Airbnb Rules and Regulations in Buffalo, New York

As of 2024, Buffalo has implemented comprehensive regulations for short-term rentals. Hosts must register their properties with the Department of Permits and Inspection Services, with fees ranging from $400 to $650 for initial certification and $200 to $400 for annual renewals, depending on whether the rental is owner-occupied. Non-owner-occupied rentals face additional zoning restrictions and may require special use permits. All short-term rentals must meet safety requirements, such as installing smoke and carbon monoxide detectors, providing fire extinguishers, and posting exit diagrams.

House parties are prohibited, and properties in historic districts are subject to extra scrutiny. To address neighborhood stability and affordable housing concerns, the Buffalo Common Council has temporarily paused issuing new permits in certain districts until existing and pending rentals can be confirmed to comply with updated regulations. Failure to obtain proper licensing can result in fines of up to $500.

Buffalo Airbnb Market Data:

• Average Revenue – $65.3K per year
• Average Daily Rate – $387.7 per night
• Average Occupancy Rate – 53%
• Average RevPAR – $205.2
• Average Home Prices – $216,997

1. Top Place to Invest in Buffalo, New York - Allentown

Nestled in the heart of Buffalo, Allentown is a vibrant and eclectic neighborhood that has captured the attention of savvy real estate investors. With its unique blend of historic charm, thriving arts scene, and prime location, Allentown has emerged as one of the city's most desirable areas for establishing new short-term rental investments.

Allentown Airbnb Market Data:

• Average Revenue – $87.6K per year
• Average Daily Rate – $466.7 per night
• Average Occupancy Rate – 55%
• Average RevPAR – $257.2

Convenience - 8/10

Allentown's central location makes it incredibly convenient for residents and visitors. The neighborhood is well-connected to public transportation, with multiple bus routes running through the area. Additionally, Allentown is within walking distance of downtown Buffalo, providing easy access to the city's main business district, restaurants, and entertainment venues.

Tourist Attractions - 7/10

While Allentown may not boast major tourist attractions, it does offer a unique and charming atmosphere that draws visitors from far and wide. The neighborhood is known for its vibrant arts scene, with numerous galleries, studios, and performance spaces showcasing local talent. Allentown is also home to a variety of independent shops, cafes, and restaurants, creating a lively and engaging environment for tourists to explore.

Things to Do - 8/10

Allentown is a hub of activity, offering a wide range of things to do for both locals and visitors. The neighborhood hosts several local annual events, such as the Allentown Art Festival and the Allen West Festival, which celebrate the area's creative spirit. Foodies will delight in the diverse culinary offerings, from cozy cafes to trendy restaurants serving up global cuisines. Allentown also boasts a thriving nightlife scene, with numerous bars and live music venues catering to various tastes.

Average Home Prices - 7/10

According to Zillow data for 2024, the median home value in Allentown stands at $225,000, representing a modest 2.3% appreciation over the past year. While prices in Allentown are slightly higher than the citywide median, the neighborhood's strong rental demand and potential for long-term appreciation make it an attractive option for investors. The area's unique character and desirable location contribute to its relatively stable housing market.

Proximity to Work-Related Travel - 9/10

Allentown's proximity to major work-related destinations is a significant draw for investors. The neighborhood is just a short drive from the Buffalo Niagara Medical Campus, which employs over 17,000 people and attracts numerous visitors for medical treatment. Additionally, Allentown is conveniently located near the Buffalo Niagara Convention Center and several major sports venues, including KeyBank Center and Sahlen Field, making it an ideal corporate rental base for targeting business travelers and event attendees.

X-Factor - 8/10

What sets Allentown apart is its distinct character and sense of community. The neighborhood's historic architecture and bohemian vibe create a captivating atmosphere that appeals to a wide range of renters and visitors. Allentown's strong community spirit is evident in the numerous locally-owned businesses, art galleries, and community events that take place throughout the year. This unique blend of history, creativity, and community makes Allentown a highly desirable location for Airbnb and short-term rental investments.

