Cost of Living in Buffalo, New York

Buffalo has a population of about 276,854. The median household income is $50,041, median gross rent is $1,046/month, and the median home value is $164,200. Below is how Buffalo compares to the US.

Median Gross Rent $1,046/mo 37% below the national median

Median Home Value $164,200 56% below the national median

Median Household Income $50,041 40% below the national median

Population 276,854

Is Buffalo expensive to live in?

Compared with the national median, rent in Buffalo is 37% below the national median and home values are 56% below the national median. Household income here is 40% below the national median. Monthly rent represents roughly 25% of the median annual household income, a rough affordability signal for renters.

Frequently asked questions

What is the average rent in Buffalo?

The median gross rent in Buffalo, New York is $1,046 per month (US Census ACS).

What is the median home price in Buffalo?

The median home value in Buffalo is $164,200.

How much do people earn in Buffalo?

The median household income in Buffalo is $50,041 per year.

Data source: U.S. Census Bureau, 2024 American Community Survey (ACS) 5-Year Estimates. Last updated 2026-07-11.