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Buffalo, New York

Know what your Buffalo home is really worth

Elmwood Village charm and Allentown arts energy underpin a $659.5K median sale price in Buffalo, with 36 active listings in a Western New York market experiencing its fastest appreciation in a generation.

Buffalo market snapshot

Median Sale Price
$660K
Median Days on Market
28 days
Active Listings
36

RentCast market data · Erie County County, New York

About Buffalo, New York

Buffalo is a city in the U.S. state of New York. It lies in Western New York on the eastern shore of Lake Erie and at the head of the Niagara River on the Canada–United States border. It is the second-most populous city in New York, with a population of 278,349 at the 2020 census. The Buffalo–Niagara Falls metropolitan area, with over 1.16 million residents, is the 2nd-largest metropolitan area in New York State behind only the NYC Metro, and the 51st-largest metropolitan area in the United States. Buffalo is the county seat of Erie County.

Before the 17th century, the region was inhabited by nomadic Paleo-Indians who were succeeded by the Neutral, Erie, and Iroquois nations. In the early 17th century, the French began to explore the region. In the 18th century, Iroquois land surrounding Buffalo Creek was ceded through the Holland Land Purchase, and a small village was established at its headwaters. Buffalo was selected as the terminus of the Erie Canal in 1825, which led to its incorporation in 1832 and stimulated its growth as the primary inland port between the Great Lakes and Atlantic Ocean. Transshipment made Buffalo the world's largest grain port in that era. After the coming of railroads greatly reduced the canal's importance, the city became the second-largest railway hub (after Chicago), and the city came to be dominated by steel production by the 20th century. Later, deindustrialization and the opening of the St. Lawrence Seaway saw the city's economy decline and diversify. It developed its service industries, such as health care, retail, tourism, logistics, and education, while retaining some manufacturing.

In 2019, the gross domestic product of the Buffalo–Niagara Falls metropolitan area was $53 billion (~$64 billion in 2024). The city's cultural landmarks include the oldest urban parks system in the United States, the Buffalo AKG Art Museum, the Buffalo History Museum, the Buffalo Philharmonic Orchestra, Shea's Performing Arts Center, the Buffalo Museum of Science, and several annual festivals. Its educational institutions include the University at Buffalo, Buffalo State University, Canisius University, and D'Youville University. Buffalo is also known for its winter weather, Buffalo wings, and two major-league sports teams: the National Football League's Buffalo Bills and the National Hockey League's Buffalo Sabres.

Buffalo by the numbers

Population 276,397 · Median age 34.3 yrs · Census ACS 2023

Median household income

Buffalo's median household income of $48,050 compares to $84,578 statewide and $78,538 nationally, per Census ACS 2023 5-year estimates.

Median age (years)

The median age in Buffalo is 34.3 yrs, compared to 39.6 yrs for New York and 38.7 yrs nationally.

Gender split

Buffalo is 47.8% male and 52.2% female, per Census ACS estimates.

Population trend — Buffalo

Buffalo's population grew 7.8% from 2019 to 2023, per Census ACS 5-year estimates.

Source: U.S. Census Bureau, American Community Survey 2023 5-year estimates.

Buffalo economy

The Erie Canal was the impetus for Buffalo's economic growth as a transshipment hub for grain and other agricultural products headed east from the Midwest. Later, manufacturing of steel and automotive parts became central to the city's economy. When these industries downsized in the region, Buffalo's economy became service-based. Its primary sectors include health care, business services (banking, accounting, and insurance), retail, tourism and logistics, especially with Canada. Despite the loss of large-scale manufacturing, some manufacturing of metals, chemicals, machinery, food products, and electronics remains in the region. Advanced manufacturing has increased, with an emphasis on research and development (R&D) and automation. In 2019, the U.S. Bureau of Economic Analysis valued the gross domestic product (GDP) of the Buffalo–Niagara Falls MSA at $53 billion (~$64 billion in 2024). The civic sector is a major source of employment in the Buffalo area, and includes public, non-profit, healthcare and educational institutions. New York State, with over 19,000 employees, is the region's largest employer. In the private sector, top employers include the Kaleida Health and Catholic Health hospital networks and M&T Bank, the sole Fortune 500 company headquartered in the city. Most have been the top employers in the region for several decades. Buffalo is home to the headquarters of Rich Products, Delaware North and New Era Cap Company; the aerospace manufacturer Moog Inc. and toy…

Source: Wikipedia article on Buffalo under CC BY-SA 4.0.

Climate in Buffalo

Monthly climate — Buffalo

Source: NOAA Climate Data Online, 1991–2020 climate normals, station GHCND:USC00300220.

Average annual rainfall: 0.4 inches across 0 days per year.

Buffalo real estate — frequently asked questions

What is the median home price in Buffalo?
The median home sale price in Buffalo, NY is $659,500, based on the most recent available sales data.
How long do homes stay on the market in Buffalo?
Homes in Buffalo sell in a median of 28 days.
What is the cost of living like in Buffalo?
Buffalo has a median household income of $48,050, per U.S. Census Bureau ACS estimates.
Who lives in Buffalo?
Buffalo has a population of 276,397 with a median age of 34.3 years, per U.S. Census Bureau ACS estimates.
How do I sell my home in Buffalo?
Start with a free, no-obligation home value estimate. Enter your address above and we'll connect you with a licensed local real-estate professional familiar with the Buffalo market within 24 hours.

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ForSaleAmerica.com is an online marketplace and is not a real estate brokerage in New York. Property valuations shown are automated estimates based on public data and are not appraisals, comparative market analyses, or guarantees of sale price. We connect homeowners with top local agents and partners — we do not represent buyers or sellers.