The median price of a home in the Rochester area has increased over the last year.
However, a recent report by the research affiliate of the National Housing Conference, “Paycheck to Paycheck,” ranked Rochester 162nd of more than 200 of the country’s metro areas in terms of the change in income needed to buy a median-priced home. In the first quarter the median home price increased to $119,000 from $117,000 a year ago, while the qualifying income dropped more than 4 percent to $31,574 from $33,042.
In Buffalo, the median home price increased to $110,000 in the first quarter from $94,000 a year ago, and in Syracuse, the median home price fell from $106,000 in the first quarter last year to $105,000 this year.