Before we begin, note that the purpose of showcasing this article is not to get you to relocate to the Buffalo area!! What we are trying to showcase is how the economy and conditions have dramatically turned around in the past several years and why the area is a great place to invest in. Of course, Buffalo has never been known as a desirable City to relocate to, mainly because of the weather. That makes its inclusion on this list that more remarkable.
The main reason to pay attention to articles like this as real estate investors has to do with issues like cost of living, employment and economic development. As cited in the article, Buffalo's cost of living is amongst the lowest in the nation. Unemployment ranks well below the national average.
Major employers like M&T Bank, HSBC Bank, Geico, Kaleida Health and Synacor are among companies currently hiring in the region. It is important to note that these companies are continuing the recent trend of white collar, non-manufacturing jobs now flooding the region. This falls in line with the theory that the old "rust belt" economy is in Buffalo's rear view mirror. This is in stark contrast to cities such as Detroit and Cleveland whose economies have not diversified and continue to struggle. This is a very important reason why investing in Buffalo rather than other traditional "rust belt" cities has become so enticing.
So while we do not expect this article to move you to pack up the family and move to Buffalo, we hope it will move you to consider investing in a City clearly on the upswing....
