Buffalo Ranks Among the Best Cities for Affordable Homes!
Buffalo, N.Y. – Buffalo has earned national recognition as one of the most affordable cities to live in, according to a new study by Forbes Advisors.
This study looked at the 100 largest U.S. cities, focusing on factors such as affordability, housing inventory, and lifestyle to determine the top cities for buying an affordable home.
Forbes ranked Buffalo third on their list, with the city boasting a median home sale price of around $211,133.
One of the standout points from the study was that Buffalo has the third-lowest cost of living, with only 14.9% of the average household income needed to cover housing expenses.
In addition to affordability, Buffalo earned high marks for its quality of life. The city ranked 10th in education, 20th for dining and entertainment, and benefits from its proximity to Lake Erie and Lake Ontario, which adds to its appeal.
Peter Hunt, CEO of Hunt Real Estate, believes that Buffalo’s inclusion in this ranking is a testament to what locals have known for a long time.
“It’s good news and an affirmation of what we’ve felt here for years. Buffalo has always been an affordable place to live compared to other major cities,” Hunt told WBEN.
Hunt explained that affordability isn’t just about the price of a home—taxes and other costs also play a major role in making the city a good value for potential homeowners.
He agrees with Forbes’ assessment, adding that the ranking highlights Buffalo’s strong points and serves as an opportunity for the city to market itself to those considering relocation.
Buffalo’s investments in technology, infrastructure, and its wide range of attractions, including sports, arts, and museums, contribute to its growing appeal.
Hunt believes that Buffalo’s climate, often overlooked as an asset, also plays a role in making the city attractive to new residents.
With a combination of affordable living and these additional lifestyle factors, Hunt feels that Buffalo’s ranking in Forbes is a well-deserved validation on a national level.
The Forbes study gave Buffalo a perfect score of 100 for affordability, the only city in the top 100 to receive such a rating.
This score was determined by looking at the median sale price; homeowner costs as a percentage of income, and property taxes as a percentage of home value.
While Hunt notes that rankings like these may not carry major financial implications, they do help validate what locals have long felt about their city. “It’s another feather in the cap for the people of Buffalo.
Now the world can see that this is a great place to buy a home,” he said. “Affordability is not just about price—livability and lifestyle matter too.”
Hunt is confident that Buffalo’s leaders, such as those with Visit Buffalo Niagara and Invest Buffalo Niagara, will use this recognition to promote the city.
He emphasizes that Buffalo offers a unique blend of affordability, cultural attractions, natural beauty, and professional sports, all of which make it stand out among mid-sized cities in the U.S.
“There’s nice things everywhere, but Buffalo has a package that’s hard to beat.
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Two Great Lakes, the Niagara River, professional sports, one of the top art museums in the country, and miles of undeveloped waterfront all make Buffalo a special place. It’s something we should claim as ours,” Hunt concluded.