Since its founding in the late 18th century, Rochester has been a dynamic place to live. Situated in western New York, the city initially flourished with its natural resources and proximity to the Lake Ontario and the Finger Lakes, then later the Erie Canal. Today, it is a major education, medical and technology center, being home to the prestigious University of Rochester and its hospital system, the Eastman School of Music and Rochester Institute of Technology. These world-renown institutions are global leaders in nano-science, music neurology and men’s squash, among other specialties, bringing the best-of-the-best to the city. But more importantly, Rochester is a “nice” place to live. It has the amenities of a large city – everything from museums and culture to great food to efficient public transportation – with a high quality of life typically associated with small towns: local businesses, easy commutes and friendly people with a cost of living about 20% below the national average.
Moreover, Rochester offers a terrific opportunity for those looking for investment real estate. Valuations of real estate assets in the greater Rochester area exhibit low volatility relative to other areas of the country; the Brookings Institute and a July 2014 Zillow Real Estate Research report ranked Rochester, NY as having the 3rd lowest risk of any US real estate market based on data from 1979 – 2014. Real Estate in Rochester held steady throughout the Great Recession and has always achieved consistent returns.