $25,000 | -92.8% | 0.0% |
| Signature Federal Credit Union | $15,000 | n/a | 0.0% |
ROCHESTER's top lender by overall market share is Home Federal Savings Bank, with 9.0% market share. In second place, with 8.4%, is Think Mutual Bank, having originated $93,130,000 in loans. In third place, with 8.2%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $91,335,000 in loans. In fourth place, with 8.1%, is Bell Bank, having originated $90,125,000 in loans. In fifth place, with 3.6%, is ALTRA, having originated $39,740,000 in loans.
ROCHESTER, MN Average Rent (2023)
Zoom/scroll map to see average rent by zip code. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results.
| Zip Code | Metro | Studio Apartment Rent | 1BR Apartment Rent | 2BR Apartment Rent | 3BR Apartment Rent | 4BR Apartment Rent |
|---|---|---|---|---|---|---|
| 55901 | Rochester, MN HUD Metro FMR Area | $870 | $1,010 | $1,260 | $1,790 | $2,150 |
| 55902 | Rochester, MN HUD Metro FMR Area | $1,000 | $1,170 | $1,450 | $2,060 | $2,470 |
| 55903 | Rochester, MN HUD Metro FMR Area | $860 | $1,010 | $1,250 | $1,780 | $2,130 |
| 55904 | Rochester, MN HUD Metro FMR Area | $780 | $910 | $1,130 | $1,610 | $1,920 |
| 55905 | Rochester, MN HUD Metro FMR Area | $860 | $1,010 | $1,250 | $1,780 | $2,130 |
| 55906 | Rochester, MN HUD Metro FMR Area | $750 | $870 | $1,080 | $1,530 | $1,840 |
| 55917 | Rochester, MN HUD Metro FMR Area | $660 | $780 | $990 | $1,400 | $1,690 |
| 55920 | Rochester, MN HUD Metro FMR Area | $860 | $1,000 | $1,240 | $1,760 | $2,110 |
| 55923 | Rochester, MN HUD Metro FMR Area | $700 | $780 | $990 | $1,400 | $1,690 |
| 55924 | Rochester, MN HUD Metro FMR Area | $660 | $780 | $990 | $1,400 | $1,690 |
| 55927 | Rochester, MN HUD Metro FMR Area | $660 | $780 | $990 | $1,400 | $1,690 |
| 55929 | Rochester, MN HUD Metro FMR Area | $660 | $780 | $990 | $1,400 | $1,690 |
| 55932 | Rochester, MN HUD Metro FMR Area | $660 | $780 | $990 | $1,400 | $1,690 |
| 55934 | Rochester, MN HUD Metro FMR Area | $660 | $780 | $990 | $1,400 | $1,690 |
| 55940 | Rochester, MN HUD Metro FMR Area | $660 | $780 | $990 | $1,400 | $1,690 |
| 55944 | Rochester, MN HUD Metro FMR Area | $660 | $780 | $990 | $1,400 | $1,690 |
| 55946 | Rochester, MN HUD Metro FMR Area | $660 | $780 | $990 | $1,400 | $1,690 |
| 55955 | Rochester, MN HUD Metro FMR Area | $660 | $780 | $990 | $1,400 | $1,690 |
| 55956 | Rochester, MN HUD Metro FMR Area | $710 | $870 | $990 | $1,410 | $1,690 |
| 55960 | Rochester, MN HUD Metro FMR Area | $1,110 | $1,290 | $1,610 | $2,280 | $2,740 |
| 55963 | Rochester, MN HUD Metro FMR Area | $800 | $930 | $1,160 | $1,650 | $1,980 |
| 55964 | Rochester, MN HUD Metro FMR Area | $660 | $780 | $990 | $1,400 | $1,690 |
| 55972 | Rochester, MN HUD Metro FMR Area | $660 | $780 | $990 | $1,400 | $1,690 |
| 55973 | Rochester, MN HUD Metro FMR Area | $660 | $780 | $990 | $1,400 | $1,690 |
| 55976 | Rochester, MN HUD Metro FMR Area | $780 | $910 | $1,130 | $1,610 | $1,920 |
| 55982 | Rochester, MN HUD Metro FMR Area | $660 | $780 | $990 | $1,400 | $1,690 |
| 55985 | Rochester, MN HUD Metro FMR Area | $860 | $1,000 | $1,240 | $1,760 | $2,110 |
| 55991 | Rochester, MN HUD Metro FMR Area | $660 | $790 | $990 | $1,400 | $1,690 |
2022 Average & Median Rent Data Statistics
ROCHESTER, MN average 1BR rent: $874, median: $780
ROCHESTER, MN average 2BR rent: $1,094, median: $990
ROCHESTER, MN average 3BR rent: $1,551, median: $1,400
ROCHESTER, MN Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 2,844 | $925,270,000 | $325,341 |
| Home Improvement | 626 | $40,980,000 | $65,463 |
| Other | 445 | $35,485,000 | $79,742 |
| Refi | 347 | $50,525,000 | $145,605 |
| Cash Out Refi | 314 | $59,690,000 | $190,096 |
Rochester's most frequently cited loan purpose was Home Purchase, with 2,844 originations. The 2nd most popular reason was Home Improvement, with 626 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 1,691 | $406,015,000 | $240,103 |
| 7-8% | 871 | $216,015,000 | $248,008 |
| 5-6% | 777 | $227,145,000 | $292,336 |
| Over 8% | 436 | $80,170,000 | $183,876 |
| 4-5% | 112 | $36,830,000 | $328,839 |
| <2.5% | 85 | $1,395,000 | $16,412 |
| 2.5-3% | 57 | $4,465,000 | $78,333 |
| 3-4% | 19 | $5,445,000 | $286,579 |
During 2023, Rochester's most frequently originated rate bucket was 6-7%, with 1,691 originations.
Loan Sizing (ROCHESTER, MN MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 1,659 | $458,185,000 | $276,181 |
| $100,000 or less | 1,438 | $68,310,000 | $47,503 |
| $100k-200k | 950 | $143,030,000 | $150,558 |
| $400k-600k | 352 | $166,930,000 | $474,233 |
| $600k-1000k | 114 | $83,080,000 | $728,772 |
| $Over $1MM | 63 | $192,415,000 | $3,054,206 |
ROCHESTER's loan sizing saw the bucket of loans from $200k-400k with 1,659 originations, totaling $458,185,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 1,678 | $539,270,000 | $321,377 |
| Under 20% | 950 | $40,180,000 | $42,295 |
| 60-80% | 683 | $211,415,000 | $309,539 |
| 20-40% | 438 | $46,850,000 | $106,963 |
| 40-60% | 283 | $130,695,000 | $461,820 |
| Over 100% | 22 | $7,720,000 | $350,909 |
ROCHESTER's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 1,678 originations, totaling $539,270,000 in origination value.