The Five Most Expensive Houses For Rent In Western New York

Nice and affordable housing has been a hot commodity in Western New York over the last few years. It goes without saying that the region has seen some exponential increases in both home sales prices and apartment rental costs. This, among others, is one of the reasons why Buffalo continues to have the hottest housing market in America.

Of course, this is something that we haven't been able to say for nearly a century. You have to go back to the days when Buffalo boasted more millionaires per capita than any other city in the nation to see numbers like this.

What this means for the average person is that housing prices in many areas of town doubled and even tripled in some areas. While that is great news for property owners and investors, it's been more than difficult for the average Buffalonian to buy a house or rent an apartment.

READ MORE: Is It Cheaper To Buy Or Rent Your Home In Western New York

While tough, the market is not impossible to navigate, and while numbers have slowed down, the housing market in the 716 is still booming.

These Are The Five Most Expensive Houses For Rent in WNY

I came across a Facebook post complaining about an apartment for rent in North Buffalo. The small two-bedroom unit, not far from Hertel and Parkside, was listed for rent at an eye-popping $1,600 per month.

That reminder if exactly how expensive rent has gotten in the 716 sent me strolling down the internet super highway looking for the most expensive houses for rent in WNY. Some of these houses listed below are simply amazing, but I'm curious if you think they're worth the price.

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According to data from the Buffalo Niagara Association of Realtors, home prices have continued to rise across the region. This, in turn, drives rents up to levels never before seen in this area.

The United States Department of Housing and Urban Development says the Fair Market Rent Price for a 4-bedroom rental unit is just over $1,600. Using that number, do these places seem fair and affordable in comparison?

With the average rent of these five houses coming in at $4,160, can the typical Buffalo family afford to live there? Non-profit housing organizations like the Buffalo Urban League suggest that rent should be no more than 30% of your gross monthly income. For a family to meet this threshold, they would need to earn more than $165,000 per year. According to the US Census Bureau, the Median Family Income for a Buffalo family is $46,184 per year.

If you happen to rent one of these places, let me know, and I'll bring you a housewarming gift.