Updated Average Real Estate Prices in Buffalo
If you are looking to buy or rent a home or apartment in Western New York, you will want to know how much it will cost. This is usually the number one priority when purchasing property. Here is an article on the updated average real estate prices in Buffalo, as of November 2019.
Updated Average Real Estate Prices in Buffalo | Homes
If you are looking to buy a home in Buffalo, or the surrounding areas, you probably already know that the prices have gone up. As of November 2018, the median sales price for a home in Buffalo is $125,000. In the Elmwood village and Allentown areas, the prices more than double; some places going for almost $500,000. In the Emslie area, you may be able to find a home going for around $50,000.
In November 2019, the average price of a manufactured home is between $100,000 and $125,000. Manufactured homes are regularly cheaper to buy or rent. The median value of a home is $88,400, while the sales price for purchasing a home still varies depending on the area. Referring to the paragraph above, not much has changed in average median price (some costing as much as $500,000 or more, with some going for as low as $50,000).
Updated Average Real Estate Prices in Buffalo | Renting
If you are not quite ready to be a homeowner, or prefer to rent, you could be looking at an average price of $1,050 per month. Back in the beginning of 2018, you could find a place to rent for $900. Since January, prices have consistently increased. In Buffalo, some of the lowest rent can be found in the Schiller Park area. Homes can be rented for as low as $600.
As of November 2019, the average monthly rent for a 900 sq-ft furnished accommodation in an expensive area is a little over $1,100 per month. For the same housing in a “normal” area, the rent is approximately $975/mo. This does not include the cost of utilities, such as heating, electricity, and gas.
For a studio apartment (480-square-feet) in an expensive area, the rent is slightly over $1,000/mo. In a normal area, a 480-sq-ft studio apartment is approximately $715/mo.
Updated Average Real Estate Prices in Buffalo | How an Attorney Can Help
If you want help with finding a place to live and making sure you are protected, you may want to hire an attorney to guide you through the processes of buying or renting a home. When looking to buy or sell property, most people are clueless on the legal side. Contact Randy Gugino, an experienced Buffalo Real Estate Lawyer who will help you in your search for a home.