Buffalo NY Real Estate

Though there isn't one conclusive theory about the name Buffalo, the one that is popularly and widely accepted is that the name “Buffalo” is an altered form of the French phrase “beau fleuve”, meaning beautiful river, said to have been called out by the French explorers when they saw the magnificent Niagara River. Currently you can find Buffalo real estate in many different types and price ranges; and this area is still just as sought after today..

Second only to the New York City, Buffalo is the most populous city in the State of New York with a population of about 292,648 residents. Established in 1789 as a small trading community, Buffalo showed rapid developments after the opening of the Erie Canal. Buffalo soon became a major railroad hub and earned a reputation of being the largest grain-milling center in the United States and home to the largest steel-making operations in the world.

Today the most of the major steel production that Buffalo was famous for, cease to exist, but there are some small steel mills that still remain in operation. The economy of Buffalo today can mainly be attributed to mix of industrial, light manufacturing, high technology and service-oriented private sector companies. The city has adopted diverse approach instead of relying on a single industry to boost its economy into the 21st century. As a result the there has been a significant drop in the unemployment rate since 2005 where it was 6.6% to July 2007 where the unemployment rate was 4.9%. Buffalo NY real estate also has shown a small increase over the years and continues to expand.

Over a period of time, Buffalo has earned many nicknames. The Queen City became popular in the 1840s referring to the city’s status as being the second larges city in the new York State and also as the second largest city in the United States after Chicago. Buffalo has also been nicknamed as The Nickel City and The City Of Good Neighbors highlighting the friendly and helpful nature of its inhabitants. Being the first American city to have electric street lights, Buffalo is also known as The City of Lights.

Early settlers like the New Englanders, Germans, Irish immigrants, and later on the Polish, Italians, Jewish to the more recent immigrants from Somalia, Sudan and Asia has made Buffalo a melting pot of ethnic cultures. This cultural diversity has added a new dimension that makes Buffalo an interesting city to live and visit. A Buffalo realtor can help you navigate the city and find the right property to suit you, contact one today.