List Only

Why is rent so cheap in Buffalo New York?

It looks like a nice city with cool weather. I looked online and it said the average house goes for $100,000!!! That is so cheap. I was looking on Craigslist and was finding three bedoom apartments for around $500. That is amazing. What's the deal?

Public Comments

1. Dear friend to find relevant answer please visit my website.http://real-estate-informations.blogspot.com/ Thank you
2. cost of living is cheap up there isnt a great demand to live there so why should banks or landlords put a high price on their property
3. One trip to Buffalo in the dead of winter will give you your answer.
4. Buffalo is a nice city and does have cool weather. It is an awesome little city with a reputation for horrible winters (that aren't really that bad). Buffalo, like most cities, has good and bad areas. I'm guessing that the 3BR apts for $500 are in less than desirable areas. The median house probably does go for $100,000. Again with the area thing. Speaking of cool... If this rent doesn't include heat it could cost you much much more. A lot of the housing stock in Buffalo is old, before people worried about energy efficiency. Rent a drafty old place and you could spend another $500 a month heating it! Really! Utility costs are quite high in Buffalo. I'm guessing that the $500 apartments were not in Amherst, Orchard Park, Clarence, etc., they were probably East Side, Cheektowaga (bordering the East Side), South Buffalo or Lackawanna. These areas aren't great... good luck! Another note on the housing prices... REAL ESTATE TAXES ARE AWFUL up there. You could pay $4000 a year in real estate taxes on a $100,000 house. Yes, you read that right, $4000 per year! This really keeps the home values depressed because you'd need $350 a month to pay the real estate taxes on a $100,000 house!