Erie County · New York · Northeast · 277k residents
Buffalo, NY: economy, jobs & business costs
The site-selection read on Buffalo: labor costs, talent, corporate tax, energy, and business activity, with the New York median as the yardstick. Compare it live against any of 3,000 US cities.
Data coverage: Curated city row; coverage varies by fact.
Average weekly wages in the surrounding labor market run $1,346/wk. New York's corporate income tax rate is 7.25%. Commercial electricity averages 18.8¢/kWh.
Compare Buffalo side by side
Avg. weekly wage
$1,346/wk
Corporate income tax
7.25%
Bachelor's degree or higher
31.2%
Commercial electricity
18.8¢/kWh
Economic momentum
How fast Buffalo's economy is moving, ranked against the US cities we track.
43/100
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.
| Median home value | $220,000 |
| Price per sq. ft. | $150 |
| Property tax rate | 1.9% |
| 1-bedroom rent | $1,200/mo |
| 2-bedroom rent | $1,450/mo |
| State & local income tax | 4.07% |
| Sales tax | 8.75% |
| Corporate income tax | 7.25% |
| Avg. weekly wage | $1,346/wk |
| Bachelor's degree or higher | 31.2% |
| Commercial electricity | 18.8¢/kWh |
| Businesses per 1k residents | 26.2/1k |
| Wage: Software developer | $127,850 |
| Wage: Registered nurse | $99,060 |
| Wage: General manager | $103,280 |
| Wage: Customer service | $45,520 |
| Wage: Warehouse worker | $37,970 |
| Wage: Heavy truck driver | $59,440 |
| Wage: Electrician | $77,930 |
| Wage: Retail salesperson | $34,910 |
| Cost of living index | 91 |
| Groceries index | 98 |
| Utilities | $175/mo |
| Transit pass | $75/mo |
| Gas price | $3.45/gal |
| Healthcare index | 98 |
| Childcare (per child) | $1,250/mo |
| Median household income | $46,000 |
| Unemployment rate | 4.4% |
| Population | 277k |
| Crime index | 52/100 |
| School rating | 5.0/10 |
| Walkability | 68/100 |
| Disaster risk | 98/100 |
| Avg. commute | 21 min |
| Sunny days / year | 166 days |
| July high | 80°F |
| January low | 19°F |
| Annual snowfall | 95 in |
| Home price YoY | +3.7% |
| Home price MoM | +0.3% |
| Rent YoY | +3.1% |
| Rent MoM | +0.4% |
| Employment (jobs) YoY | -0.3% |
| Building permits YoY | +9.3% |
| Ocean coast | 303 mi |
| Big lake | < 3 mi |
| Mountains | 221 mi |
| Major airport | 8 mi |
| Ski resort | 45 mi |
Popular comparisons
Nearby
- Kenmore, NY · 15k
- Lackawanna, NY · 20k
- Tonawanda Town, NY · 57k
- Cheektowaga, NY · 76k
- Tonawanda, NY · 15k
Similar size
- Yonkers, NY · 210k
- Rochester, NY · 209k
- Syracuse, NY · 146k
- Albany, NY · 100k
- New Rochelle, NY · 83k
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?
- New York's corporate income tax rate is 7.25%; average weekly wages in the surrounding labor market run $1,346/wk; commercial electricity averages 18.8¢/kWh. Weigh these against your own priorities in the business comparison tool.
- What is the cost of living in Buffalo, NY?
- Buffalo indexes at 91 for day-to-day costs against a national baseline of 100, with a typical two-bedroom renting for $1,450/mo and a median home value of $220,000.
- How much does a house cost in Buffalo?
- The median home value in Buffalo is $220,000 (compiled estimate; individual listings vary).
- How much is rent in Buffalo?
- A two-bedroom in Buffalo rents for about $1,450/mo.