Cost of Living in Buffalo, New York
In Buffalo, the median household income is $50,041 and the median gross rent is $1,046/mo, with a median home value of $164,200. Source: Census Bureau ACS, 2020-2024 estimates.
- Median household income
- $50,041
- Median gross rent
- $1,046/mo
- Median home value
- $164,200
- Population
- 276,854
How Buffalo compares to the New York average
| Measure | Buffalo, NY | New York statewide | Difference |
|---|---|---|---|
| Median household income | $50,041 | $85,974 | -41.8% |
| Median gross rent (monthly) | $1,046 | $1,621 | -35.5% |
| Median home value | $164,200 | $423,800 | -61.3% |
Statewide, New York prices average 107.9 on the BEA Regional Price Parity index (2024), where the U.S. average is 100.
Housing affordability in Buffalo
- Salary needed for median rent
- $41,840
- Rent burden at median income
- 25.1%
- Est. affordable home price
- $182,546
So that $1,046/mo is 30% of gross income
Share of the median household income spent on median rent (30%+ = cost-burdened)
At median income, 6.67% 30-yr rate (FRED, 2026-08), 20% down, 28% front-end DTI
The median home value in Buffalo is $164,200 — within what the median household income supports under these assumptions.
Estimates from documented formulas — see methodology. Not financial advice.
Cost of living in other New York cities
About this data
- American Community Survey 5-Year Estimates — data period 2020-2024, retrieved August 13, 2026.
- Regional Price Parities — data period 2024, retrieved August 13, 2026.
- Federal Reserve Economic Data — data period 2026-08, retrieved August 13, 2026.
Figures are shown exactly as published by the source or derived by the documented formulas on our methodology page. Where a source suppresses an estimate, we show “—” rather than a substitute value.