Albany, OH is an attractive option for those looking for a city with affordability. The cost of living is lower than the national average, making it easier to rent and buy homes. 2 Bedroom rents in Albany are only $910 compared to the US average of $1430. In addition, grocery costs are also lower in Albany as evidenced by its Grocery Cost Index of 102 versus 100 nationally.
Albany boasts a vibrant economy with some top employers such as Honda, Westinghouse Electric Company, The Ohio State University at Marion and Diebold Nixdorf. Local amenities also include attractions like the Harding Home Presidential Site and gorges like Great Seal State Park for outdoor enthusiasts. Shopping centers such as Indian Mound Mall offer plenty of options for shoppers while restaurants from vegan spots to classic diners can be found downtown and throughout nearby neighborhoods.
Albany has an unemployment rate of 4.3%. The US average is 6.0%.
Albany has seen the job market increase by 0.2% over the last year. Future job growth over the next ten years is predicted to be 27.2%, which is lower than the US average of 33.5%.
Tax Rates for Albany
- The Sales Tax Rate for Albany is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Albany is 3.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Albany
- The average income of a Albany resident is $19,611 a year. The US average is $28,555 a year.
- The Median household income of a Albany resident is $57,303 a year. The US average is $69,021 a year.