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City · 276,854 residents · Erie County, New York

Buffalo , New York

In Buffalo, a typical home is worth $164,200 and typical rent is $1,046 a month. Compared with all of Erie County, typical household income is 31% lower, the typical home value is 30% lower, and the share of households that own their home is 23 points lower.

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  • Typical home value

    $164,200

    30% below the county

    61% below New York

    • Buffalo
    • Erie
    • New York

  • Typical rent

    $1,046a month

    4% below the county

    35% below New York

    • Buffalo
    • Erie
    • New York

  • Typical household income

    $50,041a year

    31% below the county

    42% below New York

    • Buffalo
    • Erie
    • New York

  • Households that own their home

    43%

    23 points below the county

    11 points below New York

    • Buffalo
    • Erie
    • New York

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$244,068
2.6% more than 12 months ago
Typical rent
$1,421 a month
3.4% more than 12 months ago

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Buffalo is in Erie County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Erie County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Buffalo apart

What this place has that others do not, from public data, most unusual first.

  1. 43% of households in Buffalo own their home, against 66% in Erie County.

  2. The typical household income in Buffalo is $50,041, 31% less than in Erie County as a whole ($72,839).

  3. The typical home in Buffalo is worth $164,200, 30% less than in Erie County as a whole ($233,800).

  4. Nearby, in Lackawanna, the typical rent is $872: 17% less than in Buffalo ($1,046).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Buffalo

What homes there are in Buffalo, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

In Buffalo there is a bit of everything: no kind of home reaches half. The most common are buildings of 2 to 4 homes (43%), more than in Erie County (23%).

Year built

Old homes abound here: at least half date from before 1940, and 80% were built before 1960.

There are fewer big homes in Buffalo than in Erie County: 56% have 3 bedrooms or more, against 64%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

About 92% of owner-occupied homes in Buffalo are worth less than the FHA loan limit for Erie County ($541,287).

Monthly rent with utilities

About 78% of rented homes in Buffalo cost less than HUD's 2-bedroom fair market rent for Erie County ($1,423).

With a mortgage

$1,207 a month

Erie County: $1,619 a month

Without a mortgage

$473 a month

Erie County: $661 a month

Owners with a mortgage

52%

Erie County: 57%

Owning costs less in Buffalo: with a mortgage, the typical cost is $1,207 a month; in Erie County, $1,619. Without one, $473.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

The typical home value in Buffalo rose 83% since 2015–2019, more than in Erie County (52%).

The typical rent in Buffalo rose 35% over the same time; in Erie County, it rose 32%.

The typical household income in Buffalo rose 34% over that time; home values changed +83% and rent +35%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureBuffaloErie CountyNew YorkUnited States
Rental vacancy 4.3%3.8%3.8%5.5%
Homeowner vacancy 0.7%0.6%1.1%0.9%
More than one person per room 2.0%1.3%5.3%3.4%
People per household 2.252.262.492.53
Drive alone 63%72%49%69%
Carpool 10%8%6%9%
Public transit 8%3%22%3%
Walk or bike 5%3%6%3%
Work from home 11%13%15%15%
Other means 3%1%2%2%
Typical commute 10 to 19 minutesUnreliable estimate20 to 29 minutes20 to 29 minutes

Much as in Erie County, the rental vacancy rate in Buffalo is 4.3%.

In Buffalo, 2.0% of households live with more than one person per room, about the same as in Erie County.

Much as in Erie County, a household in Buffalo has 2.25 people on average.

Public transit matters here: 8% of workers take it to work, against 3% in Erie County.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Buffalo?

A typical home is tight for the typical income

We start with a typical home in Buffalo, worth $164,200, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 33% of the typical household income in Buffalo, which is $50,041 a year. For that payment to be 28% of income, a household would need to earn about $58,659 a year.

The calculator's FHA and conventional loan limits are those of all of Erie County.

