Rental market data · 2024 Census estimates

Buffalo, NY rental yield and cash flow

In the Buffalo-Cheektowaga, NY metro, the median owner-occupied home was valued at $253,200 and the median gross rent was $1,114 a month in 2024. That is a gross rent yield of 5.28%, rank 33 of the 100 largest metros we track.

$253,200Median home value (±$4,883)

$1,114Median gross rent / mo (±$23)

5.28%Gross rent yield

18.9Price-to-rent ratio

1.78%Median taxes ÷ median value

31%Renter-occupied homes

0.44%Monthly rent ÷ price (1% rule)

1.16MMetro population

Does the median home cash flow at today's rate?

We priced a hypothetical rental at the metro medians: $253,200 purchase, $1,114 rent, 25% down, a 30-year loan at 7.28% (Freddie Mac's 30-year average for the week of October 1, 2026), $4,508 in annual property taxes, insurance at 0.5% of price, and 5% vacancy, 10% repairs and 8% management.

At these assumptions the median-priced home runs about $923 a month short of covering its costs (DSCR 0.29). Rent would need to reach about $2,312, 108% above the median, to break even, or the price would need to be near $70,576 for a 1.25 DSCR. Net operating income is about $4,519 a year, a 1.78% cap rate, against $15,592 of annual debt service.

Investment-property loans usually price above the owner-occupant average this survey reports, and your insurance quote, tax bill and rent will differ from a metro median. Change any input below.

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How Buffalo compares

Metros with the nearest gross yields among the 100 we track. * Cash flow uses the same assumptions as above.

Rank	Metro	Median value	Median rent	Gross yield	Price-to-rent	Cash flow / mo*
30	Harrisburg, PA	$282,600	$1,254	5.32%	18.8	-$866
31	Dallas, TX	$389,500	$1,718	5.29%	18.9	-$1,306
32	Atlanta, GA	$402,100	$1,770	5.28%	18.9	-$1,139
33	Buffalo, NY	$253,200	$1,114	5.28%	18.9	-$923
34	Allentown, PA-NJ	$332,700	$1,458	5.26%	19.0	-$1,115
35	Indianapolis, IN	$291,400	$1,273	5.24%	19.1	-$837
36	Jacksonville, FL	$375,200	$1,625	5.20%	19.2	-$1,064

What these numbers leave out

Census gross rent includes utilities when the tenant pays them, so it can overstate what a landlord collects. Median value describes owner-occupied homes, not the rental stock, and a metro median hides wide neighborhood differences. Treat this page as a screen, then underwrite the specific property.

Sources

U.S. Census Bureau, 2024 American Community Survey 1-year estimates, table B25064 (median gross rent)
U.S. Census Bureau, 2024 American Community Survey 1-year estimates, table B25077 (median value, owner-occupied housing units)
U.S. Census Bureau, 2024 American Community Survey 1-year estimates, table B25103 (median real estate taxes paid)
U.S. Census Bureau, 2024 American Community Survey 1-year estimates, table B25003 (housing tenure)
U.S. Census Bureau, 2024 American Community Survey 1-year estimates, table B01003 (total population)
Freddie Mac Primary Mortgage Market Survey (30-year fixed average, week of October 1, 2026)

Data snapshot October 7, 2026. Methodology: all metros.