According to statistics, the population in Buffalo, NY amounts to 256,322, which shows decline -1% compared to the previous year. The median age of the city’s residents is 33. The average household income is $37,359, shifting growth 7% from the past year, and the average property value in Buffalo, NY growth 6% to $98,300 throughout the year.
|Number Of Employees||114,478|
|Median Property Value||$98,300|
The average household income in Buffalo, NY grew from $34,814 to $37,359 in the past year. This data is an estimate based upon 109,446 households in Buffalo, NY . The chart below presents how household income is distributed in Buffalo, NY in comparison to the revenue allocation amid households nationally.
According to data from last year, the average property value in Buffalo, NY shifted from $92,700 to $98,300 throughout the year. The subsequent graph indicates the share of properties in the given price range in Buffalo, NY in comparison to the median property value in the same price segment across the country. According to the data, the greatest share of Buffalo, NY properties falls in the '$100,000 to $124,999' range, which is lower than the most significant median property across the country.
One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Buffalo, NY compared to median property taxes around the country. The prevalent amount of property taxes in Buffalo, NY equals $800, which is less than the national average.
|May||vs Last Month|
|4+ bed apartments||$270,557||+4.3%|
During May 2023, the average price for an apartment in/near Buffalo, NY decreased by 3.5% to $243,953.
Knowing the current property prices is key if you plan to buy a studio in Buffalo, NY. The average price for a studio has decreased since the last month, currently being $75,177. After collecting all data points, we now see that the average price for 1-bed apartment decreased by 40.9% to $193,740. Asking price for 2-bed apartment also decreased by 2.7% and a place of this size will now cost you $241,691. A 3-bed apartment goes for $221,655, it decreased by 9.8% lately. We discerned the rise of 4- and more bed apartment price. It increased by 4.3% and made it up to $270,557.
|May||vs Last Month|
|Houses for sale||$239,925||-5.6%|
|Condos for sale||$328,911||-1.5%|
|Apartments for sale||$75,177||+21%|
The average cost of an apartment in Buffalo, NY rised by 21% to $75,177. Price reports demonstrate that house price decreased by 5.6% this month making it up to $239,925. Condos faced an upward trend these days. The median price for a condo decreased by 1.5%, it’s now available for $328,911.