BUFFALO, N.Y. — A Buffalo-area household must earn more than $55,000 a year for the rental market to be affordable, according to a rental index co-produced by three universities.
Since May, the latest Waller Weeks and Johnson rental index stated that Buffalo’s average rent was $1,375.37 a month, a nearly 6% increase from the year before.
But Buffalo, which has made multiple national rankings for its hot rental market, is still relatively affordable, based on the numbers. The area’s real estate conditions also currently favor renting over buying a home.
Read more from our partners at Buffalo Business First.
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