Are the rents too damn high in the Buffalo-Niagara Area?

[nynj147]

Originally Posted by ckhthankgod

Rent in Upstate NY in general are largely more affordable than rent Downstate.

While this is true 99% of the time, considering that Buffalo is a "larger" city in the Upstate/WNY area, rent is still pretty cheap. You can rent in Elmwood Village which is a "hot" area for $800/month or less. Same goes for Amherst, which is very cheap for a clean/safe suburb. And utilities aren't bad either.

[notinpa]

Why are so many people renting ? I have a 4 bed 3 bath house with 16 acres and a large out building . I pay 1200 a month on a 15 year mortgage . Not only am I building equity , I have a write off.

I did just sell a rental I have owned in south buffalo . 3 bed 1 bath . At 700$ a month I was basically breaking even . In the negative if you count time invested . It's such a long term investment , I totally see why the rents are higher. Espically since nobody gives a crap about your house when they leave .

[JWRocks]

Originally Posted by mttzakr87

You know, I was going to bring something up too....it's about the Rents in this area?

Are the Rents too damn high in the Buffalo-Niagara Area? Even compared to Rochester, the rents in the Buffalo Niagara area over the last five years have increased. It's really something IMO how fast things have jumped,

By comparison you go down to Rochester, a budget of $600 to 700 seems to get you more options than what it gets you here....or if you go three hours down to Cleveland, that budget gets you into some nice areas. But using Rochester as a comparable, on that budget its possible to find places in Fairport, or Penfield which are some of the nicer Rochester areas....wth makes up the differences in prices?

$600-700 a month in Fairport or Penfield? I don't think so. There is a low income housing project called The Pines of Perinton, but it's probably subsidized, and basically PoP is a little ghetto. I wouldn't live there.


I too noticed that around 5 years ago housing prices started to climb, but why? I think there was some price fixing by the realitors. How can the prices rise like this with so much vacant housing in the city? There is a lot of high end stuff downtown now, but Buffalo is trying to catch up to other cities, so maybe that is driving prices as all the developers try to take advantage.

[annoyingmagpie]

When the Buffalo-Niagara Medical corridor is fully constructed. I do expect the rent to increase especially in the Elmwood Village area. The new MDs, Nurses, and other staff will need a place to go, until they find a more permanent living space

SSeligman