This Hottest ZIP Code Will Pay You Up to $10,000 To Move There

Realtor September 15, 2024

Buyer

This Hottest ZIP Code Will Pay You Up to $10,000 To Move There

If you’re looking for a city that will pay you to move there—look no further.

Simply head for beautiful Rochester, NY, where its ZIP code 14609 just ranked fifth on the Realtor.com® Hottest ZIP Code in America list.

So how much can you pocket once you box up your belongings and head to upstate New York?

Greater ROC Relocate offers up to $9,000 in grants for purchasing a home in a nine-county region and up to $10,000 in awards for those in targeted career fields.

Candidates must be at least 18, be eligible to work in the U.S., live at least 300 miles from Rochester, and relocate within six months of acceptance.

“We have had over 4,000 program applicants since launching the program in early 2022, and applicants have come from every state in the U.S.,” explains Barb Egenhofer, director of talent strategy at the Greater Rochester Chamber of Commerce.

So far, 170 people have taken advantage of the program—and the savings.

Feel like a fresh start with a fatter bank account? Here’s everything you need to know about this Northeastern city and why so many people want to call it home.

Rochester’s market is hot

When a house catches your eye in Rochester, you should make an offer sooner rather than later.

In the first half of 2024, homes there spent a median of just eight days on the market—45 days less than the national average.

“We are still getting multiple offers with most homes selling for around 15%-20% over asking,” says Jeff Scofield, broker and partner at Re/Max Plus in Rochester, where he has lived nearly all his life. “There are fewer homes available, hence more buyers per listing.”

Properties in the 14609 ZIP code attracted 2.9 times as many views per listing from January through June 2024 compared with the U.S. median, and 55.7% of those views were from outside the region.

The hottest ZIP codes list was compiled by analyzing housing market supply and demand using Realtor.com listing data from January to June 2023. The economic research team assessed the number of views each listing received and the speed at which homes were sold. The list was limited to just one ZIP code per metropolitan area to keep things competitive.

What a home costs in Rochester

Would-be buyers have felt tough economic headwinds in the past few years, which has been a boon for Rochester and its low cost of living.

“As has been the trend since mortgage rates started to climb in 2022, buyer demand has funneled into relatively affordable areas,” says Realtor.com senior economic research analyst Hannah Jones.

In June, its ZIP code had a median list price of $165,000—a whopping $280,000 below the U.S. median.

The inexpensive housing prices are a major draw for buyers.

“For most of my career, people loved the fact that you could get so much more home for your money than where they were coming from,” says Scofield.

rochester 5th hottest zip code

The job market is booming

The unemployment rates in the Rochester metro area sat at 3.7% in June, which was below the national average of 4.1%,“offering prospective buyers a strong economy nearby,” says Jones.

Rochester was the birthplace of Xerox and Kodak, which are still two of the area’s top 50 employers.

Other top employers include University of Rochester, Rochester Regional Health, and Wegmans Food Markets.

Rochester is an action-packed city

Rochester sits on the southern shore of Lake Ontario, the 14th largest lake in the world. So there’s plenty to do in the great outdoors, including biking, hiking, and kayaking.

Or take a short drive to Letchworth State Park, known as the “Grand Canyon of the East,” to see three major waterfalls and majestic 600-foot cliffs surrounded by lush forests.

Rochester is known as a “festival city” that hosts more than 140 annual festivals annually.

“The annual Rochester International Jazz Festival each June is one of the most celebrated annual events, drawing residents and visitors alike,” explains Rachel Laber Pulvino, vice president of communications for Visit Rochester. More than 1,500 artists perform in more than 300 concerts over this internationally renowned, nine-day festival.

Named as one of the best beer cities in the country, Rochester has more than two dozen breweries—including Genesee Brewing, the oldest brewery in New York.

As a result, Rochester attracts a lot of young people, boasting a lower share of households aged 45-plus than the national average.

“What makes Rochester special is the friendly residents,” Marcia Layton Turner, a ghostwriter who has lived in Rochester for more than 30 years, says. “People here say hi, they hold doors open for you, and it’s very common to strike up a conversation with a random person standing nearby. I moved here for a job and then stayed for the people.”

Ready to shop for a home in Rochester? Check out these listings below.