Apartments in 14220

Buffalo:
December Rent Report

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.

December Prices: Buffalo vs. Surrounding Areas

Rent Prices in Buffalo and Surrounding Areas

Rent prices have decreased 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 3 of the Buffalo suburbs increased last month. On the other hand, 4 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

• Rent increased in Tonawanda, NY, East Amherst, NY, Williamsville, NY .

• Rent decreased in Cheektowaga, NY, Amherst, NY, Lockport, NY, Niagara Falls, NY.

• 5 suburbs are currently priced higher than the city of Buffalo.

• 2 suburbs are currently priced lower than the city of Buffalo.

Data set for Buffalo and suburbs

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.