Total monthly cost of ownership
Cost to Own a Home in Buffalo, West Virginia
A $124,000 home here costs
$1,151per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $49,500 a year.
A standard mortgage calculator would have told you $676. The real number is $475 higher every month, 70% more than the payment most buyers budget for.
Compare Putnam County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Buffalo from a five-year rolling sample, and with about 1,110 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Putnam County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Buffalo against Putnam County and West Virginia
| Measure | Buffalo | Putnam County |
|---|---|---|
| Median home value | $124,100 | $214,200 |
| Median property tax | $847 | $1,235 |
| Effective tax rate | 0.683% | 0.577% |
| Median gross rent | $720 | $975 |
| Population | 1,110 | 57,250 |
The weather behind that power bill
Buffalo sits in Putnam County, which averages a high of 87.0°F in its hottest month and a low of 24.0°F in its coldest, with 39.48" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,154 cooling and 4,568 heating degree days, which is what sets the $168 electricity line above.
See the full climate breakdown for Putnam County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Putnam County
Full Putnam County cost breakdown · Every county in West Virginia
Talk to someone who works this market
These are Buffalo averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Buffalo every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Buffalo I already own here and may sell
Common questions
How much does it cost to own a home in Buffalo?
A $124,000 home in Buffalo, West Virginia costs approximately $1,151 per month with 20% down at 7.24%. That is $676 principal and interest, $71 property tax, $65 homeowners insurance, $236 utilities and $103 set aside for maintenance.
What is the property tax rate in Buffalo?
Buffalo has an effective property tax rate of 0.683%, based on a median home value of $124,100 and median real estate taxes of $847. That is higher than the Putnam County average of 0.577%.
What is the average home price in Buffalo?
The median owner-occupied home value in Buffalo, West Virginia is $124,100, against $214,200 across Putnam County.
Is it cheaper to rent or buy in Buffalo?
Median gross rent in Buffalo is $720 a month, against $1,151 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Buffalo?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Buffalo, West Virginia at today's rate takes a household income of roughly $49,500 a year. That covers the full $1,151 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Buffalo, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for West Virginia.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.