Side-by-side comparison of Buffalo, NY and Albany, NY — cap rates, rent, prices, and investment metrics.
Cash flow: Buffalo has the edge with an estimated cap rate of 4.15% compared to Albany's 3.97%. Neither city passes the 1% rule outright, so deal sourcing and value-add strategies become more important. Median home prices are $195,000 in Buffalo vs $225,000 in Albany, while rents come in at $1,150/mo and $1,280/mo respectively.
Growth & appreciation: Albany is growing faster at 0.2% annually vs Buffalo's 0.1%. Buffalo leads on home value appreciation at 2.4% per year.
Costs & risk: Property taxes are 1.69% in Buffalo vs 1.68% in Albany. Vacancy rates of 6.2% and 5.5% are mixed — Albany has the tighter rental market.
Bottom line: Buffalo edges out Albany on most key metrics. While cap rates are moderate at 4.15%, Buffalo's overall profile is stronger. Use our free calculators to model specific deals in Buffalo or Albany.