Median Home PriceBETTER
$282,437
Median RentBETTER
$1,371.25/mo
Price-to-Rent RatioBETTER
17.2
Property Tax RateTIE
1.72%
Price Change (1Y)BETTER
+3.5%
Price Change (5Y)BETTER
+17.3%
Break-Even YearsTIE
N/A
10-Year Wealth DifferenceBETTER
$143,876
Median Home Price
$1,182,635.83
Median Rent
$4,367.24/mo
Price-to-Rent Ratio
22.6
Property Tax RateTIE
1.72%
Price Change (1Y)
+1.4%
Price Change (5Y)
+7.2%
Break-Even YearsTIE
N/A
10-Year Wealth Difference
$967,229
Key Differences
Home Prices
Buffalo's median home price of $282,437 is lower than New York's $1,182,635.83 by 76%.
Monthly Rent
Renting in Buffalo costs $1,371.25/mo compared to $4,367.24/mo in New York—a difference of $2,995.99/mo.
Buy vs Rent Verdict
Both cities currently favor renting.
Break-Even Timeline
Break-even analysis varies based on market conditions in each city.