Market Analysis
Buffalo Rental Market
Rental investment market data and analysis · Updated November 2026
Median Home Price
$259,500
Average Monthly Rent
$1,466
Estimated Cap Rate
6.8%
Rent-to-Price Ratio
0.6%
Below 1% Rule
Rent ÷ price by zip code
0 of 4 clear the 1% rule · November 2026
| Zip | Median price | Median rent | Rent ÷ price |
|---|---|---|---|
| 14211 | $145,000 | $1,300 | 0.90% |
| 14214 | $249,000 | $1,600 | 0.64% |
| 14209 | $270,000 | $1,385 | 0.51% |
| 14222 | $564,999 | $1,580 | 0.28% |
Context · FRED home price index
Market Trends
Buffalo metro area — % change since 2018
Home Prices
+93.0%
Rent Index
+36.2%
Average Rent by Bedroom
| Bedrooms | Avg Rent |
|---|---|
| Condo | $1,350/mo |
| Apartment | $1,421/mo |
| Multi-Family | $1,450/mo |
| Single Family | $1,988/mo |
| Townhouse | $2,000/mo |
Sample Investment Analysis
Based on median price + average rent, 20% down, 6.8% rate, 30yr
Purchase Price$259,500
Down Payment (20%)$51,900
Monthly P&I$1,353
Monthly Rent$1,466
Est. NOI$10,555/yr
Est. Cash Flow-$474/mo
Cash on Cash-10.0%
The Buffalo market is cash-flow negative at median prices. Look for properties 15-20% below median or with value-add potential.
What Investors Should Know About Buffalo
- 1Moderate cap rates suggest balanced cash flow and appreciation
- 21% Rule fails at median prices — need rent of $2,595/mo to pass
- 3Below-average rents keep entry costs low for new investors
Ready to analyze a property in Buffalo?
Get instant cap rate, cash flow, and DSCR analysis on any address. Access data on 140M+ properties.