Buffalo, NY housing market
Typical home value
$244K
▲ 2.6% 1 yr
Typical rent
$1,421/mo
▲ 3.4% 1 yr
Gross rent yield
7.0%
U.S. 6.3%
5-year home value change
+33%
U.S. +20%
Key takeaways
- 1The typical home in Buffalo is worth $244,068, up 2.6% over the past year and up 33% over five years.
- 2Typical rent is $1,421 a month (+3.4% YoY), a gross rent yield of 7.0% (above the Buffalo, NY metro's 6.1%).
- 3With 20% down at 7.32%, principal and interest on the typical home is about $1,341/mo, $80 less than typical rent.
- 4Zillow forecasts the Buffalo, NY metro's home values to change +2.6% over the next 12 months.
Market temperature (Buffalo, NY metro)
Neutral market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 53/100, #97 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Buffalo compares
| Measure | Buffalo | Buffalo, NY metro | United States |
|---|---|---|---|
| Typical home value | $244,068 | $287,359 | $366,157 |
| Home value, 1-yr change | +2.6% | +3.6% | +1.2% |
| Typical rent | $1,421 | $1,451 | $1,932 |
| Rent, 1-yr change | +3.4% | +3.9% | +2.7% |
| Gross rent yield | 7.0% | 6.1% | 6.3% |
| Price-to-rent ratio | 14.3 | 16.5 | 15.8 |
| Mortgage P&I, typical home | $1,341 | $1,579 | $2,012 |
Run the numbers
Rental property calculator
Cash flow on a typical Buffalo rental, pre-filled.
Rent vs buy in Buffalo
Which costs less over the years you'll stay.
Mortgage calculator
Monthly payment on a $244K home.
Landlord in New York? See New York deposit, late fee and notice rules.
Other cities in the Buffalo, NY metro
Niagara Falls, NY
$173K home$1,180 rent
▲ 4.2% 1 yr
Williamsville, NY
$417K home$2,144 rent
▲ 4.4% 1 yr
Lockport, NY
$271K home$1,025 rent
▲ 5.1% 1 yr
City figures are Zillow's typical home value (ZHVI) and observed rent (ZORI). Gross yield is before expenses. Data refreshed Oct 26, 2026.