Everything else equal, I think we can all agree that living in a cheaper place is better than living in a more expensive place.
I’d much rather pay $500/mo in rent than $1,000. And I’d rather pay $2 for coffee than $5.
And while every neighbhorhood in Buffalo might be more expensive than living in rural New York, there are certain neighborhoods that are definitely cheaper.
So what exactly are those Buffalo neighborhoods where your dollar goes a little further — you can get that one bedroom instead of the studio?
Instead of relying on public opinion and speculation, we wanted to get the facts straight and find out which neighborhoods in Buffalo are the cheapest.
What’s the cheapest neighborhood to live in Buffalo for 2020? According to the most recent census data, First Ward looks to be the cheaptest Buffalo neighborhood to live in.
At this point we should make it clear that you do get what you pay for — some of these neighborhoods might not be the best places to live in Buffalo. You could be sacrificing location or crime rates in return for more space and cheaper groceries.
Read on to see how we determined the places around Buffalo that deserve a little bragging rights or maybe you’re interested in the worst neighborhoods in Buffalo.
Once you’re done, you can look at the bottom of the story for a complete chart of every neighborhood we looked at from cheapest to most expensive.
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How We Determined The Cheapest Buffalo Hoods In 2020
In order to rank the cheapest places to live in Buffalo, we had to determine what criteria defines “cheap”.
- Overall Cost Of Living
- Rent To Income Ratio
- Median Home Value To Income Ratio
We then ranked each neighborhood with scores from 1 to 50 in each category, where 1 was the cheapest.
Next, we averaged the rankings for each neighborhood to create a cheap neighborhood index.
And finally, we crowned the neighborhood with the lowest cheapest neighborhood index the “Cheapest City Neighborhood In Buffalo.” We’re lookin’ at you, First Ward.
Read on below to learn more about what it’s like to live in the cheapest places Buffalo. Or skip to the end to see the list of all the neighborhoods in the city from cheapest to most expensive.
The 10 Cheapest Neighborhoods To Live In Buffalo For 2020
The median income in First Ward comes in at $22,075 and the median home value is $24,533 for 2020.
The median income in Kaisertown comes in at $41,058 and the median home value is $66,317 for 2020.
The median income in Grider comes in at $28,327 and the median home value is $18,575 for 2020.
The median income in South Park comes in at $46,756 and the median home value is $65,414 for 2020.
The median income in Kensington comes in at $37,941 and the median home value is $47,975 for 2020.
The median income in Broadway-Fillmore comes in at $19,697 and the median home value is $21,479 for 2020.
The median income in Tifft comes in at $34,819 and the median home value is $46,267 for 2020.
The median income in Babcock comes in at $26,499 and the median home value is $23,860 for 2020.
The median income in South Ellicott comes in at $26,230 and the median home value is $37,900 for 2020.
The median income in Lovejoy comes in at $28,195 and the median home value is $40,582 for 2020.
Summing Up The Cheapest Places In Buffalo
If you’re measuring the neighborhoods in Buffalo where prices are low and it’s cheap to live, this is an accurate list.
As we mentioned earlier, the neighborhoods in Buffalo aren’t all cheap. Columbus takes the title of the most expensive neighborhood to live in Buffalo.
We ranked the neighborhoods from cheapest to most expensive in the chart below.
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Detailed List Of The Cheapest Neighborhoods To Live In Buffalo For 2020
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