Two Of The Most Affordable Cities In The World Are In Western New York

Anyone who has considered buying a house after the COVID-19 pandemic, or have even been brave enough to attempt to do so, knows that the market is not fun right now.

Things are so competitive right now that many frustrated potential homebuyers are continuing to rent; not being able to get an offer in and getting beat out by all-cash offers. It’s an incredibly tedious (not to mention frustrating) process. 

However, a new study that was just released may have Western New York residents (or those looking to move to the area) reconsidering just how expensive buying a home here really is compared to the rest of the country (and the world). 

Two Cities Ranked "Most Affordable In The World" Are In Western New York

A recent study from Chapman University in California, in combination with the Frontier Centre for Public Policy in Canada, revealed that Rochester, New York, is one of the most “affordable” cities in the world. It ranks #2 out of 94 cities that the Dermographia International Housing Affordability rated, using a housing price-to-income ratio to determine the affordability of housing throughout the metro. 

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Surprisingly, another city in Western New York showed promise in the recent housing study. Buffalo, New York also ranked within the top ten of the study’s list, coming at the #6 spot.  

However, several local Western New York residents are proclaiming their skepticism on social media, with one user commenting, “I have a friend who’s been trying to buy for a year. Put in like 10 offers generally 30-50k over asking. Still nothing.” 

Others are sticking up for the cost of housing here in Western New York:

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“While home prices are increasing, the income to cost-of-living ratio is still actually pretty great.”

Homeowners and hopeful homebuyers in the 585 and the 716– what do you think? Is the cost of housing here in Western New York actually "affordable"? Or are we all just doomed to be renters forever?

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