Forbes: You Live in America's Most Affordable City
Buffalo, NY (WBEN) Buffalonians, rejoice! Forbes Magazine says the most affordable city is right here.
The magazine cites Buffalo's median family income of $63,500 and a median home sales price of $100,000. That gives the Queen City a home attainability rating of 88.5%. The magazine also notes daily expenses are four percent below the national median.
Forbes also quotes the Buffalo Niagara Enterprise, which mentions wages are lower compared to the rest of the country. The magazine says, "labor costs for highly-skilled workers in Buffalo are 55% less for high tech, 39% less for advanced business services, and 54% for life sciences. Agribusiness and logistics/distribution cost more, though, 22% and 2.6%, respectively."
Memphis came in second, followed by two Ohio cities, Cincinnati and Dayton. Knoxville was ranked fifth.