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: $155000
• 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 Bethlehem is a financially viable option for your relocation.

Cost of Living Index

The cost of living index is a widely used metric to determine the relative affordability of cities and towns.

• Index score: 115.3

Median Income

The median income is an important factor to consider when evaluating the affordability of a city or town.

• Median Income: $46184

Educational and Social Amenities

Access to quality education, healthcare, and social services can significantly impact the overall quality of life in a city or town.

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Summary

When considering a move to Buffalo, NY, consider the following factors:

• Taxes: State income, property, and local income taxes can significantly impact your take-home pay.
• Job opportunities: The availability of jobs in your field can affect your quality of life.
• Cost of living: Housing costs, utilities, transportation, and other expenses should be considered when evaluating the affordability of a city or town.