Your numbers

Local data
$

Starts at the typical home value in Buffalo. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $5,747 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$1,369

at 7.18% · 30 years

Loan amount
$161,226
Total interest
$231,966
Paid off in
November 2056

Includes $2,773 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,168 a month

  • Tight

    $1,168 to $1,501 a month

    Your payment · 33%

  • Hard

    more than $1,501 a month

Compared with the typical household income in Buffalo ($50,041 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$1,369
Principal & interest$1,092
Property tax$136
Home insurance$68
FHA mortgage insurance (MIP)$73

You need at least $5,747 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Buffalo and Erie County

Buffalo is in Erie County, New York. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Buffalo's own numbers

Typical home value
$164,200
Typical monthly rent
$1,046
Typical yearly household income
$50,041
Households that own their home
43%
Effective property tax rate
0.99%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Erie County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,423
Price change over 5 years (FHFA)
+58%
Homes in a high flood-risk zone
1%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Erie County.

Everything about Erie County

Buying

Buying a home in Buffalo

A typical home in Buffalo is worth $164,200: 30% below the county and 61% below New York. With the typical household income in Buffalo ($50,041 a year), a typical home costs 3.3 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Buffalo 3.3 years
  • Erie 3.2 years
  • New York 4.9 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Erie County

According to FHFA’s house price index, home prices in Erie County rose 104% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Erie County.

Period County New York U.S.
Last year (2025) +6.2% +6.0% +2.9%
5 years (2020–2025) +58% +52% +47%
10 years (2015–2025) +104% +86% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Buffalo next to Erie County, New York and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Buffalo $164,200
  • Erie $233,800
  • New York $423,800
  • United States $332,700
Typical monthly rent
  • Buffalo $1,046
  • Erie $1,090
  • New York $1,621
  • United States $1,413
Typical yearly household income
  • Buffalo $50,041
  • Erie $72,839
  • New York $85,974
  • United States $80,734
See the full table
Buffalo next to Erie County and New York
Measure Buffalo Erie County New York U.S.
Typical home value $164,200 $233,800 $423,800 $332,700
Typical monthly rent $1,046 $1,090 $1,621 $1,413
Typical yearly household income $50,041 $72,839 $85,974 $80,734
Households that own their home 43% 66% 54% 65%
Typical yearly property tax $1,622 $4,622 $6,582 $3,119
Effective property tax rate 0.99% 1.98% 1.55% 0.94%
Renters with high rent for their income 52% 50% 52% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Erie County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Buffalo

For a typical $164,200 home in Buffalo, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Buffalo's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $1,369a month

    Least cash to close
    Down payment
    $5,747
    Cash to close
    $10,673
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $73

  • Conventional, 5% down $1,339a month

    Down payment
    $8,210
    Cash to close
    $13,136
    Rate
    7.18%
    Mortgage insurance
    PMI · $78

  • Conventional, 20% down, no PMI $1,094a month

    Down payment
    $32,840
    Cash to close
    $37,766
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,246a month

    Down payment
    $24,630
    Cash to close
    $29,556
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Buffalo and for Erie County.

Property tax

Effective rate in Buffalo

0.99%of the home’s value each year

$1,622 a year for the typical owner in Buffalo.

  • Buffalo 0.99%
  • Erie 1.98%
  • New York 1.55%

What New York publishes Basic STAR school tax relief (New York State Department of Taxation and Finance)

Exemptions and deadlines in New York

Flood risk in Erie County

FEMA does not publish these numbers by city: they are for all of Erie County.

Homes in the high-risk zone
1%
3,298
Of those, with NFIP insurance
28%
County New York U.S.
Homes in the high-risk zone 1% 2% 3.5%
Of those, with NFIP insurance 28% 76% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Buffalo

Typical rent in Buffalo is $1,046 a month: 4% below the county. In Buffalo, 52% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Erie County, by unit size. To pay the 2-bedroom one ($1,423 a month) without spending more than 30% of your income, you would need to earn $27.37 an hour working full time.

HUD fair market rent for all of Erie County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,178 $22.65 $47,120
1 bedroom $1,203 $23.13 $48,120
2 bedrooms $1,423 $27.37 $56,920
3 bedrooms $1,732 $33.31 $69,280
4 bedrooms $1,977 $38.02 $79,080

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Buffalo

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Buffalo has 17 ZIP codes with their own.

