Buffalo has a strong impression as a Rust Belt city, but recent market trends show a distinct price stratification between the urban core and nearby suburban areas.

In downtown Buffalo, Nottingham Terrace and the vicinity of Central Park have long been established as upscale residential areas. This historic district, featuring large homes built in the early 20th century, has a median home price ranging from $400,000 to $550,000. Considering that the overall median price in downtown Buffalo is around $200,000, this represents more than a twofold difference.

Elmwood Village is also mentioned. This walkable neighborhood, which blends commercial and residential spaces, has seen a steady increase in condo and townhouse prices due to the influx of young professionals. The median home price in this area is estimated to be in the mid-$300,000s.

In the suburbs, Williamsville and Orchard Park are considered representative affluent neighborhoods. Williamsville boasts one of the top-rated school districts in New York State, leading to consistent demand for families with children, with median home prices ranging from $450,000 to $600,000. Orchard Park, located near the NFL Buffalo Bills' home stadium, has a median price around $450,000.

The background for these areas becoming relatively upscale residential zones seems to be significantly influenced by school districts and commuting convenience. While Buffalo's overall home prices are lower compared to other major cities, the relative disparities within the region are quite pronounced.

The gap between downtown and the top school districts in the suburbs is two to three times. Some low-income areas in the city have median prices below $100,000, highlighting significant regional disparities even within the same city.

The Korean population in the Buffalo area is relatively small, but Korean families settling as staff or medical personnel related to the University at Buffalo often prioritize the Williamsville school district. The good school district relative to the lower home prices is believed to influence their relocation decisions.

While the Buffalo area has a lower barrier to entry compared to other major cities, it is advisable to consider the potentially high maintenance costs for roofs and heating due to heavy snowfall in winter.