Housing costs in Albany?
A typical home costs
$147,100, which is 56.5% less expensive than the national average of
$338,100 and 64.4% less expensive than the average New York home, at
$413,600. Renting a two-bedroom unit in Albany costs
$1,100 per month, which is 43.9% cheaper than the national average of
$1,960 and 19.1% cheaper than the state average of
$1,310.
Can I afford Albany?
To live comfortably in Albany (zip 12202), New York, a minimum annual income of
$28,080 for a family, and
$36,000 for a single person is recommended.
What does A.I. say about Albany?
The cost of living in 12202 Albany, NY is quite reasonable compared to other cities. It has a low overall cost of living index (83.7), meaning that basic goods and services are significantly cheaper than other areas. Housing prices in particular are quite affordable, with the median home value being $190,500. Utilities such as electricity and water are also available at reasonable prices. The average monthly rent for an apartment is $1,112, much lower than many comparable cities. Groceries and other necessities tend to be close to or below the national average prices making it easy to stick to a budget in this area.