Cost of Living in Albany, NY
Population 100,081 · New York · Data vintage 2023
(100 = US avg)
Albany lands reasonably close to national benchmarks on most cost indicators, with a median home value of $223,000 — 27% below the US figure. That makes it a useful reference point for comparing with more extreme markets in New York. Unemployment has stayed elevated relative to the national figure — 8.3% as of the most recent ACS release — which shows up in household-income and poverty figures as well.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Albany
The median home value in Albany is $223,000 — 27% below the national median of $305,000. Median rent runs $1,178/month, 10% lower than the national median of $1,314/month. The median household income of $59,485/year is 20% lower than the US median of $74,580. The local unemployment rate is 8.3%, above the national average of 4.8%. New York's top state income tax rate is 10.9% and the combined sales tax is 8.5%. The climate averages highs of 59.4°F and lows of 39.4°F, with about 59.2" of annual snowfall. Overall, Albany has a cost of living index of 80 versus the US average of 100, meaning it is 20% less expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 33 | 36 | 45 | 59 | 71 | 79 | 84 | 82 | 74 | 62 | 49 | 38 |
| Low °F | 16 | 18 | 26 | 37 | 48 | 57 | 62 | 61 | 53 | 41 | 32 | 23 |
| Precip" | 2.60 | 2.28 | 3.09 | 3.11 | 3.41 | 4.05 | 4.55 | 3.76 | 3.73 | 3.85 | 2.99 | 3.26 |
| Snow" | 15.6 | 13.7 | 12.0 | 1.6 | 0.1 | 0.0 | 0.0 | 0.0 | 0.0 | 0.3 | 2.6 | 13.3 |
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Albany, NY?
Albany has a cost index of 80 (100 = national average). It is 20% below the national average.
What is average rent in Albany, NY?
The median gross rent in Albany is $1,178 per month based on 2023 Census data.
What is the average home price in Albany?
The median home value in Albany is $223,000 according to Zillow and Census data.
What is the median income in Albany?
The median household income in Albany is $59,485 per year (2023 ACS 5-year estimates).
What is the sales tax in Albany, NY?
The combined state and local sales tax rate in Albany is 8.5%. The New York state income tax top rate is 10.9%.
Is Albany, NY affordable?
Yes, Albany is generally considered affordable, with a cost of living index of 80 — about 20% below the US national average of 100.
What is the weather like in Albany?
Albany has average high temperatures of 59.4°F and average lows of 39.4°F. Annual precipitation is 40.7". Average annual snowfall is 59.2". Data from NOAA 1991–2020 Climate Normals.
Albany at a Glance
- Population
- 100,081
- Median Income
- $59,485
- Home Value
- $223,000
- Median Rent
- $1,178/mo
- Unemployment
- 8.3%
- Avg High Temp
- 59.4°F
- Sales Tax
- 8.5%
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