Wright County · Minnesota · Midwest · 16k residents
Buffalo, MN: economy, jobs & business costs
The site-selection read on Buffalo: labor costs, talent, corporate tax, energy, and business activity, with the Minnesota median as the yardstick. Compare it live against any of 3,000 US cities.
Data coverage: ACS place data; supplementary fields may use state estimates.
Average weekly wages in the surrounding labor market run $1,108/wk. Minnesota's corporate income tax rate is 9.8%. Commercial electricity averages 12.1¢/kWh.
Compare Buffalo side by side
Avg. weekly wage
$1,108/wk
Corporate income tax
9.8%
Bachelor's degree or higher
32%
Commercial electricity
12.1¢/kWh
Economic momentum
How fast Buffalo's economy is moving, ranked against the US cities we track.
57/100
Steady
Ranks Buffalo's residential building-permit and jobs growth against the US cities we cover. The label is relative pace, not a direction, so a market can rank low while some figures still rise. A higher score moves faster, it is not cheaper or better. This is economic activity, not commercial lease rates or vacancy. Not investment or relocation advice.
| ACS median home value | $314,400 |
| Price per sq. ft. | $200 |
| Property tax rate | 1.05% |
| 1-bedroom rent | $936/mo |
| 2-bedroom rent | $1,206/mo |
| State & local income tax | 3.68% |
| Sales tax | 7.5% |
| Corporate income tax | 9.8% |
| Avg. weekly wage | $1,108/wk |
| Bachelor's degree or higher | 32% |
| Commercial electricity | 12.1¢/kWh |
| Businesses per 1k residents | 25.9/1k |
| Wage: Software developer | $130,920 |
| Wage: Registered nurse | $103,040 |
| Wage: General manager | $103,570 |
| Wage: Customer service | $49,480 |
| Wage: Warehouse worker | $37,440 |
| Wage: Heavy truck driver | $64,200 |
| Wage: Electrician | $81,890 |
| Wage: Retail salesperson | $36,670 |
| Cost of living index | 93 |
| Groceries index | 100 |
| Utilities | $165/mo |
| Transit pass | $85/mo |
| Gas price | $3.15/gal |
| Healthcare index | 102 |
| Childcare (per child) | $1,350/mo |
| Median household income | $88,820 |
| Unemployment rate | 2.9% |
| Population | 16k |
| Crime index | 40/100 |
| School rating | 7.0/10 |
| Walkability | 30/100 |
| Disaster risk | 68/100 |
| Avg. commute | 24 min |
| Sunny days / year | 195 days |
| July high | 81°F |
| January low | 3°F |
| Annual snowfall | 40 in |
| Home price YoY | +2.6% |
| Home price MoM | -0.2% |
| Rent YoY | — |
| Rent MoM | — |
| Employment (jobs) YoY | +0.9% |
| Building permits YoY | -14.1% |
| Ocean coast | 1056 mi |
| Big lake | 23 mi |
| Mountains | 459 mi |
| Major airport | 38 mi |
| Ski resort | 132 mi |
Popular comparisons
Nearby
- St. Michael, MN · 20k
- Otsego, MN · 22k
- Elk River, MN · 27k
- Ramsey, MN · 28k
- Maple Grove, MN · 71k
Similar size
- Hugo, MN · 16k
- Ham Lake, MN · 17k
- Red Wing, MN · 17k
- Hibbing, MN · 16k
- Bemidji, MN · 16k
Real listings in Buffalo
LoopNet ↗Crexi ↗CommercialCafe ↗
Links open third-party listing searches. WhereToHQ has no paid relationship with these sites.
- Is Buffalo a good place to run a business?
- Minnesota's corporate income tax rate is 9.8%; average weekly wages in the surrounding labor market run $1,108/wk; commercial electricity averages 12.1¢/kWh. Weigh these against your own priorities in the business comparison tool.
- What is the cost of living in Buffalo, MN?
- Buffalo indexes at 93 for day-to-day costs against a national baseline of 100, with a typical two-bedroom renting for $1,206/mo and a acs median home value of $314,400.
- How much does a house cost in Buffalo?
- The acs median home value in Buffalo is $314,400 (Census ACS estimate; individual listings vary).
- How much is rent in Buffalo?
- A two-bedroom in Buffalo rents for about $1,206/mo.