Compare Buffalo, NY mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Buffalo.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Buffalo. Plus, shopping lenders is free and there is no obligation.
September 15, 2025
Below we provide helpful information on the real estate market, home prices and housing affordability in Buffalo. Understand how much you need to earn to afford a home in Buffalo, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Buffalo fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Buffalo is right for you.
The median home value for Buffalo, NY (Erie County) is $225,694
Based on current mortgage rates and a 10% down payment, you need to make $47,083 per year to buy the median priced home in Buffalo
With this income, you could qualify for a $203,124 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Buffalo is $1,090
The median household income for Buffalo, NY (Erie County) is $63,955
Based on this income, you can afford a home valued at approximately $306,569
The home price you can afford to buy based on household income in Buffalo is 136% of the median home value which means housing prices are average. Buffalo (Erie County) ranks 44 out of 62 counties in New York and 2,215 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Buffalo, NY is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Buffalo (Erie County) below.
Conforming loan limits for Buffalo, NY
FHA loan limits for Buffalo, NY