Buffalo, NY Rental Market
Buffalo is a Rust Belt city in the midst of a genuine revival, anchored by the University at Buffalo (the largest SUNY campus), a growing healthcare sector, and a burgeoning arts and culture scene centered on the Elmwood Village and Allentown neighborhoods. Affordable home prices relative to rent create solid gross yields, and the market benefits from a diverse tenant base of students, healthcare workers, and young professionals drawn by comparatively low cost of living.
Get a rent estimate for an address in BuffaloAverage Rent in Buffalo, NY
$1,020
per month · 2026-06
Market Score
Key Facts — Buffalo, NY Rental Market
- Average rent in Buffalo, NY:$1,020/mo
- Median rent:$938/mo
- Rent range:$500 – $2,250/mo
- Most common rental (2 bedrooms):$900/mo
- Active listings:680
- Avg days to lease:38 days
- Year-over-year change:+2.5%
- Median home value:$175,000
- Est. gross annual yield:7.0%
- Data as of:2026-06
Rent by Bedroom in Buffalo, NY
Average monthly rent for each bedroom type based on current active listings in Buffalo.
| Bedroom Type | Avg Rent/mo |
|---|---|
1 Bedroom | $725/mo |
2 Bedrooms | $900/mo |
3 Bedrooms | $1,150/mo |
4 Bedrooms | $1,400/mo |
5 Bedrooms | $1,600/mo |
Buffalo Rental Market Statistics
Key indicators from the current Buffalo, NY rental market.
680
Available now in Buffalo
38
From list to lease
$0.82
Average across listings
1,250 sq ft
Typical rental size
$500 – $2,250
Min to max active listings
+2.5%
Avg rent vs. prior year
Investing in Buffalo, NY Rental Properties
Estimated returns based on current market rents and median home values. Perform full due diligence before investing.
Median Home Value
$175,000
Typical purchase price in Buffalo
Est. Gross Annual Yield
7.0%
Before expenses & vacancy
Avg Monthly Income
$1,020
At average market rent
Gross yield = (avg rent × 12) ÷ median home value. Does not include expenses, financing, vacancies, or management fees. Analyze a specific property in Buffalo for a full cash-flow breakdown including all costs.
Buffalo, NY Rental Market FAQ
Common questions about renting and investing in Buffalo, NY.
What is the average rent in Buffalo, NY?
The average rent in Buffalo, NY is $1,020 per month as of 2026. One-bedroom apartments average $725/mo, two-bedrooms $900/mo, and three-bedroom homes $1,150/mo. Buffalo offers some of the most affordable rents of any major city in New York State, making it accessible to a broad range of tenants.
Is Buffalo, NY a good place to invest in rental property?
Buffalo offers an estimated 7.0% gross annual yield driven by a low median home value near $175,000 and steady rental demand from University at Buffalo students, Kaleida Health and Catholic Health employees, and young professionals. The city's ongoing downtown revitalization and new investment along the waterfront support continued demand.
What drives rental demand in Buffalo, NY?
Buffalo's rental demand is anchored by the University at Buffalo (30,000+ students), two major healthcare networks (Kaleida Health and Catholic Health), and a growing creative economy. Neighborhoods like Elmwood Village, Allentown, and the Hertel Avenue corridor attract young professionals and artists who prefer renting over ownership in the city's diversifying market.
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