Rent vs Buy Calculator — Buffalo, NY
Prefilled with Buffalo estimates: a ~$230,000 home (about $46,000 for 20% down) versus ~$1,250/mo rent. New York's effective property tax of 1.4% — near the U.S. average (~1.1%) — adds roughly $3,220/yr, and typical homeowners insurance runs about $1,800/yr. Adjust every field to your actual home below.
Is it better to rent or buy in Buffalo?
There's no universal answer — it hinges on how long you'll stay, what you'd earn investing the down payment instead, and New York's tax and insurance costs. Property tax is the biggest local lever: at 1.4% on a $230,000 home that's about $3,220 every year, before insurance and maintenance. Use the break-even readout above to see the year buying pulls ahead, and the appreciation rate that flips the decision.
What makes Buffalo, NY different
- Median home price estimate: $230,000
- Typical monthly rent estimate: $1,250
- New York effective property tax: 1.4% (~$3,220/yr here)
- New York avg. homeowners insurance: $1,800/yr
Starting estimates as of 2026-01 — see the methodology & sources.