Buffalo
New York · Ranked #220 of 373 metros
70Affordable
💡
Housing in Buffalo costs 3.34× the median income, below the national average of 4.5×. The median home price is $233K and median rent is $1,054/month. Buffalo ranks #220 of 373 metros for affordability.
Median Home Price
🏠$233K
Need $60K income
Median Rent
🔑$1,054
Need $40K income
Housing Shortage
📉10,000
units needed
Building Permits
🔨3,500
annual
Median Income
💰$70K
Pop: 1,166,902
Rent Burden
⚠️31.0%
of renters paying >30%
Price Change (YoY)
📈+6.5%
Homeownership
🏡66.0%
Rent Burden
vs. National Average
Key Facts vs. National Average
| Metric | Buffalo | National |
|---|---|---|
| Price-to-Income Ratio | 3.34x | 6.1x |
| Rent Burden | 31.0% | 31.5% |
| Homeownership Rate | 66.0% | 65.5% |
| YoY Price Change | +6.5% | +3.5% |
| YoY Rent Change | +5% | +2.8% |
| Mortgage Denial Rate | 14.5% | 13.5% |
| Eviction Rate | 4.0% | 3.6% |
House Price Index (2000–2025)
FHFA All-Transactions HPI
Since 2019: +70.2%Since 2000: +227%
HUD Fair Market Rents (FY2026)
Section 8 voucher payment standards
Studio$1,105/mo
1 Bedroom$1,139/mo
2 Bedroom$1,343/mo
3 Bedroom$1,640/mo
4 Bedroom$1,869/mo
Zillow Market Data
Home Value (ZHVI)
$272K
1yr: +4.0%5yr: +41.0%
Rent (ZORI)
$1,374/mo
1yr: +3.4%5yr: +34.5%
Note: ZORI reflects current listing prices and may differ from the Census ACS median rent shown above, which captures what renters actually pay including below-market and subsidized units.
Redfin Market Activity
Median Sale Price
$250K
Active Inventory
621
Days on Market
26
Sold Above List
46.7%
Price Drops
18.8%