2. Top Place to Invest in Buffalo, New York - Elmwood Village

Elmwood Village, a charming and vibrant neighborhood in the heart of Buffalo, has emerged as a prime location for Airbnb investments. With its unique blend of historic architecture, thriving local businesses, and proximity to key attractions, Elmwood Village offers investors a compelling opportunity to capitalize on the growing demand for authentic and memorable travel experiences.

Elmwood Village Airbnb Market Data:

• Average Revenue – $93.4K per year
• Average Daily Rate – $468 per night
• Average Occupancy Rate – 61%
• Average RevPAR – $286.9

Convenience - 9/10

Elmwood Village boasts an exceptionally convenient location just minutes from downtown Buffalo and easily accessible via public transportation. The neighborhood's walkable streets and bike-friendly infrastructure make it easy for visitors to explore the area's numerous shops, restaurants, and parks without relying on a car. This level of accessibility is a major draw for travelers seeking a hassle-free and immersive urban experience.

Tourist Attractions - 7/10

While Elmwood Village may not have high-profile tourist attractions in other parts of the city, it more than makes up for its unique local flavor. Visitors can explore the neighborhood's stunning Victorian and Colonial Revival architecture, browse the eclectic mix of independent boutiques and art galleries, or enjoy a picnic in one of the many well-maintained parks. The neighborhood's authentic charm and laid-back atmosphere are a refreshing alternative to more touristy areas.

Things to Do - 8/10

Elmwood Village offers a wide array of activities and events that cater to diverse interests. Foodies will delight in the neighborhood's thriving culinary scene, with options ranging from cozy cafes to upscale farm-to-table restaurants. The area also hosts regular farmers markets, outdoor concerts, and festivals throughout the year, providing ample opportunities for visitors to immerse themselves in the local culture.

Average Home Prices - 6/10

According to Zillow data for 2024, the median home value in Elmwood Village stands at $325,000, representing a modest 1.8% appreciation over the past year. While prices in Elmwood Village are higher than the citywide median, the neighborhood's strong rental demand and potential for long-term appreciation make it an attractive option for investors willing to pay a premium for a prime location.

Proximity to Work-Related Travel - 8/10

Elmwood Village's central location puts it within easy reach of several major work-related destinations. The neighborhood is just a short drive from the Buffalo Niagara Medical Campus, a major hub for healthcare and research, as well as the Buffalo Niagara Convention Center, which hosts numerous conferences and events throughout the year. Additionally, Elmwood Village is well-connected to the city's major sports venues, including KeyBank Center and Sahlen Field, making it a convenient base for visiting fans and athletes.

X-Factor - 9/10

What sets Elmwood Village apart is its unparalleled sense of community and local pride. The neighborhood's tight-knit residents and business owners have worked tirelessly to preserve its historic character and support its thriving arts and culture scene. This strong community spirit is evident in the numerous locally-owned businesses, public art installations, and community events that take place throughout the year. For travelers seeking an authentic and immersive urban experience, Elmwood Village offers a level of charm and character that is hard to find elsewhere.

3. Top Place to Invest in Buffalo, New York - North Buffalo

North Buffalo, a charming and historic neighborhood, has emerged as a top contender for Airbnb and short-term rental investments in the city. With its unique blend of residential tranquility, convenient location, and growing popularity among visitors, North Buffalo offers investors an attractive opportunity to create a short-term rental business and capitalize on the burgeoning market.

North Buffalo Airbnb Market Data:

• Average Revenue – $48.9K per year
• Average Daily Rate – $425.3 per night
• Average Occupancy Rate – 38%
• Average RevPAR – $158.3

Convenience - 8/10

Situated just minutes from downtown Buffalo, North Buffalo boasts an enviable location that offers the best of both worlds. The neighborhood's well-maintained streets and ample parking make it easy for visitors to navigate, while its proximity to major highways ensures quick access to the city's top attractions and business districts. Public transportation options are also readily available, providing a convenient alternative for those without a car.

