New York · Population 276,397 · Updated March 2026
How far your income goes in Buffalo
State-level tax rates that affect your costs
Buffalo is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 61 (where 100 equals the national median), Buffalo residents can expect to pay median rent of $989/month while earning a median household income of $48,050/year.
The median home value in Buffalo, NY is $152,300, with typical monthly owner costs around $929 including mortgage, insurance, and taxes. The median rent-to-income ratio of 24.7% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.
New York's top income tax rate of 10.9% is among the highest in the nation, adding to the overall cost burden. Combined with a 4.0% sales tax rate and 1.62% effective property tax rate, the overall tax environment is a factor in the total cost of living in Buffalo.
Common questions about living costs in Buffalo
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