The Budenz House was named after its owner, Joseph Budenz of German descent. Joseph Budenz founded Hungarian comparative linguistics; he was also a scholar of Finno-Ugric languages.The façade of the Budenz House is in Copf style from 1781.Its foundation was constructed in the Middle Ages. The 13th century well unearthed during the reconstruction works seem to prove of the age of the building.

The Budenz House hosts the collection of Ervin Ybl (1890-1965) he bestowed to the King St. Stephen Museum. Part of the bequest is furniture of the Ybl family from the 18-19th century, as well as paintings and personal articles. The rest is the fine- and applied art collection of Ervin Ybl. The collection includes at least one work of art by every outstanding Hungarian artist working in the first decades of the 20th century. There are paintings by Bertalan Székely, István Csók, János Vaszary, Noémi Ferenczy, István Szőnyi, statues by Márk Vedres, Vilmos Fémes Beck, Ferenc Medgyessy, Pál Pátzay, Béni Ferenczy, Miklós Borsos etc. The setting of the study in secession style made in Scotland is a curiosity in the applied art section.