How much house can you afford in Buffalo? With a median price of $260,000 and a typical effective property tax rate of 2.6%, here are the real numbers a typical buyer faces in Erie County — plus a calculator for your exact case.
| Median home price | $260,000 |
| Down payment (20%) | $52,000 |
| Loan amount | $208,000 |
| Principal & interest / mo | $1,315 |
| Property tax / mo (2.6%) | $563 |
| Insurance / mo | $150 |
| Total monthly payment | $2,028 |
| Annual income needed (28% rule) | $86,916 |
Buffalo is one of the most affordable major metros in the Northeast — the same income that rents in NYC can own here, though tax rates are high relative to price.
Different income, debts, down payment or rate — the calculator adjusts instantly and gives you a conservative-to-aggressive range for Buffalo.
Calculate my Buffalo mortgage →The typical effective rate in Erie County is about 2.6% of home value per year. On a median $260,000 home that is roughly $6,760 per year ($563 per month).
For the median $260,000 home with 20% down, the total payment is about $2,028/mo. Under the 28% rule you need a gross income of ~$86,916 per year. With a smaller down payment or existing debts, the figure rises.
No. Erie County is outside NYC, so the city's mortgage recording tax does not apply. The 1% state mansion tax only kicks in at $1 million or more.
Indicative figures based on public data and the stated assumptions; not financial advice. Confirm rates and taxes with your lender and attorney.
