States › Minnesota › Buffalo

Is Buffalo, MN expensive to live in?

OKRent takes 21 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,6715% lower than U.S. average
💵 Families earn per year (2026)$95,792about $7,983/month · 10% higher than U.S. average
🔑 House price$314,4006% lower than U.S. average

Rent is higher than in 51% of U.S. cities. A typical house costs about 3.3 years of household income.

How much money do I need?

To rent here comfortably, you should earn about $66,840 a year. That is $32 an hour at a full-time job.

Is rent cheaper than other Minnesota cities?

No. Rent here is more expensive than in most of Minnesota. It is number 89 of 150 cities from cheapest to most expensive.

Buffalo
$1,671
Hugo
$2,467
Ham Lake
$1,297
Red Wing
$1,442
Hibbing
$947
Bemidji
$1,452
Anoka
$1,380

How much do households earn in Buffalo?

Under $25k
10.6%
$25k–50k
17.8%
$50k–100k
39.2%
$100k–150k
18.4%
$150k+
10.7%

Share of households by yearly income. 29.0% of households earn $100,000 or more.

Rent by apartment size in Buffalo

SizeBuffaloU.S. average
1 bedroom$1,035$1,324
2 bedrooms$1,334$1,509
3 bedrooms$1,557$1,698
4 bedrooms$2,304$2,098

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Buffalo overall?

Everyday prices in Minnesota overall are 1% below the U.S. average (index 98.6, U.S. = 100).

Housing
91
Goods (food, clothes…)
101
Utilities
91
Other services
100
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Buffalo, so the Minnesota figure is shown.

Taxes and bills in Buffalo

🏛️ Property tax$3,484a year · 1.11% of home value · U.S. $3,119
⚡ Electric bill$134a month (typical) · U.S. $156

Life in Buffalo

Commute to work26.5 minU.S.: 26.4 min
College degree32%U.S.: 35.7%
Own their home74.3%U.S.: 65.2%
Below poverty line8.9%U.S.: 12.5%
Unemployment6%U.S.: 5.2%

Is it cheaper to rent or buy in Buffalo?

Renting is cheaper right now: about $510 a month less.

Renting
$1,671
Owning
$2,181

Owning assumes a typical $314,400 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $31,440 for the down payment.

Frequently asked questions

What is the average rent in Buffalo, MN?

Renting in Buffalo costs a median of about $1,671 a month in 2026, including utilities. The Minnesota median is $1,525.

How much do I need to make to live in Buffalo?

To keep rent under 30% of income, you need about $66,840 a year, or $32 an hour at a full-time job.

Is Buffalo cheap or expensive?

Buffalo is rated OK: rent takes 20.9% of the typical household income of $95,792. It ranks 89th cheapest of 150 Minnesota cities we track.

How much are property taxes in Buffalo?

The median homeowner in Buffalo pays $3,484 a year in property taxes, about 1.11% of the median home value.

Is Buffalo more expensive than the national average?

Overall prices in Minnesota are 1% below the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Buffalo?

The median home value in Buffalo is $314,400, about 3.3 times the typical yearly household income.

16,499 people live in Buffalo. Numbers are typical (middle) values.