Quick answer
Overall prices in the Richmond, VA metro were 97.9 vs 95.8 in Buffalo, NY in 2024 (US = 100), so Richmond is 2.1% more expensive than Buffalo; housing rents differ by 22% (99.1 vs 81.0). A $75,000 income in Richmond buys about what $73,456 buys in Buffalo, per BEA.
Data as of 2024. Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024
| Price index (US = 100) | Richmond | Buffalo | Richmond vs Buffalo |
|---|---|---|---|
| All items | 97.9 | 95.8 | +2.1% |
| Goods | 96.8 | 99.7 | -2.9% |
| Housing (rents) | 99.1 | 81.0 | +22.4% |
| Utilities | 89.2 | 129.5 | -31.1% |
| Other services | 98.6 | 97.8 | +0.9% |
| All items, 2008 | 98.1 | 97.0 | +1.1% |
| $50,000 in Richmond equals in Buffalo | $48,971 | ||
| $100,000 in Richmond equals in Buffalo | $97,942 | ||
| $150,000 in Richmond equals in Buffalo | $146,913 |
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Last updated 2026-10-16. Data only, not financial or tax advice.