Cost of Living in Buffalo, NY
Housing
The housing market plays a significant role in determining the cost of living in Buffalo, NY.
- Housing Index: 125.4 / 100
- Median Home Price is: $155,000
- Average Rent (2 BR Apartment): $1800 per month
- Average Rent (2 BR House): $1900 per month
When considering a move to Buffalo, NY, the housing index stands at 125.4, indicating that housing costs are somewhat higher than the national average. The median home price of 155000 reflects a reasonably affordable option for potential buyers, especially when compared to other metropolitan areas. However, the average rent for a two-bedroom apartment and house is relatively steep at 1800 and 1900 respectively. This information suggests you may want to weigh the benefits of buying versus renting, especially if long-term residency is a key consideration in your decision-making process.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Buffalo, NY.
- Electricity Price: $26.08 USD (median by state)
- Natural Gas Price: $18.13 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Buffalo, NY could entail higher utility costs. Electricity costs sit at $26.08, while natural gas is priced at $18.13 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Buffalo is a financially viable option for your relocation.