Buffalo, New York Income Statistics
Buffalo Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
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D
Buffalo Well below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Buffalo | New York Avg | US Average |
|---|---|---|---|
| Median Household Income | $50,107 | $86,556 | $80,455 |
| Median Personal Income | $50,871 | $70,316 | $60,758 |
| Average Yearly Income Growth | 5.3% | 4.5% | 4.8% |
| Six-Figure Earners | 6.9% | 16.7% | 13.9% |
| $200k+ Households | 5.3% | 17.1% | 13.2% |
The median household income in Buffalo is about 42% lower than in New York. Income has been growing faster in Buffalo (5.3%/yr) than in New York (4.5%/yr).
About 7% of adults in Buffalo earn six figures ($100,000 or more) a year, lower than the New York average of 17%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Buffalo, New York grew by 64.9% from 2009 to 2024, reaching $50,107 in 2024. That's an average of about 5.3% per year.
Income Inequality and the Gender Pay Gap in Buffalo
| Metric | Buffalo | New York Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.552 | 0.557 | 0.552 |
| Male Median Income | $54,616 | $77,531 | $69,667 |
| Female Median Income | $51,887 | $67,892 | $56,850 |
| Gender Pay Gap | 5.0% | 12.4% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Buffalo, it is 0.552, about the same as New York's 0.557, so income here is about as evenly distributed as there, and about the same as the US's 0.552, so income here is about as evenly distributed as there.
Men's income is about 5% more than women's income in Buffalo, New York. Over a 35-year career, a 5% wage gap accumulates to roughly $95,515 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Buffalo, New York has narrowed from about 16% to 5% in 2024. In dollar terms, the gap has narrowed by $3,413 since 2009.
Employment
| Metric | Buffalo | New York Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 7.3% | 6.4% | 5.2% |
| Working from Home | 11.3% | 15.0% | 15.0% |
| Commute time (minutes) | 17 | 28 | 22 |
Approximately 9,734 people are unemployed in Buffalo, New York.
The average commute time in Buffalo is 17 minutes, shorter than the 28 minutes in New York.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Buffalo, New York has fallen from 13.0% to 7.3% in 2024. Over that period the rate peaked at 13.8% in 2013 and fell as low as 7.0% in 2022.
Buffalo, NY Wealth Compared With Nearby Cities
How Buffalo, NY compares with the 1 cities closest to it.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Buffalo, NY | 274,477 | $50,107 #2/2 | 5.3%/yr #1/2 | 7.3% #2/2 | 0.552 #2/2 |
| Tonawanda Town, NY | 56,806 | $77,786 | 4.2%/yr | 3.5% | 0.476 |
Conclusion
Considering all these factors, Buffalo, New York has an overall wealth index grade of D, making it somewhat worse than New York, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Buffalo, New York.
How Rich Is Buffalo, New York?
Buffalo has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $50,107, about 42% lower than the New York average of $86,556.
Are incomes growing in Buffalo, New York?
Between 2009 and 2024, the median household income in Buffalo, New York rose 65%, from $30,381 to $50,107. Over the same years, income here outpaced New York as a whole: +65% against +56%.
What was the median household income in Buffalo in 2023?
In 2023, the median household income in Buffalo, New York was $48,031, up 4% from $46,298 in 2022. The New York median that year was $85,199.
What was the median household income in Buffalo in 2020?
In 2020, the median household income in Buffalo, New York was $39,674. By 2024 it had risen 26% to $50,107.
What is the Gini coefficient in Buffalo, New York?
The Gini coefficient in Buffalo is 0.552. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is almost the same as the US average of 0.552, so income is distributed about as equally as in the country overall.
How has the income gap between men and women changed in Buffalo, New York?
Since 2009, the income gap between men and women in Buffalo, New York has narrowed from about 16% to 5% in 2024. In dollar terms, the gap has narrowed by $3,413 since 2009.
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