For 2 bedrooms it runs from $1,200 in 14204 to $1,970 in 14203.

7 of the 17 are above the fair market rent for Erie County ($1,423).

7 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Buffalo when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Buffalo

HUD lists 133 buildings with rents for lower incomes in Buffalo. These are the largest.

  • Kenfield Homes 326 Edison Ave, Buffalo 14215 658 homes, 651 low-income · Run by Buffalo Municipal Housing Authority · Average payment: $377 a month · Average wait: 11 months (716) 855-6711
  • Shaffer Village & Lasalle Courts 134 Isabelle St, Buffalo 14207 439 homes, 436 low-income · Run by Buffalo Municipal Housing Authority · Average payment: $442 a month · Average wait: 16 months (716) 855-6711
  • Comm. Perry Ext. Hr., Slater & Mullen 344 Perry St, Buffalo 14204 400 homes, 381 low-income · Run by Buffalo Municipal Housing Authority · Average payment: $348 a month · Average wait: 12 months (716) 855-6711
  • Langfield Homes 103A Langfield Dr, Buffalo 14215 310 low-income homes · Run by Buffalo Municipal Housing Authority · Average payment: $460 a month · Average wait: 24 months (716) 855-6711
  • Towne Gardens 9 Curry Walk, Buffalo 14204 360 homes, 302 low-income · For families (716) 843-8673

See all 231 buildings in Erie County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Buffalo

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There are 5 HUD-approved agencies with an office in Erie County; 2 say they serve in Spanish.

Two women and a girl laugh together at the bus stop.

HUD counseling is free or low-cost

Assistance programs in Buffalo

No down payment, repair or rent-help program on our list is for Buffalo or Erie County. The ones below are statewide in New York: they work in Buffalo the same as in the rest of the state.

Which programs do I qualify for? All programs in New York

Housing counselors near Buffalo

The HUD-approved agencies closest to the center of Buffalo, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Buffalo Urban League, Inc.

    15 Genesee St, Buffalo · 1 miles away

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 9 more
    (716) 250-2400

  • NSC (naca Counseling Subsidiary) - Buffalo, NY

    135 Delaware Ave Ste 102, Buffalo · 1 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 5 more
    (716) 834-6222

  • Operation Hope- Buffalo Ny Branch

    752 E Delavan Ave, Buffalo · 3 miles away

    • Mortgage delinquency workshops
    • Fair housing pre-purchase workshops
    • and 4 more
    (716) 342-5580

Every agency in Erie County All counseling agencies in New York

Help in Spanish near Buffalo

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Buffalo

HUD’s record names them for Buffalo or Erie County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Buffalo Municipal Housing Authority Public housing and Section 8 vouchers (716) 855-6711
  • City of Buffalo Section 8 vouchers (716) 882-0063

4 other authorities have an office in Erie County: see the list Source: HUD

Cities

Other cities in Erie County

These cities are also in Erie County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Erie County Housing in New York
See 2 more cities in Erie County, with prices and rents

Every city has its own page with prices, rents and help.

Nearby cities

The cities closest to Buffalo, with the typical home value.

Neighboring counties

If Erie County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Buffalo.

All guides
Three women of one family lean in together to stir the pan.

Questions

Housing questions about Buffalo

Short answers with the numbers for Buffalo and all of Erie County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Buffalo?

The typical home value in Buffalo is $164,200, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Erie County it is $233,800.

How much does it cost to rent in Buffalo?

Typical rent in Buffalo is $1,046 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Erie County is $1,423.

What is the FHA loan limit in Buffalo?

Buffalo uses the FHA limit for all of Erie County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Buffalo?

The typical homeowner in Buffalo pays $1,622 a year, according to the U.S. Census Bureau. That is 0.99% of the home’s value; in Erie County, the rate is 1.98%.

Where can I find free help to buy or rent in Buffalo?

There are 5 HUD-approved counseling agencies with an office in Erie County. 2 say they serve in Spanish. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).