The typical owner-occupied home in Buffalo is worth about $46,400, 82% below the South Carolina median of $259,000 and 86% below the national median of $332,700. Owners pay a median $504 a year in property taxes, about 1.09% of their home's value, higher than the South Carolina rate of 0.48%. The median household earns $21,614 a year, so the median home costs 2.1 times the median income (3.7 times for South Carolina). 97% of occupied homes here are lived in by their owners, and 12% of those owners still have a mortgage.
Buffalo at a glance
| Buffalo | South Carolina | U.S. | |
|---|---|---|---|
| Median home value | $46,400 | $259,000 | $332,700 |
| Median property tax paid per year | $504 | $1,251 | $3,119 |
| Property tax as a share of value | 1.09% | 0.48% | 0.94% |
| Median household income | $21,614 | $69,324 | $80,734 |
| Homes lived in by their owners | 97% | 72% | 65% |
| Owner homes with a mortgage | 12% | 57% | 61% |
| Median monthly costs, owners with a mortgage | $788 | $1,529 | $1,963 |
| Those costs as a share of the owners' income | 44.0% | 19.7% | 21.0% |
| Median rent | – | $1,180 | $1,413 |
| Median year homes were built | 1967 | 1992 | 1980 |
| Vacant homes | 22.8% | 13.3% | 10.1% |
| Population | 1,329 | 5,296,225 | 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 $46,400 with 20% down costs about $311 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $388, 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 $13,337 for the 20%-down payment. That payment is 17% of the median Buffalo household income of $21,614; at that income and 20% down, the 28% guideline points to a home of about $75,000.
| Down payment | $9,280 |
|---|---|
| Loan amount | $37,120 |
| Principal and interest | $250 |
| Property taxes (1.09% a year) | $42 |
| Homeowners insurance (our estimate, 0.5% a year) | $19 |
| PMI | $0 |
| Total per month | $311 |
Change the numbers in the calculator
| Down payment | $1,624 |
|---|---|
| Loan amount | $45,560 |
| Principal and interest | $306 |
| Property taxes (1.09% a year) | $42 |
| Homeowners insurance (our estimate, 0.5% a year) | $19 |
| FHA mortgage insurance | $21 |
| Total per month | $388 |
Change the numbers in the calculator
Questions about home buying in Buffalo
What is the median home value in Buffalo?
About $46,400 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 $504 a year, which is about 1.09% 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 $311 a month. Keeping that under 28% of gross income takes about $13,337 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