Real Estate Investing in Buffalo, New York (14204)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 14204 (Buffalo, NY)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A balanced market — moderate cash flow and moderate appreciation. A "steady" investor profile fits best.
- High vacancy: 22.6% of homes vacant — above national norms.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- Elevated poverty: 24.9% poverty rate — can affect rent collection.
- Lower household income: $26,762 median — tenant affordability is tighter.
What’s happening in Buffalo, NY (14204)?
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Market Analysis: 14204 Buffalo
ZIP 14204 inside Buffalo, NY plays the steady-hand role. Median home values reflects $185K, rents near $2,048/mo, and the trend line is consistent rather than flashy.
A 0.0% cap rate, 0.0% annual growth, and $185K entry point describe a market that earns its returns slowly and steadily.
From a cash-flow lens, NY contains both high-growth and high-yield outliers, 14204 sits in the middle — $185K pricing, 0.0% yield, and 0.0% growth all close to regional norms.
Household composition in 14204 has evolved slowly rather than dramatically, which is exactly what stable markets look like under the hood.
Long-term rentals, modest house hacks, and passive investments all fit 14204. The ZIP rewards patience and discipline more than creativity.
Here's what matters if you're considering buying a home in Buffalo:
Property Strategy for 14204
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $121,880 | $1,140 | 6.7% | +4.1% | $60,940 |
| 3BR | $212,496 | $1,390 | 4.7% | +8.5% | $70,832 |
| 4BR | $137,063 | $1,590 | 8.4% | +4.7% | $34,266 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 14204 Compare?
| Metric | 14204 | Buffalo | Buffalo-Cheektowaga, NY | New York |
|---|---|---|---|---|
| Home Value | $184,707 | $237,084 | N/A | $505,608 |
| 5-Year CAGR | 5.0% | 5.8% | N/A | 6.6% |
| Avg Rent | $2,048 | $1,433 | N/A | - |
| Cap Rate | 8.7% | 4.7% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 14204 (Buffalo, NY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $184,707 |
| Monthly Rent | $2,048 |
| Price-to-Rent | 7.5:1 |
| 1% Rule | ✓ Passes |
💰 Return Metrics
| Gross Yield | 13.3% |
| Cap Rate | 8.7% |
| 5-Year IRR | 13.7% |
📈 Home Appreciation
| 1-Year | +2.0% ▲ |
| 3-Year CAGR | +3.7% ▲ |
| 5-Year CAGR | +5.0% ▲ |
| 10-Year CAGR | +7.6% ▲ |
🏠 Rent Trends
| 1-Year | +17.0% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The estimated cap rate (8.7%) exceeds the current 30-yr mortgage rate (6.8%). When borrowing costs less than a property yields, leverage can increase your cash-on-cash return above the cap rate.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 14204
Population: 7,748
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 14204
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
BILINGUAL CENTER
BUFFALO ACADEMY FOR THE VISUAL & PERFORMING ARTS
BUFFALO SCHOOL OF CULINARY ARTS AND HOSPITALITY MANAGEMENT
BUILD COMMUNITY SCHOOL
COMMUNITY SCHOOL #53
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 3,856 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is real estate in Buffalo, NY a good investment right now?
Buffalo, NY reflects an investability rating of 5.0/5, with median home values near $185K and average rents around $2,048/mo. That combination puts it in the significant tier for investor interest.
Is Buffalo, NY a friendly market for rental owners?
Landlord-friendliness in Buffalo, NY is tenant-protective. Eviction timelines and lease enforcement are considered reasonable by most property managers.
Can owner-occupants cash flow in Buffalo, NY?
For house hackers, Buffalo, NY is an attractive. The $2,048/mo rent on a unit helps defray the mortgage on a $185K property.
What approach is best for Buffalo, NY real estate?
Most investors in Buffalo, NY run a steady buy-and-hold investing strategy. It aligns with the 5.0/5 investability profile and the market fundamentals.
What are rental rates like in Buffalo, NY?
Rent in Buffalo, NY is around $2,048/mo. The resulting rent-to-value relationship with $185K pricing is reasonable for most investor models.
You know 14204 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 14204 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 14204 ranks in Buffalo-Cheektowaga, NY
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