Buffalo housing market
Typical home value
$287K
▲ 3.6% 1 yr
Typical rent
$1,451/mo
▲ 3.9% 1 yr
12-month forecast
+2.6%
#181 of 546 metros
Gross rent yield
6.1%
#251 of 546 · U.S. 6.3%
Days to pending
26 days
▲ +3 days 1 yr
Listings with a price cut
23%
▲ +1.3 pts 1 yr
Key takeaways
- 1The typical home is worth $287,359, up 3.6% in a year and up 32% over five years.
- 2Zillow forecasts home values rising 2.6% over the next 12 months (U.S.: +1.1%).
- 3Typical rent is $1,451/mo (+3.9% YoY), a 6.1% gross yield, below the U.S. 6.3%.
- 4At 7.32% with 20% down, the typical home costs $1,579/mo in principal and interest, $128 more than renting.
- 5Homes go under contract in 26 days (+3 days vs last year); 23% of listings have had a price cut.
Market temperature
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
How fast homes are selling
For saleNew listings
Affordability
To buy (20% down)To rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Buffalo compares
| Measure | Buffalo | United States | Rank of 546 |
|---|---|---|---|
| Home value, 1-yr change | +3.6% | +1.2% | #146 |
| Home value, 5-yr change | +31.9% | +19.7% | |
| 12-month forecast | +2.6% | +1.1% | #181 |
| Rent, 1-yr change | +3.9% | +2.7% | #208 |
| Gross rent yield | 6.1% | 6.3% | #251 |
| Price-to-rent ratio | 16.5 | 15.8 | |
| Mortgage P&I on typical home | $1,579 | $2,012 | |
| Income needed to buy | $74,787 | $100,902 | |
| Days to pending | 26 | 56 |
Cities in the Buffalo metro
4 cities with home value and rent data.
| Buffalo | $244K | ▲ 2.6% | $1,421 | ▲ 3.4% | 7.0% |
| Niagara Falls | $173K | ▲ 4.2% | $1,180 | ▲ 5.9% | 8.2% |
| Williamsville | $417K | ▲ 4.4% | $2,144 | ▲ 4.7% | 6.2% |
| Lockport | $271K | ▲ 5.1% | $1,025 | ▲ 6.5% | 4.5% |
Run the numbers
Rental property calculator
Cash flow on a typical Buffalo rental ($287K, $1,451/mo), pre-filled.
Mortgage calculator
Monthly payment on a typical Buffalo home.
Rent vs buy
Is it cheaper to rent or buy in Buffalo?
Renting out a property in New York? See deposit limits, late fee rules and notice periods.
Other New York metros
New York, NY
$731K home$3,546 rent5.8% yield
▲ 4.9% 1 yr
Rochester, NY
$281K home$1,532 rent6.5% yield
▲ 4.9% 1 yr
Albany, NY
$373K home$1,693 rent5.4% yield
▲ 5.0% 1 yr
Syracuse, NY
$269K home$1,627 rent7.3% yield
▲ 6.6% 1 yr
Utica, NY
$231K home$1,424 rent7.4% yield
▲ 5.8% 1 yr
Binghamton, NY
$203K home$1,610 rent9.5% yield
▲ 6.9% 1 yr
Kingston, NY
$452K home$2,015 rent5.4% yield
▲ 3.6% 1 yr
Jamestown, NY
$181K home$1,078 rent7.2% yield
▲ 4.8% 1 yr
Gross yield = 12 × typical rent ÷ typical home value, before expenses. Mortgage estimate: 20% down, 30-year fixed at the current Freddie Mac average, principal and interest only. Forecast: Zillow Home Value Forecast. Data refreshed Oct 26, 2026.