Tourist Attractions - 6/10

While North Buffalo may not be home to the city's most iconic landmarks, it does offer a quaint, small-town charm that appeals to visitors seeking a more authentic experience. The neighborhood's historic architecture, featuring a mix of early 20th-century homes and well-preserved Victorian mansions, provides a picturesque backdrop for leisurely strolls. Nearby Delaware Park, designed by renowned landscape architect Frederick Law Olmsted, offers ample green space for outdoor activities and cultural events.

Things to Do - 7/10

North Buffalo's diverse array of local businesses and community events ensures that visitors have plenty to explore during their stay. The neighborhood's thriving restaurant scene showcases a variety of cuisines, from classic Italian trattorias to trendy farm-to-table eateries. Hertel Avenue, the area's main commercial strip, is lined with unique boutiques, art galleries, and specialty shops, offering a delightful shopping experience. The North Park Theatre, a beautifully restored 1920s movie palace, hosts a range of independent films and live performances throughout the year.

Average Home Prices - 7/10

According to Zillow data for 2024, the median home value in North Buffalo stands at $285,000, representing a modest 3.2% appreciation over the past year. While prices in North Buffalo are slightly higher than the citywide average, the neighborhood's strong rental demand throughout the year and potential for long-term appreciation make it an attractive option for investors. The area's well-maintained homes and desirable location contribute to its relatively stable housing market.

Proximity to Work-Related Travel - 8/10

North Buffalo's strategic location puts it within easy reach of several major work-related destinations. The neighborhood is just a short drive from the Buffalo Niagara Medical Campus, a thriving hub of healthcare and research institutions. Additionally, North Buffalo is well-connected to the city's central business district, making it a convenient base for business travelers attending conferences or meetings downtown. The Buffalo Niagara International Airport is also easily accessible, further enhancing the neighborhood's appeal for work-related travel.

X-Factor - 8/10

What sets North Buffalo apart is its strong sense of community and neighborhood pride. The area's tight-knit residents and local business owners have worked tirelessly to preserve its historic character and foster a welcoming atmosphere for visitors. This community spirit is evident in the numerous neighborhood events, such as the popular Hertel Alley Street Art Festival and the weekly North Buffalo Farmers Market. The neighborhood's walkability and friendly vibe create an inviting environment that keeps visitors coming back, making it an ideal location for short-term rental investments.

4. Top Place to Invest in Buffalo, New York - Buffalo River

The Buffalo River area has emerged as a hidden gem for Airbnb and short-term rental investments in the city. With its unique blend of industrial heritage, waterfront access, and ongoing revitalization efforts, this neighborhood offers investors an opportunity to capitalize on the growing demand for authentic and memorable travel experiences in an up-and-coming location.

Buffalo River Airbnb Market Data:

• Average Revenue – $56.2K per year
• Average Daily Rate – $388.4 per night
• Average Occupancy Rate – 57%
• Average RevPAR – $197.9

Convenience - 7/10

Situated just south of downtown Buffalo, the Buffalo River area offers a convenient location for visitors looking to explore the city's attractions. The neighborhood is easily accessible by car, with ample parking along the streets and designated lots. Public transportation options are somewhat limited, but the area's proximity to major highways and downtown Buffalo makes it a relatively easy destination to reach.

Tourist Attractions - 6/10

While the Buffalo River area may not have the high-profile tourist attractions in other parts of the city, it offers a unique and fascinating glimpse into the city's industrial past. Visitors can explore the Buffalo River History Tour, which showcases the area's rich heritage through guided boat tours and interactive exhibits. The nearby Silo City, a collection of repurposed grain elevators, hosts various cultural events and art installations throughout the year, drawing visitors interested in the area's unique architecture and history.

Things to Do - 7/10

The Buffalo River area offers a growing array of activities and attractions for visitors to enjoy. The Riverworks complex, a former grain elevator turned multi-use entertainment venue, features a brewery, restaurant, and a variety of outdoor activities, including kayaking, rock climbing, and zip-lining. The area also boasts several parks and green spaces along the riverfront, providing opportunities for picnicking, fishing, and enjoying the scenic views of the water.

