Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$287,359+3.6% YoY · prices are rising fast
Market right nowBalanced marketMore homes for sale than last year, 13% have cut their price
Income needed to buy, per year$62,293About 0.9× the local median income ($72,549): affordable for a typical household
Days on market43 daysAbout the same pace as a year ago
Next 12 months+2.6%Zillow expects prices to rise slightly
The typical home in Buffalo-Cheektowaga, NY is worth $287,359, up 3.6% from a year ago. That is well above what local incomes have historically supported: fair value is about $232,211, so the area is 23.7% overvalued. It is a balanced market: homes take about 43 days to sell, listings are up 34% from a year ago, 13% of listings have had a price cut. Zillow expects prices to rise about 2.6% over the next year. A household needs about $62,293 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $72,549. Typical rent is $1,451 a month, or $1,913 for a house. In the latest IRS figures, 3,504 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$287,359
Change in 1 year
+3.6%
Overvalued %
+23.7%
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Fair home value
$232,211
Change in 5 years
+31.9%
Zillow forecast, next 12 months
+2.6%
Home value to income
4.0×
Monthly mortgage payment (20% down)
$1,557
Income needed to afford it
$62,293
Property tax rate
2.00%
Rent and investing
Typical rent
$1,451
Typical rent for houses
$1,913
Price-to-rent ratio
16.5×
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HUD Fair Market Rent, 2 bedrooms
$1,423
Gross rental yield
6.06%
Cap rate (estimate)
3.94%
Market activity
Listings vs a year ago
+34.4%
Days on market
43
Listings with a price cut
13.0%
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Homes for sale
1,983
Pending sales per 100 listings
106
Asking price per sq ft
$184
People and jobs
Median household income
$72,549
Population change (1 year)
−0.1%
Unemployment rate
5.1%
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Population
1,155,653
Income adjusted for cost of living
$75,730
Net moves in (IRS)
−3,504
Cost of living (US = 100)
95.8
Schools, risk and environment
School rating (1 to 10)
5.1
FEMA hazard risk score (0 to 100)
95.1
Unhealthy air days a year
9
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Flood risk score
97.6
Wildfire risk score
57.4
Walkability (1 to 20)
10.6
Road, rail and air noise
53 dB
Questions people ask
Is Buffalo-Cheektowaga, NY overvalued?
Home prices in Buffalo-Cheektowaga, NY are well above what local incomes have historically supported: fair value is about $232,211, so the area is 23.7% overvalued.
Is Buffalo-Cheektowaga, NY a buyer's or seller's market?
Buffalo-Cheektowaga, NY is a balanced market: homes take about 43 days to sell, listings are up 34% from a year ago, 13% of listings have had a price cut.
Are home prices going down in Buffalo-Cheektowaga, NY?
Home values in Buffalo-Cheektowaga, NY are up 3.6% over the last year. Zillow's forecast for the next 12 months is +2.6%.
How much do you need to earn to buy a home in Buffalo-Cheektowaga, NY?
A household needs about $62,293 a year to afford the typical home in Buffalo-Cheektowaga, NY at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $72,549.