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Downtown Buffalo, Buffalo, NY—14201

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$304,000
2.4% YoY Growth
Household Income
$34,200
27.8% YoY Growth
Days on Market
63
16.0% Shorter YoY
Home Price Forecast
1.9%
Median Rent
$1,300
4.1% YoY Growth
1-Bed Rent
$1,250
4.1% YoY Growth
2-Bed Rent
$1,650
13.5% YoY Growth
3-Bed Rent
$1,600
7.5% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Downtown Buffalo, Buffalo, NY

As of Dec '25, the median home price in Downtown Buffalo, Buffalo, NY is $304,000, with a year-over-year change of 2.4%. This indicates that home prices in Downtown Buffalo, Buffalo, NY are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$304,0002.4%
Single Family $311,0003.7%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$259,000-0.4%
    3 Bed
    		$315,0002.6%
    4 Bed
    		$365,0006.1%
    5 Bed N/AN/A
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    % of Housing Stock

    Studio
    11.2%
    1 Bedroom
    24.6%
    2 Bedrooms
    35.8%
    3 Bedrooms
    19.1%
    4 Bedrooms
    6.4%
    5+ Bedrooms
    2.9%

    Rental Trends — Downtown Buffalo, Buffalo, NY

    As of July '25, Rentcast reports the average rent in Downtown Buffalo, Buffalo, NY is $1,420, with a year-over-year rent change of -4.1%. Per bedroom, the median rent as of July '25 in Downtown Buffalo, Buffalo, NY is studios: $932, 1-bedrooms: $1,270, 2-bedrooms: $1,770, 3-bedrooms: $1,720, 4-bedrooms: $3,200. The most common rental property sizes in Downtown Buffalo, Buffalo, NY are 2-bedroom and 1-bedroom, accounting for 33.5% and 31.7% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,300$1,420
    Studio Rent $875$932
    1 Bed Rent $1,250$1,270
    2 Bed Rent $1,650$1,770
    3 Bed Rent $1,600$1,720
    4 Bed Rent $3,200$3,200
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    % of Rental Stock

    Studio
    9.9%
    1 Bedroom
    31.7%
    2 Bedrooms
    33.5%
    3 Bedrooms
    17.5%
    4 Bedrooms
    5.3%
    5+ Bedrooms
    2.0%

    Property Listings — Downtown Buffalo, Buffalo, NY

    As of Dec '25, Realtor.com reports that the median days on market for a home in Downtown Buffalo, Buffalo, NY is 54. This is a decrease of -13.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 17.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$324,00078.0%
    Listing Count
    		1746.0%
    Listings as % of Homes0.1%46.0%
    Days on Market
    		63-16.0%
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    Demographics — Downtown Buffalo, Buffalo, NY

    As of the latest ACS Survey released in 2023, Downtown Buffalo, Buffalo, NY has a population of 12,500, which has increased by 7.4% over the past 5 years. Downtown Buffalo, Buffalo, NY is a moderately popular place for families, as children make up 20.9% of the population. The area has a moderately educated workforce, with 39.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.8% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		12,5007.4%
    % Under 18
    		20.9%-11.8%
    % Seniors
    		12.5%14.7%
    % WFH
    		9.8%512.5%
    % w/ College Degree
    		39.2%27.7%
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    As of the latest ACS Survey released in 2023, Downtown Buffalo, Buffalo, NY is a predominantly white area, with 42.2% of the population identifying as white. The white population has grown by 12.2% in the last 5 years. The second most common race or ethnicity in Downtown Buffalo, Buffalo, NY is hispanic, making up 36.4% of the population. Foreign-born residents account for 7.6% of the population in Downtown Buffalo, Buffalo, NY, and this percentage has decreased by 32.1% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		42.2%12.2%
    % Black
    		17.2%-18.5%
    % Hispanic
    		36.4%-0.5%
    % Asian
    		1.6%-38.5%
    % Foreign Born
    		7.6%-32.1%
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    Mortgage and Risk — Downtown Buffalo, Buffalo, NY

    According to HUD data as of 2023, there were 70 mortgage originations in Downtown Buffalo, Buffalo, NY, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Downtown Buffalo, Buffalo, NY. Investor activity is low, as 9.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		70
    % Conventional Loans
    		90.0%
    % Government Loans
    		10.0%
    % Investor Loans
    		9.0%
    % Second Loans
    		0.0%
    % Cash Out Refinance
    		7.0%
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    Rentals and Section 8 — Downtown Buffalo, Buffalo, NY

    As of 2024, the percent of homes in Downtown Buffalo, Buffalo, NY under the Section 8 program is 22.6%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Downtown Buffalo, Buffalo, NY, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.

    Section 8 Market Size

    Total Units under HUD
    		1,565
    Total Units Section 8
    		1,146
    % Rentals under Section 8
    		22.6%
    % Occupied Section 8
    		82.0%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom-$250$1,250$1,000
    2 Bedroom-$470$1,650$1,180
    3 Bedroom-$160$1,600$1,440
    4 Bedroom-$1,570$3,200$1,630

    Affordability — Downtown Buffalo, Buffalo, NY

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio8.5
    Median Home Price$304,000
    Median Household Income$34,200

    Downtown Buffalo, Buffalo, NY — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Downtown, Buffalo, NY

    14202

    South Buffalo, Buffalo, NY

    14213

    Elmwood Village, Buffalo, NY

    14222

    Delaware District, Buffalo, NY

    14209

    Hydraulics, Buffalo, NY

    14204

    Frequently Asked Questions