The Albany-Schenectady-Troy, NY Metro Area is an ideal place to live because it offers great affordability and convenience. The average 2 bedroom rent in the area is $1,310 which is cheaper than the US average of $1,430. This means that a person can save money on rent while still living close to the city. Additionally, grocery cost index in the area is 102 compared to 100 in the US. This means that groceries are slightly more affordable here than elsewhere around the country. Notable local companies include Price Chopper Supermarkets, Curtis Lumber & Home Centers and Golub Corporation.
Albany-Schenectady-Troy Metro Area has an unemployment rate of 5.7%. The US average is 6.0%.
Albany-Schenectady-Troy Metro Area has seen the job market increase by 0.6% over the last year. Future job growth over the next ten years is predicted to be 26.5%, which is lower than the US average of 33.5%.
Tax Rates for Albany-Schenectady-Troy Metro Area
- The Sales Tax Rate for Albany-Schenectady-Troy Metro Area is 7.7%. The US average is 7.3%.
- The Income Tax Rate for Albany-Schenectady-Troy Metro Area is 6.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Albany-Schenectady-Troy Metro Area
- The average income of a Albany-Schenectady-Troy Metro Area resident is $32,069 a year. The US average is $28,555 a year.
- The Median household income of a Albany-Schenectady-Troy Metro Area resident is $77,758 a year. The US average is $69,021 a year.