Buffalo, MN Cost Of Living
Cost Of Living In Buffalo, MN Summary
Cost of living in Buffalo research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Buffalo is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Minnesota, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Buffalo is 104, with 100 being the average.
The cost of living index in Buffalo is 1.0x higher than the national average.
Buffalo ranks as the #70 cheapest in Minnesota out of 147.
Buffalo ranks as the #3,585 cheapest out of 6,412 in the US.
The median home value in Buffalo is $217,800.
The median income in Buffalo is $74,036.
Table Of Contents
Buffalo's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Buffalo, MN?
According to the most recent data on the cost of living, Buffalo has an overall cost of living index of 104, which is 1.0x higher than the national index of 100.
Compared to Minnesota, Buffalo has a cost of living index that's 1.1x higher than Minnesota's index of 95.
The standard of living in Buffalo ranks as #70 most affordable out of the 147 places we measured in Minnesota. By definition, that implies Buffalo ranks as the #77 most expensive place in the North Star State.
For more reading on life in Buffalo, check out:
- Living In Buffalo
- Buffalo Crime Report
- Search Homes For Sale In Buffalo, MN
In Minnesota
In America
Buffalo Cost Of Living Vs. Minnesota
Six factors go into calculating the cost of living index in Buffalo. Here is how it fairs on each of the criteria:
The Services index in Buffalo is 111.
The Groceries index in Buffalo is 110.
The Health index in Buffalo is 116.
The Housing index in Buffalo is 96.
The Transportation index in Buffalo is 100.
The Utilities index in Buffalo is 101.
| Living Expense | Buffalo | Minnesota | National Average | |
|---|---|---|---|---|
| Overall | 104 | 95 | 100 | |
| Services | 111 | 101 | 100 | |
| Groceries | 110 | 98 | 100 | |
| Health | 116 | 111 | 100 | |
| Housing | 96 | 83 | 100 | |
| Transportation | 100 | 98 | 100 | |
| Utilities | 101 | 95 | 100 | |
Buffalo, MN Housing Cost Breakdown
Housing swings affordability the most between places in Minnesota, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Buffalo is $217,800.
The Median Rent in Buffalo is $1,087.
The Median Income in Buffalo is $74,036.
The Home Value To Income in Buffalo is 2.9x.
The Rent To Monthly Income in Buffalo is 0.18x.
| Statistic | Buffalo | Minnesota | United States |
|---|---|---|---|
| Median Home Value | $217,800 | $250,200 | $244,900 |
| Median Rent | $1,087 | $1,081 | $1,163 |
| Median Income | $74,036 | $77,706 | $69,021 |
| Home Value To Income | 2.9x | 3.2x | 3.5x |
| Rent To Monthly Income | 0.18x | 0.17x | 0.2x |
Median Home Value
Median Rent
Median Income
Buffalo, MN Costs By Category
Detailed Buffalo Services Costs Vs. Minnesota
Detailed Buffalo Groceries Costs Vs. Minnesota
Detailed Buffalo Health Costs Vs. Minnesota
Detailed Buffalo Transportation Costs Vs. Minnesota
Detailed Buffalo Utilities Costs Vs. Minnesota
Buffalo SnackAbility
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Cost Of Living In Cities Around Buffalo
The cost of living varies in the cities and towns around Buffalo. Here's a quick look at the cost of living in the most populous nearby places:
Otsego, MN has a cost of living index of 107, 1.0x Buffalo.
St. Michael, MN has a cost of living index of 114, 1.1x Buffalo.
Monticello, MN has a cost of living index of 105, 1.0x Buffalo.
| City | Population | Cost Of Living | Vs. Buffalo |
|---|---|---|---|
| Otsego, MN | 19,565 | 107 | 1.0x |
| St. Michael, MN | 18,148 | 114 | 1.1x |
| Monticello, MN | 14,235 | 105 | 1.0x |
| Rogers, MN | 13,182 | 120 | 1.2x |
| Mound, MN | 9,365 | 110 | 1.1x |
| Minnetrista, MN | 8,215 | 146 | 1.4x |
| Albertville, MN | 7,792 | 105 | 1.0x |
| Delano, MN | 6,386 | 109 | 1.0x |
| Corcoran, MN | 6,317 | 125 | 1.2x |
