There are currently 89,595 real estate properties in Buffalo, NY, with a median automated valuation model (AVM) price of $182,300.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Buffalo, NY, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Buffalo, NY, is $215,801.00, with the most expensive house in Buffalo, NY, topping out at $33,066,700.00 and the cheapest home in Buffalo, NY, clocking in at $10,900.00. In other words, there’s something for every potential homebuyer or savvy investor in Buffalo, NY!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Buffalo, NY, is on a rollercoaster ride. The average rent price in Buffalo, NY, is $1,265.00. Indeed, when looking to rent in Buffalo, NY, you can expect to pay as little as $500.00 or as much as $6,930.00, with the average rent median estimated to be $1,220.00. The good news is that finding an affordable and desirable property to rent in Buffalo, NY -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Buffalo, NY area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Buffalo, NY and much more. Save thousands at closing with home foreclosure listings in Buffalo, NY — up to 75% off market value!
Buffalo is located in Erie, New York, with an estimated municipal population of 255,284 residents. All of the best foreclosed homes for sale in Buffalo are located in the following zip code areas on Foreclosure.com: 14208 14209 14202 14203 14201 14206 14207 14204 14220 14222 14218 14211 14210 14213 14212 14215 14214 14216 14205 14233 14240 14263 14264 14267 14269 14270 14272 14273 14276 14280. The estimated population per square kilometer (.62 miles) in Buffalo is 2,441.
So, about how much do homes cost in Buffalo? The most recent median value of resident-owned homes in Buffalo is 94,145. An estimated 40.7 percent of households in Buffalo own their homes, with an average family size of 3.07. The median household income in Buffalo is 37,354, with14.5 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Buffalo, the median commute time of resident workers (in minutes) is 21. And last, but certainly not least, are you looking for homes to rent in Buffalo? If so, the average rent price paid by renters in Buffalo is 776, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Buffalo, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Buffalo is 33.1, split between 47.7 percent male versus 52.3 female. The percentage of residents who report being married in Buffalo is 29.1, with an average family size of 3.07.
The percentage of residents who report their race in Buffalo is as follows:
|Black / African American||36.5%|
|American Indian / Alaskan Native||0.5%|
|Native Hawaiian / Other Pacifc Islander||0%|
Looking for family-friendly neighborhoods in and/or near Buffalo? Or maybe you are searching for 55+ active adult communities in and/or near Buffalo?
The percentage of residents who report their age in Buffalo is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Buffalo with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Buffalo.
How do you know that living in -- or moving to -- Buffalo is right where you need to be? Perhaps you grew up in Buffalo or already live nearby; therefore, the decision to buy a home in Buffalo is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Buffalo for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Buffalo:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Buffalo.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Buffalo can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Buffalo, meanwhile, can field multiple offers from more qualified buyers.
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