Property List - Norada Real Estate Investments

City of Good Neighbors

City of Good Neighbors

Buffalo is a large city located in the state of New York. With a population of 276,486 people and 159 associated neighborhoods, Buffalo is the sixth largest community in New York. Much of the housing stock in Buffalo was built prior to World War II, making it one of the older and more historic cities in the country.

Also of interest is that Buffalo has more people living here who work in computers and math than 95% of the places in the US.

Telecommuters are a relatively large percentage of the workforce: 7.88% of people work from home. While this number may seem small overall, as a fraction of the total workforce it is high relative to the nation. These workers are often telecommuters who work in knowledge-based, white-collar professions. For example, Silicon Valley has large numbers of people who telecommute. Other at-home workers may be self-employed people who operate small businesses out of their homes.

One thing noticeable about Buffalo, is that it has a large population of people who are young, single, educated, and upwardly-mobile career starters. That’s because Buffalo is full of single people in their 20s and 30s and who have undergraduate or graduate degrees and are starting careers in professional occupations. This makes Buffalo a great place for young, educated career starters looking to find many people like themselves, with good opportunities for friendships, socializing, romance, and fun. In fact, Buffalo is one of the top larger cities in America for educated single professionals to flock.

Many people in Buffalo take advantage of public transportation to get around. In fact, for the size of the city, the number of people who use the bus to commute to work is quite high. This helps to fill a need among Buffalo citizens for affordable transportation.

The education level of Buffalo citizens is substantially higher than the typical US community, as 30.03% of adults in Buffalo have at least a bachelor's degree.

The per capita income in Buffalo in 2022 was $29,558, which is lower middle income relative to New York and the nation. This equates to an annual income of $118,232 for a family of four. However, Buffalo contains both very wealthy and poor people as well.

Buffalo is an extremely ethnically-diverse city. The people who call Buffalo home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Buffalo residents report their race to be White, followed by Black or African-American. Buffalo also has a sizeable Hispanic population (people of Hispanic origin can be of any race). People of Hispanic or Latino origin account for 12.34% of the city’s residents. Important ancestries of people in Buffalo include Irish, German, Italian, Polish, and English.

The most common language spoken in Buffalo is English. Other important languages spoken here include Spanish and African languages.

Buffalo APPRECIATION RATE

TIME PERIOD TOTAL APPRECIATION AVG. ANNUAL RATE COMPARED TO State* COMPARED TO AMERICA*
Latest Quarter:
2023 Q3-2023 Q4
0.00% 0.00%
Last 12 Months:
2022 Q4-2023 Q4
0.00% 0.00%
Last 2 Years:
2021 Q4-2023 Q4
0.00% 0.00%
Last 5 Years:
2018 Q4-2023 Q4
0.00% 0.00%
Last 10 Years:
2013 Q4-2023 Q4
0.00% 0.00%
Since 2000: Q1-2023 Q4 0.00% 0.00%
*10 is the highest


RENT & OWNERSHIP

HOME OWNERSHIP RATE


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