Buffalo:
According to
bestplaces.net, Buffalo has experienced some of the highest real estate appreciation rates of any community in the nation. Yet, the average income of a Buffalo resident is $20,726 a year versus the US average of $28,555 a year. Similarly, the median household income of a Buffalo resident is $31,668 year versus the US average of $53,482 a year. Buffalo also has an unemployment rate of 5.8% while the US average is 3.9%
Buffalo is the second largest city in New York, and by many measures the most economically and socially distressed. The typical Buffalo household earns only $32,509 a year, and about one in three area residents live below the poverty line. In comparison, the median annual household income across the state is $60,850, and about 15.4% of state residents live in poverty. Financial prosperity is undercut by a lack of employment opportunities. The city’s 7.1% unemployment rate is the highest of any city in the state and well above the 5.3% statewide rate.
Upstate New York's three biggest cities have all been named among the worst places to live in the United States.
www.newyorkupstate.com
Rochester:
Thanks, largely in part, to historically high appreciation rates, the median home price in Rochester is currently $128,100. However, while the rest of the country saw an average increase of nearly 5% over the past year, Rochester homes appreciated just 1 percent. Comparatively, the average home in the United States appreciated by 25.8% over the course of three years, whereas Rochester home values only increased 7.7 percent. As you can see, Rochester homes are heading in the right direction, just not at the same rate as the rest of the country... More than 6% of homeowners in the United States are delinquent, or behind, on mortgage payments. However, the Rochester housing market nearly doubles the national average. Accordingly, about 13% of all homeowners in the Rochester area are behind on payments. Surprisingly, with delinquencies as high as they are, only 11% of Rochester homeowners are underwater, that is to say that they owe more on their property than it is worth.
While the Rochester housing market has a long way to go, continuing trends remain promising for the upstate New York city.
www.fortunebuilders.com
"The typical Rochester household earns only $31,946 a year, slightly more than half the statewide median income of $60,850. In addition to very low incomes, serious financial hardship is relatively common in the
Western New York city. About one in three Rochester residents live in poverty, a higher poverty rate than in all but 14 other U.S. cities.
"Property values in Rochester are very low on average. More than half of all homes in the city are worth less than $77,000, one of the lowest median property values in the country. High property taxes saddle area residents with additional financial burdens. Homeowners pay 3.3% of their home value in property taxes on average on an annual basis, far higher than the 1.2% the typical American homeowner pays."
Upstate New York's three biggest cities have all been named among the worst places to live in the United States.
www.newyorkupstate.com
Syracuse:
"An economic powerhouse in the industrial era, Syracuse has been in decline for decades. Today, some 31.0% of Syracuse residents live in poverty, roughly double the New York state poverty rate of 15.4%. The high poverty rate is likely fueled, in part, by a struggling job market. The city’s annual unemployment rate of 6.6% is well above the statewide unemployment rate of 5.3%. Total employment in the city fell by about 1% between 2013 and 2015, even as employment nationwide climbed 4% over the same time period.
"Often indicative of less desirable places to live, property is relatively cheap in Syracuse. The typical area home is worth only $93,100, less than a third of the statewide median home value of $293,500."
Upstate New York's three biggest cities have all been named among the worst places to live in the United States.
www.newyorkupstate.com
Upper NY sounds like upper PA. An economically drowning debt ridden shithole.
