How Much Money Do You Need To Afford The Average Buffalo House?

As winter gets ready to come to a close, people all over the nation are getting ready to get into what is poised to be one of the toughest housing markets we've had in a while. That rings true all over Americ and right here in the 716 as Buffalo and Western New York are looking like its going to once again be the top market in the nation.

According to data that was collected and compiled by Zillow, who routinely keeps track of the home sales market in cities around the United States, Buffalo is once again the top housing market in America. The 716 has beat out all sorts of cities in the Untied States, surpassing cities like St. Louis, Charlotte, Philadelphia, and several others.

Even though the economy is still dealing with rapid inflation, and perhaps even a potential recession, the market here continues to soar.

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According to data available from the Buffalo-Niagara Association of REALTORS, the average home price in Western New York is inching closer to $300,000. That price, which was $$274,805 in January 2025. While this is lower than it was in November of last year, that number is still astronomically high for what we're used to in Western New York.

Using current banking norms, in order to afford a home that costs $275,000, your gross monthly income would need to hover around $7,000 per month or approximately $90,000 per year. Achieving that number might be tough for the average Buffalonian as, according to the US Census Bureau, the median household income in Buffalo is only just over $48,000 per year.

With Buffalo routinely ranking as one of the poorest cities in America, with more than 27% of the population living below the Federal Poverty Level, owning a home is becoming more out of reach for the average person in the 716.

Is buying a house on your agenda for this year? If so, there are plenty of great houses available in Western New York.