The Most Expensive House For Rent In Buffalo?

The housing situation in Western New York has been quite the spectacle over the last few years. Since 2021, Buffalo has been able to boast something that it hasn't done in nearly 100 years: having the hottest housing market in the nation.

You don't need to look further than how expensive housing has become in the 716. In many areas of town, housing prices have doubled and, in some areas, even tripled. While that is excellent news for investors and property owners, it's been uncompromising news for those looking to buy a new house or rent a new apartment.

For a short while, it looked like the market in Buffalo was starting to slow down, but all indicators show that Western New York is on deck to be the number one market in the entire nation.

Is This House For Rent In Buffalo The Most Expensive In The City?

One of the primary complaints I've heard about finding a place to live in Buffalo is how expensive apartments and houses have gotten over the last few years.

According to data from the Buffalo Niagara Association of Realtors, home prices have continued to rise across the region. This, in turn, drives rents up to levels never before seen in this area.

The United States Department of Housing and Urban Development says the Fair Market Rent Price for a 4-bedroom house is just over $1,600. Using that number, you should be surprised to see this place that I found on Zillow.

Is This House Worth $4,800 Per Month?

There aren't many large single-family houses for rent in Buffalo, so when they do hit the market, you should pay attention to them. One such house is currently available for rent on Zillow, but the price caught me by surprise.

With four bedrooms and two bathrooms, this early 3,000-square-foot house in Buffalo is perfect for a large family needing space. But can the average Buffalo family afford to live there? Non-profit housing organizations like the Buffalo Urban League suggest that your rent should be no more than 30% of your gross monthly income. For a family to meet this threshold, they would need to earn more than $190,000 per year.  According to the US Census Bureau, the Median Family Income for a Buffalo family is $46,184 per year.

While this house looks nice, I don't know if it's worth nearly $60,000 annually. You definitely need to earn a few nickels to afford this place. The $4,800 per month rent may set you back a bit. According to Zillow, this is the most expensive house for rent in the entire city.

If you do rent this place, let me know because I'll bring you a housewarming gift. Check out the pictures below and tell me what you think about it.

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