At $1,663/mo, rent takes about 22% of the local median household income, comfortably within the 30% benchmark.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,663 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
30% of the median household income ($88,820) is $2,221 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($1,970); a 4-bedroom is $2,240.
From Zillow's monthly rent index (ZORI) for Buffalo. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Buffalo, MN is majority owner-occupied, 32% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Buffalo, MN has changed in 5 years
Median household income rose from $74,036 to $88,820 between 2021 and 2024, a 20.0% shift. The population has grown by 2.3% since 2021, moving from about 16,121 residents to roughly 16,499. College-educated residents now make up 32% of adults here, versus 28% in 2021.
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Can you afford rent in Buffalo on your salary?
At $1,663/mo, how Buffalo rent compares to typical pay (30% rule).
Buffalo rent by bedroom count
Median rent for each apartment size in Buffalo. Click any size for full breakdown.
Tips for renters in Buffalo
Last updated: October 17, 2026
The median rent in Buffalo is $1,663/mo as of October 2026. A studio apartment averages $1,060/mo while a 2-bedroom runs $1,470/mo. One-bedroom apartments average $1,200/mo and 3-bedroom units go for $1,970/mo.
At 22% of local median household income ($88,820/yr), Buffalo ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.
Frequently asked questions
How much income do you need to rent in Buffalo?
Is rent going up or down in Buffalo?
How does Buffalo rent compare to other cities in Minnesota?
At $1,663/mo, rent takes ~22% of Buffalo's median household income ($88,820/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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