The typical owner-occupied home in Buffalo is worth about $141,800, 38% below the Missouri median of $230,300 and 57% below the national median of $332,700. Owners pay a median $811 a year in property taxes, about 0.57% of their home's value, lower than the Missouri rate of 0.85%. The median household earns $39,896 a year, so the median home costs 3.6 times the median income (3.3 times for Missouri). 45% of occupied homes here are lived in by their owners, and 65% of those owners still have a mortgage.
Buffalo at a glance
| Buffalo | Missouri | U.S. | |
|---|---|---|---|
| Median home value | $141,800 | $230,300 | $332,700 |
| Median property tax paid per year | $811 | $1,948 | $3,119 |
| Property tax as a share of value | 0.57% | 0.85% | 0.94% |
| Median household income | $39,896 | $70,702 | $80,734 |
| Homes lived in by their owners | 45% | 68% | 65% |
| Owner homes with a mortgage | 65% | 60% | 61% |
| Median monthly costs, owners with a mortgage | $973 | $1,524 | $1,963 |
| Those costs as a share of the owners' income | 17.5% | 19.0% | 21.0% |
| Median rent | $627 | $1,033 | $1,413 |
| Rent as a share of renters' income | 26.8% | 28.1% | 30.6% |
| Median year homes were built | 1974 | 1978 | 1980 |
| Vacant homes | 11.9% | 11.2% | 10.1% |
| Population | 3,417 | 6,191,814 | 334,922,499 |
What a typical home costs per month in Buffalo
At this week's average 30-year rate of 7.11%, buying the median Buffalo home of $141,800 with 20% down costs about $890 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,126, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $38,124 for the 20%-down payment. That payment is 27% of the median Buffalo household income of $39,896; at that income and 20% down, the 28% guideline points to a home of about $148,000.
The median rent here is $627 a month, so owning the median home costs about $263 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $28,360 |
|---|---|
| Loan amount | $113,440 |
| Principal and interest | $763 |
| Property taxes (0.57% a year) | $67 |
| Homeowners insurance (our estimate, 0.5% a year) | $59 |
| PMI | $0 |
| Total per month | $890 |
Change the numbers in the calculator
| Down payment | $4,963 |
|---|---|
| Loan amount | $139,232 |
| Principal and interest | $937 |
| Property taxes (0.57% a year) | $67 |
| Homeowners insurance (our estimate, 0.5% a year) | $59 |
| FHA mortgage insurance | $63 |
| Total per month | $1,126 |
Change the numbers in the calculator
Questions about home buying in Buffalo
What is the median home value in Buffalo?
About $141,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Buffalo?
Homeowners pay a median $811 a year, which is about 0.57% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Buffalo?
For the median home with 20% down at 7.11%, the payment is about $890 a month. Keeping that under 28% of gross income takes about $38,124 a year.
More about Buffalo
- Mortgage Refinance in Buffalo
- Debt Relief in Buffalo
- Home Equity Loans in Buffalo
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data