Buffalo, MN 55313 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Buffalo, MN—55313

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$370,000

3.0% YoY Growth

Household Income

$93,500

19.1% YoY Growth

Days on Market

25.0% Longer YoY

Home Price Forecast

-0.1%

Median Rent

$1,800

8.6% YoY Growth

1-Bed Rent

$1,180

2.8% YoY Growth

2-Bed Rent

$1,100

29.9% YoY Growth

3-Bed Rent

$1,850

1.1% YoY Growth

Home Price Trends — Buffalo, MN

As of Dec '25, the median home price in Buffalo, MN is $370,000, with a year-over-year change of 3.0%. This indicates that home prices in Buffalo, MN are increasing. According to Zillow, the 1-year price projection is -0.1%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$370,000	3.0%
Single Family	$371,000	2.8%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Buffalo, MN

As of July '25, Rentcast reports the average rent in Buffalo, MN is $1,770, with a year-over-year rent change of 8.6%. Per bedroom, the median rent as of July '25 in Buffalo, MN is 1-bedrooms: $1,100, 2-bedrooms: $1,170, 3-bedrooms: $1,900, 4-bedrooms: $2,380. The most common rental property sizes in Buffalo, MN are 2-bedroom and 1-bedroom, accounting for 48.8% and 24.7% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,800	$1,770
Studio Rent	N/A	N/A
1 Bed Rent	$1,180	$1,100
2 Bed Rent	$1,100	$1,170
3 Bed Rent	$1,850	$1,900
4 Bed Rent	$2,450	$2,380

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% of Rental Stock

Studio

2.6%

1 Bedroom

24.7%

2 Bedrooms

48.8%

3 Bedrooms

16.1%

4 Bedrooms

7.3%

5+ Bedrooms

0.5%

Property Listings — Buffalo, MN

As of Dec '25, Realtor.com reports that the median days on market for a home in Buffalo, MN is 49. This is a increase of 5.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 31.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$389,000	-4.0%
Listing Count	70	19.0%
Listings as % of Homes	0.8%	19.0%
Days on Market	60	25.0%

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Demographics — Buffalo, MN

As of the latest ACS Survey released in 2023, Buffalo, MN has a population of 24,900, which has increased by 2.0% over the past 5 years. Buffalo, MN is a popular place for families, as children make up 25.7% of the population. The area has a moderately educated workforce, with 30.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.4% reporting working from home.

Metric	Latest Census	YoY % Change
Population	24,900	2.0%
% Under 18	25.7%	1.2%
% Seniors	16.9%	20.7%
% WFH	12.4%	188.4%
% w/ College Degree	30.9%	2.7%

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As of the latest ACS Survey released in 2023, Buffalo, MN is a predominantly white area, with 91.6% of the population identifying as white. The white population has shrunk by 4.5% in the last 5 years. The second most common race or ethnicity in Buffalo, MN is hispanic, making up 3.6% of the population. Foreign-born residents account for 4.1% of the population in Buffalo, MN, and this percentage has increased by 105.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	91.6%	-4.5%
% Black	0.1%	-83.3%
% Hispanic	3.6%	80.0%
% Asian	1.2%	100.0%
% Foreign Born	4.1%	105.0%

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Mortgage and Risk — Buffalo, MN

According to HUD data as of 2023, there were 440 mortgage originations in Buffalo, MN, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Buffalo, MN. Investor activity is low, as 2.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	440
% Conventional Loans	83.0%
% Government Loans	17.0%
% Investor Loans	2.0%
% Second Loans	0.0%
% Cash Out Refinance	10.0%

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Rentals and Section 8 — Buffalo, MN

As of 2024, the percent of homes in Buffalo, MN under the Section 8 program is 9.0%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Buffalo, MN, because HUD payments exceed market rent, while 4-bedroom units do not.

Section 8 Market Size

Total Units under HUD	153
Total Units Section 8	153
% Rentals under Section 8	9.0%
% Occupied Section 8	89.8%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$20	$1,180	$1,200
2 Bedroom	$370	$1,100	$1,470
3 Bedroom	$120	$1,850	$1,970
4 Bedroom	-$210	$2,450	$2,240

Buffalo, MN—55313

Key Metrics at a Glance

Home Price Trends — Buffalo, MN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Buffalo, MN

% of Rental Stock

Property Listings — Buffalo, MN

Demographics — Buffalo, MN

Race and Ethnicity

Mortgage and Risk — Buffalo, MN

Mortgages

Rentals and Section 8 — Buffalo, MN

Section 8 Market Size

Section 8 Opportunity

Affordability — Buffalo, MN

Home Price to Income Ratio

Buffalo, MN — ZIP Code Boundary Map

Nearby ZIP Codes

Monticello, MN

Montrose, MN

Delano, MN

Rockford, MN

Saint Michael, MN

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.7
Median Home Price	$370,000
Median Household Income	$93,500

Buffalo, MN—55313

Key Metrics at a Glance

Home Price Trends — Buffalo, MN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Buffalo, MN

% of Rental Stock

Property Listings — Buffalo, MN

Demographics — Buffalo, MN

Race and Ethnicity

Mortgage and Risk — Buffalo, MN

Mortgages

Rentals and Section 8 — Buffalo, MN

Section 8 Market Size

Section 8 Opportunity

Affordability — Buffalo, MN

Home Price to Income Ratio

Buffalo, MN — ZIP Code Boundary Map

Nearby ZIP Codes

Monticello, MN

Montrose, MN

Delano, MN

Rockford, MN

Saint Michael, MN

Frequently Asked Questions

What is the average home price in Buffalo, MN 55313?

How have home prices in Buffalo, MN 55313 changed over the past year?

What is the home price projection for Buffalo, MN 55313?

What are the demographics of Buffalo, MN 55313?

How long does it take homes to sell in Buffalo, MN 55313?

What is the average rent price in Buffalo, MN 55313?