Read first: What owning 25 Airbnbs taught me, the honest version.
Short-term vs. long-term
A good Airbnb can gross a lot more than a long-term lease on the same unit, but after expenses, in my experience it usually nets only 10 to 20 percent more, for a lot more work and risk. You're running a small hotel: cleanings between every stay, restocking, guest messages at midnight, furniture that wears out, and income that swings with the seasons.
In Buffalo the calendar matters. Summer, Bills home games, concerts, graduations and big events can fill a place at strong rates. January and February can be quiet. Underwrite the slow months, not the best weekend.
What makes a good Buffalo Airbnb
- Location guests actually want. Near downtown, the Elmwood Village, the waterfront, the hospitals, the universities or the stadium.
- Parking. Guests drive here. Off-street parking is a real advantage, especially in winter.
- A layout that sleeps well. Bedrooms and bathrooms matter more than square footage. A two-family can work as two separate listings.
- Something people remember. Old Buffalo character photographs well. So does a good porch.
Rules and costs to check first
- Local regulations. Buffalo and many of the suburbs regulate short-term rentals, and the rules change. Check registration, permits, owner-occupancy requirements and zoning for the exact address before you buy.
- Occupancy taxes. Short-term stays can be subject to local occupancy (hotel) taxes. Ask your accountant how they apply to you.
- Insurance. A standard landlord policy may not cover short-term guests. Get a quote for the right coverage before you close.
- Furnishing and setup. Budget for furniture, linens, kitchen gear, smart locks and professional photos before your first booking.
- Management. Self-manage, hire a co-host, or use a management company. Each changes your numbers a lot.
How I'd run the numbers
Start with what comparable listings nearby actually book for, at a realistic occupancy, then subtract cleaning, platform fees, utilities, internet, supplies, insurance, taxes, repairs and management. Then ask: if short-term rentals got restricted on this street tomorrow, would it still work as a regular rental? If the answer is no, be careful.
Want me to look at a property with you? I'll tell you straight whether I'd buy it as an Airbnb. Start with my investor page or the rental calculator.
Written by James Wangelin. General information only, not legal or tax advice. Check current local rules for any property.
Questions we get a lot
Airbnb investing in Buffalo
Is Buffalo a good market for Airbnb?
It can be. Buffalo gets steady visitors for sports, concerts, the hospitals and universities, and summer tourism, and purchase prices are still well below many other markets. Winter is slower, so plan for it.
Are short-term rentals allowed in Buffalo?
Short-term rentals are regulated in Buffalo and many surrounding towns, and the rules change. Check registration, permit and zoning requirements for the specific address before you buy.
Can I turn a Buffalo double into two Airbnbs?
Sometimes. A legal two-family can often be run as two separate listings, or as one long-term unit and one short-term. Confirm the local rules and the legal unit count first.
What does it cost to set up an Airbnb?
Beyond the purchase, plan for furniture, linens, kitchen supplies, smart locks, professional photos and possibly upgrades like a second bathroom. I typically spend $15,000 to $20,000 per unit before the first guest, and that money doesn't hold its value.
Thinking about an Airbnb?
Send me the property. I'll tell you whether I'd buy it.