Welcome to the December 2024 Buffalo Apartment Report. In this assessment of
the local rental market, Rentable data scientists and rental experts break down the
December 2024 key findings and figures for the Buffalo rental landscape.
Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in
Buffalo and surrounding areas and provide comparisons to the entire metro area, nearby cities and
some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of
Buffalo average rent prices in the chart below.
Monthly Rent Report
$750
$560
$380
$190
$0
Jan. 2024
Feb. 2024
Mar. 2024
Apr. 2024
May. 2024
Jun. 2024
Jul. 2024
Aug. 2024
Sep. 2024
Oct. 2024
Nov. 2024
Dec. 2024
1 BR2 BR
Buffalo Rent Prices Increase From November to December
Buffalo rent prices increased over the last month. From November to December, the city experienced a 3.01% increase for the price of a one-bedroom apartment. The rent price for a Buffalo one-bedroom apartments currently stands at $548.0.
When we take a look at the two-bedroom comparison from November to December, Buffalo experienced a -7.0% decrease for the price of a two-bedroom apartment. The rent price for a Buffalo two-bedroom apartments currently stands at $518.0.
December Prices: Buffalo vs. Surrounding Areas
Rent Prices in Buffalo and Surrounding Areas
Rent prices have increased in Buffalo over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 0 of the Buffalo suburbs increased last month. On the other hand, 0 local areas experienced a decrease in the price of a one-bedroom apartment.
More key findings include:
Rents did not increase in any of the Buffalo suburbs
Rents did not decrease in any of the Buffalo suburbs.
December 2024 Pricing Trends: Buffalo vs. National Comparisons
New York, NY
San Francisco, CA
Los Angeles, CA
Washington, DC
Chicago, IL
Columbus, OH
Minneapolis, MN
Pittsburgh, PA
$4,134
$3,160
$2,389
$2,353
$1,914
$1,318
$1,255
$1,234
$0
$1,350
$2,700
$4,050
$5,400
Median Rent
Buffalo Rent Prices More Affordable Than Major Cities
Rent growth in Buffalo over the past year has been
on the rise. When compared to major cities nearby, along
with some of the most expensive cities in the country, Buffalo average rent prices appear to be
relatively affordable for local residents.
The price for a Buffalo one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.
For more information about Buffalo and surrounding area rent prices, take a look at the complete data set below.
Data set for Buffalo and suburbs
1 BR December
1 BR M/M % Change
2 BR December
2 BR M/M % Change
Methodology
Each month, using over 1 million Rentable listings across the United States, we calculate the median
1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To
avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and
property count thresholds.