Rent as % of after tax mortgage payment: 122.0%
Median home price change, 2006-2010: 23.8%
Like Rochester, Buffalo has a far higher portion of affordable homes than most other U.S. markets at the moment. The city is also experiencing low foreclosures and a strong local job market.
The Buffalo News recently cited an Inman News report that ranks the Buffalo-Niagara region as one of the 10 "real estate markets to watch" in 2011, and added that foreclosures fell 43.5% in 2010 and are now among the lowest in the nation.