Buffalo Is the 29th-Most Affordable U.S. City for Homebuyers in 2026

Buffalo, N.Y., ranks 29th in the country for the affordability of buying a home, according to a new WalletHub study that analyzed 300 U.S. cities using 10 key metrics. Those metrics range from home purchase and maintenance costs to taxes and vacancy rates.

Home prices have surged in recent years, with the median sales price in the U.S. rising from $355,000 in Q1 2021 to $403,200 in Q1 2026. The average 30-year fixed mortgage rate has also increased sharply from a historic low of 2.65% in January 2021 to 6.37% in May 2026. With both elevated home prices and higher interest rates, many consumers may question whether homeownership is still within reach. Buying real estate remains more affordable in certain cities than others, though.

“When deciding where to buy, home prices alone aren't a good enough indicator of how affordable things will be,” said WalletHub analyst Chip Lupo. “You also have to consider how prices compare to incomes in the area, plus factor in things like the cost of living, maintenance expenses and taxes.”

In-Depth Look at Buffalo

Buffalo has the eighth-highest median home price appreciation in the U.S., plus the 19th-lowest rent-to-price-ratio. That means buying a home is a better deal compared to renting than it is in most other cities.

Buffalo is less affordable in other areas, though. For example, it has the 99th-highest median real estate tax rate in the nation, so high appreciation in home prices unfortunately comes with the caveat of forking a lot of money back over to the local government. The city also has the 29th-most expensive home energy and phone service costs.

When you combine all 10 of the metrics, Buffalo ends up in 29th place overall out of the 300 cities included in WalletHub's study.

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The methodology can be found on the full version of the article on WalletHub.