Home Insurance in Buffalo, New York
With a median home value of $164,200, Buffalo is 30% lower than the Erie County median.
The median home in Buffalo was built in 1939 or earlier. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. About 80% of homes were built before 1960, about 25 points above Erie County's 55%.
In Buffalo, the housing stock is 40% single-family homes and 17% apartments in buildings with 5+ units. The rest are 2-4 unit or other housing types.
About 51% of owner-occupied homes in Buffalo have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 43% of occupied homes in Buffalo are owner-occupied. The vacancy rate is 13%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in Buffalo - 86% - are primarily heated with natural gas.
What's the biggest home insurance risk near Buffalo? FEMA's National Risk Index points to winter weather (Very High) in Erie County and Erie County had 1,469 active NFIP flood policies as of September 2026. See the full Erie County home insurance overview for all FEMA hazard ratings and flood coverage details.
The statewide average premium for a standard HO-3 homeowners policy in New York is $1,801 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $164,200 |
|---|---|
| Median year built | 1939 or earlier |
| Owner-occupied share | 43% |
| Share of owner-occupied homes with a mortgage | 51% |
| Top county hazard | Winter Weather (Very High) |
| Active NFIP policies in Erie County | 1,469 |
| Home insurance premium | $1,801 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)