Cost of Living in Albany, NY
Population 100,492 · Census ACS 2020–2024 5-year estimates
The median rent in Albany, NY is $1,216/month, 25% lower than the New York median and 14% lower than the U.S. median. The median home value is $234,700, 29% lower than the national median. Households earn a median of $61,986 a year, 28% lower than the state median.
Affordability
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Albany vs. New York vs. U.S.
| Albany | New York | U.S. | |
|---|---|---|---|
| Median rent | $1,216 | $1,621 | $1,413 |
| Median home value | $234,700 | $423,800 | $332,700 |
| Median household income | $61,986 | $85,974 | $80,734 |
| Homeownership rate | 38.2% | 54.3% | 65.2% |
| Bachelor's degree or higher | 45.3% | 40.2% | 35.7% |
| Poverty rate | 22.9% | 14.0% | 12.5% |
| Unemployment rate | 7.8% | 6.4% | 5.2% |
| Work from home | 13.2% | 14.9% | 15.1% |
| Median age | 32.0 | 39.8 | 38.9 |
FAQ
What is the average rent in Albany, NY?
The median gross rent in Albany, NY is $1,216 per month (ACS 2020–2024 5-year estimate).
How much do I need to earn to live in Albany, NY?
Using the common 30% rule, renting a median-priced home takes about $48,640 a year in gross income.
Is Albany, NY expensive to live in?
Rent there is 14% lower than the U.S. median, and the median home costs about 3.8 times the median household income.
Other cities in New York
Cities with a similar cost of living
Source: U.S. Census Bureau, American Community Survey 5-year estimates. Estimates have margins of error, especially for smaller places. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
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