Buffalo, IL
Population 405 · Illinois
About Buffalo, IL
Buffalo is a small community located in Illinois with a population of 405 residents according to the latest US Census Bureau American Community Survey data. The median household income is $67,321 per year, which is 10% below the national median of $75,149. The median age of 48.6 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Buffalo features a median home value of $122,400, which is 50% below the national median of $244,900. This makes Buffalo one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $475, 59% below the national average of $1,163/month. Of the 197 total housing units, 72% are owner-occupied (123 units) and 28% are renter-occupied (48 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Buffalo shows an unemployment rate of 2.7%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 13.1%, above the national average of 12.4%. Workers in Buffalo have an average one-way commute time of 25.6 minutes.
Education & Demographics
30.2% of Buffalo residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 1.5% White, 7.4% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 7.9% of the population being foreign-born.
How Buffalo Ranks in Illinois
Cost of Living in Buffalo, IL
Compared to national averages, Buffalo has a median household income of $67,321 (10% below the national median of $75,149). Home values average $122,400, which is 50% below the national median. Monthly rent at $475 is 59% below the US average of $1,163. Within Illinois, Buffalo's income is 10% below the state average of $75,072, and home values are 26% below the state median of $165,779.
Why Live in Buffalo, IL?
Buffalo offers affordable housing with a median home value of $122,400, below the US average of $244,900, and rent that’s lower than the national average at $475/month, and a strong job market with an unemployment rate of just 2.7%.
Potential considerations include median household income ($67,321) that falls below the national average. However, Buffalo’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Buffalo has a population of 405 with a median age of 48.6 years. Compare Buffalo with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Buffalo
Cities in Illinois with a similar population size.
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Illinois
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Buffalo
What is the population of Buffalo, IL?
The population of Buffalo, IL is 405 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Illinois.
What is the median household income in Buffalo?
The median household income in Buffalo, IL is $67,321 per year, which is 10% below the national median of $75,149.
What is the median home value in Buffalo?
The median home value in Buffalo, IL is $122,400, which is 50% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Buffalo?
The median monthly rent in Buffalo, IL is $475, which is 59% below the national average of $1,163/month.
What is the unemployment rate in Buffalo?
The unemployment rate in Buffalo, IL is 2.7%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Buffalo, IL a good place to live?
Buffalo offers a moderate cost of living, affordable housing, and a strong job market. With a population of 405 and a median age of 48.6, the city appeals to established professionals and retirees.
How educated is Buffalo, IL?
30.2% of residents in Buffalo aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Buffalo?
Key cost-of-living indicators for Buffalo, IL: median home value is $122,400 (50% below national), median rent is $475/month, and median household income is $67,321. The home-value-to-income ratio is 1.8x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Buffalo?
The poverty rate in Buffalo, IL is 13.1%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Buffalo, IL?
Buffalo's population is 1.5% White, 7.4% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 7.9% of residents are foreign-born.