Average Home Prices - 8/10

According to Zillow data for 2024, the median home value in the Buffalo River area stands at $180,000, representing a modest 4.5% appreciation over the past year. This price point is significantly lower than the citywide average, making the neighborhood an attractive option for investors looking to enter the market at a lower cost. The area's ongoing revitalization efforts and growing popularity among visitors suggest strong potential for long-term appreciation.

Proximity to Work-Related Travel - 6/10

The Buffalo River area's proximity to work-related destinations is somewhat limited compared to other neighborhoods in the city. While the area is relatively close to downtown Buffalo, it is not within walking distance of major employers or convention centers. However, the neighborhood's easy access to major highways makes it a convenient base for visitors attending events or meetings in other parts of the city.

X-Factor - 8/10

Its unique blend of industrial heritage and ongoing transformation sets the Buffalo River area apart. The neighborhood's historic architecture, waterfront location, and growing recreational activity roster create a distinctive atmosphere that appeals to visitors seeking an authentic and immersive experience. As the area continues to evolve and attract new investments, it offers a compelling opportunity for Airbnb and short-term rental investors to get in on the ground floor of an emerging destination.

5. Top Place to Invest in Buffalo, New York - Grant Ferry

Nestled in the heart of Buffalo, Grant Ferry has emerged as a hidden gem for savvy Airbnb and short-term rental investors. This charming neighborhood offers a unique blend of historic charm, convenient location, and untapped potential, making it an attractive option for those seeking to capitalize on the city's growing tourism industry.

Grant Ferry Airbnb Market Data:

• Average Revenue – $76.8K per year
• Average Daily Rate – $389.6 per night
• Average Occupancy Rate – 60%
• Average RevPAR – $239.2

Convenience - 8/10

Grant Ferry's central location is one of its greatest assets for investors. Situated just minutes from downtown Buffalo and easily accessible via public transportation, the neighborhood offers visitors a convenient base for exploring the city's attractions. The area's walkable streets and ample parking options further enhance its appeal for short-term renters.

Tourist Attractions - 6/10

While Grant Ferry may not boast major tourist attractions within its borders, its proximity to nearby points of interest makes it an attractive option for visitors. The neighborhood's historic architecture and quaint streetscapes provide a charming backdrop for those seeking an authentic Buffalo experience. Additionally, Grant Ferry's location near popular destinations such as Allentown and the Elmwood Village ensures that visitors have plenty of options for entertainment and exploration.

Things to Do - 7/10

Grant Ferry offers a diverse array of local businesses and community events that cater to the interests of both residents and visitors. The neighborhood's thriving restaurant scene showcases a variety of cuisines, from classic Italian trattorias to trendy cafes and bars. Grant Ferry also hosts several annual festivals and markets, providing a glimpse into the area's vibrant culture and community spirit.

Average Home Prices - 8/10

According to Zillow data for 2024, the median home value in Grant Ferry stands at $185,000, representing a modest 3.5% appreciation over the past year. This price point is significantly lower than the citywide median, making the neighborhood an attractive option for investors looking to enter the market at a lower cost. The area's ongoing revitalization efforts and growing popularity among young professionals and families suggest strong potential for long-term appreciation.

Proximity to Work-Related Travel - 7/10

Grant Ferry's location puts it within easy reach of several major work-related destinations. The neighborhood is just a short drive from the Buffalo Niagara Medical Campus, a thriving hub of healthcare and research institutions. Additionally, Grant Ferry is well-connected to the city's central business district, making it a convenient base for business travelers attending conferences or meetings downtown. The Buffalo Niagara International Airport is also easily accessible, further enhancing the neighborhood's appeal for work-related travel.

X-Factor - 8/10

What sets Grant Ferry apart is its unique blend of historic charm and untapped potential. The neighborhood's architecture, featuring a mix of Victorian and early 20th-century homes, creates a captivating atmosphere that appeals to visitors seeking an authentic Buffalo experience. As the area continues to attract new investments and development, it offers a compelling opportunity for Airbnb and short-term rental investors to get in on the ground floor of an emerging destination. Grant Ferry's strong community spirit and growing popularity among young professionals and creatives further contribute to its desirability as an investment location.