Housing Prices In Buffalo Have Exploded Since COVID Pandemic Times

The summer homebuying season in Buffalo has been one of the hottest ever. For the last few years, Buffalo has consistently ranked as both one of the hottest housing markets in the nation and one of the most affordable housing markets in America. That's a hard combination to accomplish, but Buffalo has done it.

Prior to the COVID-19 Pandemic, housing in Buffalo was very affordable, with prices being well below the national average. However, as the ability for people to engage in remote work has increased, lots of folks from around the country have looked at more affordable places to live while still being able to work in their jobs remotely.

That has poised Buffalo to be on the receiving end of a housing boom, which has helped the economy and brought more investment into the region, but has also hurt many low- and moderate-income people as they are being priced out.

READ MORE: How Buffalo’s Property Tax Increase May Impact Rents In Town

According to WIVB-TV, housing prices in Buffalo have doubled since 2020.

In June 2026, the average sales price of a home in Western New York was $346,591, according to data compiled by the Buffalo Niagara Association of Realtors. In June 2020, that number was $173,874.

While that is great news for developers and homesellers, it's not all that great for people looking to buy or rent in Buffalo.

Unfortunately, even as the cost of real estate has increased year-over-year, wages and other forms of income have not kept pace for the average Buffalonian. When you couple those facts with overall inflation in the Empire State, Western New York is becoming a much tougher place to live.