Real Estate Investing in Buffalo, New York (14223)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 14223 (Buffalo, NY)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
What’s happening in Buffalo, NY (14223)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 14223 Buffalo
Not every below-median market is a bargain. Buffalo's 14223 ZIP reports signals that favor experienced operators who can absorb the risk $274K pricing implies.
For an experienced owner, 14223 can be a a strong candidate for hunting ground — but the discount at $274K reflects genuine risk that outside investors often underestimate.
Statewide comparisons place 14223 among NY's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Resident income in 14223 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Strategy in 14223 is an operator game, not a passive one. On the rental side, entry prices of $274K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Buffalo:
Property Strategy for 14223
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $219,331 | $1,270 | 4.2% | +9.1% | $109,666 |
| 3BR | $256,980 | $1,550 | 4.3% | +8.5% | $85,660 |
| 4BR | $290,517 | $1,770 | 4.4% | +8.2% | $72,629 |
| 5BR | $307,917 | — | — | +7.8% | $61,583 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 14223 Compare?
| Metric | 14223 | Buffalo | Buffalo-Cheektowaga, NY | New York |
|---|---|---|---|---|
| Home Value | $274,164 | $237,084 | N/A | $505,608 |
| 5-Year CAGR | 6.4% | 5.8% | N/A | 6.6% |
| Avg Rent | $1,345 | $1,433 | N/A | - |
| Cap Rate | 3.8% | 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 14223 (Buffalo, NY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $274,164 |
| Monthly Rent | $1,345 |
| Price-to-Rent | 17.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.9% |
| Cap Rate | 3.8% |
| 5-Year IRR | 10.2% |
📈 Home Appreciation
| 1-Year | +6.4% ▲ |
| 3-Year CAGR | +5.5% ▲ |
| 5-Year CAGR | +6.4% ▲ |
| 10-Year CAGR | +7.8% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.8%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 14223
Population: 22,363
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 14223
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
AMHERST MIDDLE SCHOOL
BURGARD HIGH SCHOOL
DR GEORGE BLACKMAN ECC
DR LYDIA T WRIGHT SCH OF EXCELLENCE
LEWIS J BENNETT HIGH SCHOOL OF INNOVATIVE TECHNOLGY
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 1,551 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How much does a house cost in Buffalo, NY?
In Buffalo, NY the median home value sits at $274K. Against the broader NY market, that reads as reasonable for most investors.
Is it easy to find good tenants in Buffalo, NY?
Tenant demand in Buffalo, NY is solid. The local workforce $1,345/mo rents across most rental classes.
What type of investing works in Buffalo, NY?
A careful cash-flow rentals with hands-on management strategy Buffalo, NY best. The market produces measured results for that approach at the $274K price point.
Does house hacking make sense in Buffalo, NY?
House hacking in Buffalo, NY is reasonable to execute. Prices around $274K and rents of $1,345/mo solid owner-occupant economics.
Is Buffalo, NY a friendly market for rental owners?
For rental operators, Buffalo, NY rates as tenant-protective. The regulatory environment standard buy-and-hold operations.
You know 14223 now. You don’t know where it ranks.
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How 14223 ranks in Buffalo-Cheektowaga, NY
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