Housing costs in Albany?
A typical home costs
$275,900, which is 18.4% less expensive than the national average of
$338,100 and 33.3% less expensive than the average New York home, at
$413,600. Renting a two-bedroom unit in Albany costs
$1,450 per month, which is 26.0% cheaper than the national average of
$1,960 and 9.7% more than the state average of
$1,310.
Can I afford Albany?
To live comfortably in Albany (zip 12203), New York, a minimum annual income of
$52,920 for a family, and
$47,600 for a single person is recommended.
What does A.I. say about Albany?
The cost of living in 12203 Albany, NY is quite reasonable. The overall cost of living index for the city is 102.0, which is slightly higher than the national average of 100. Housing costs make up a large portion of this index; median home prices in 12203 are around $187,000, and the median rent for a two-bedroom apartment is around $1,150. Other costs such as groceries and utilities are also slightly higher than the national average but remain within an affordable range for many families. Overall, the cost of living in Albany is quite reasonable when compared to other areas in New York State.