Downtown Buffalo, Buffalo, NY—14201
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Downtown Buffalo, Buffalo, NY
As of Oct '25, the median home price in Downtown Buffalo, Buffalo, NY is $309,000, with a year-over-year change of 1.8%. This indicates that home prices in Downtown Buffalo, Buffalo, NY are increasing. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $309,000 | 1.9% |
| Single Family | $315,000 | 2.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $266,000 | -1.1% |
3 Bed | $319,000 | 1.9% |
4 Bed | $370,000 | 6.0% |
| 5 Bed | N/A | N/A |
% of Housing Stock
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.
| Type | Median Rent | Average 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 |
% of Rental Stock
Property Listings — Downtown Buffalo, Buffalo, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Downtown Buffalo, Buffalo, NY is 38. This is a decrease of -10.0% 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 23.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $339,000 | 58.0% |
Listing Count | 26 | 60.0% |
| Listings as % of Homes | 0.1% | 60.0% |
Days on Market | 38 | -10.0% |
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.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 12,500 | 7.4% |
% Under 18 | 20.9% | -11.8% |
% Seniors | 12.5% | 14.7% |
% WFH | 9.8% | 512.5% |
% w/ College Degree | 39.2% | 27.7% |
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
| Metric | Latest Census | 5-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% |
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
| Metric | Zip 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% |
Loan Activity
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 Size | HUD Premium | Market Rent | Max 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
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 8.6 |
| Median Home Price | $309,000 |
| Median Household Income | $34,200 |