Rental demand in Buffalo
I get asked a lot about the rental market in Buffalo and whether the market for rentals is strong. Clients have asked me that if property is so cheap then why do people rent?
Owning property is a very British way of life. Not every society sees ownership as a mark of personal success. And in current times more and more people are adjusting to renting as well. In fact I have spoken to quite a number of renters in the UK that say they will never own again. Anyone that has been on the wrong side of a mortgage company will usually agree with this.
Renting in Buffalo and right across Western New york is simply the done thing. Ownership costs are considered high for owner-occupiers and with the success of the Section 8 program, it would be hard to justify owning if you could have your rent paid by the state. It’s also not that easy for lower income families to get a mortgage and even harder in today’s market.