Albany, NY Cost Of Living
Cost Of Living In Albany, NY Summary
Cost of living in Albany research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Albany is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in New York, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Albany is 104, with 100 being the average.
The cost of living index in Albany is 1.0x higher than the national average.
Albany ranks as the #98 cheapest in New York out of 340.
Albany ranks as the #3,585 cheapest out of 6,412 in the US.
The median home value in Albany is $186,500.
The median income in Albany is $52,583.
Table Of Contents
Albany's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Albany, NY?
According to the most recent data on the cost of living, Albany has an overall cost of living index of 104, which is 1.0x higher than the national index of 100.
Compared to New York, Albany has a cost of living index that's 0.8x lower than New York's index of 126.
The standard of living in Albany ranks as #98 most affordable out of the 340 places we measured in New York. By definition, that implies Albany ranks as the #242 most expensive place in the Empire State.
For more reading on life in Albany, check out:
- Living In Albany
- Albany Crime Report
- Search Homes For Sale In Albany, NY
In New York
In America
Albany Cost Of Living Vs. New York
Six factors go into calculating the cost of living index in Albany. Here is how it fairs on each of the criteria:
The Services index in Albany is 108.
The Groceries index in Albany is 113.
The Health index in Albany is 105.
The Housing index in Albany is 94.
The Transportation index in Albany is 102.
The Utilities index in Albany is 101.
| Living Expense | Albany | New York | National Average | |
|---|---|---|---|---|
| Overall | 104 | 126 | 100 | |
| Services | 108 | 110 | 100 | |
| Groceries | 113 | 104 | 100 | |
| Health | 105 | 105 | 100 | |
| Housing | 94 | 175 | 100 | |
| Transportation | 102 | 107 | 100 | |
| Utilities | 101 | 102 | 100 | |
Albany, NY Housing Cost Breakdown
Housing swings affordability the most between places in New York, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Albany is $186,500.
The Median Rent in Albany is $1,061.
The Median Income in Albany is $52,583.
The Home Value To Income in Albany is 3.5x.
The Rent To Monthly Income in Albany is 0.24x.
| Statistic | Albany | New York | United States |
|---|---|---|---|
| Median Home Value | $186,500 | $340,600 | $244,900 |
| Median Rent | $1,061 | $1,390 | $1,163 |
| Median Income | $52,583 | $75,157 | $69,021 |
| Home Value To Income | 3.5x | 4.5x | 3.5x |
| Rent To Monthly Income | 0.24x | 0.22x | 0.2x |
Median Home Value
Median Rent
Median Income
Albany, NY Costs By Category
Detailed Albany Services Costs Vs. New York
Detailed Albany Groceries Costs Vs. New York
Detailed Albany Health Costs Vs. New York
Detailed Albany Transportation Costs Vs. New York
Detailed Albany Utilities Costs Vs. New York
Albany SnackAbility
/10
Cost Of Living In Cities Around Albany
The cost of living varies in the cities and towns around Albany. Here's a quick look at the cost of living in the most populous nearby places:
Troy, NY has a cost of living index of 101, 1.0x Albany.
Rotterdam, NY has a cost of living index of 104, 1.0x Albany.
Niskayuna, NY has a cost of living index of 110, 1.1x Albany.
| City | Population | Cost Of Living | Vs. Albany |
|---|---|---|---|
| Troy, NY | 50,717 | 101 | 1.0x |
| Rotterdam, NY | 22,584 | 104 | 1.0x |
| Niskayuna, NY | 20,369 | 110 | 1.1x |
| Cohoes, NY | 17,931 | 101 | 1.0x |
| East Glenville, NY | 11,687 | 109 | 1.0x |
| Watervliet, NY | 10,363 | 97 | 0.9x |
| Rensselaer, NY | 9,330 | 100 | 1.0x |
| Colonie, NY | 7,792 | 107 | 1.0x |
| Westmere, NY | 7,730 | 111 | 1.1x |
| Scotia, NY | 7,305 | 98 | 0.9x |
