Albany, VT is a small yet lively community located in northeastern Vermont. It is an ideal place to live for those looking for a more relaxed pace of life with access to amenities such as grocery stores and local cafes. Compared to the national average, Albany residents enjoy lower rent for 2 bedroom homes at $950 versus the US average of $1,430. Local businesses such as Sumner & Ferris General Store, Ace Hardware, and Willey’s Store cater to the needs of locals. The Grocery Cost Index in Albany is 105 versus 100 in the US making food items slightly more expensive than elsewhere.
Albany has an unemployment rate of 2.9%. The US average is 6.0%.
Albany has seen the job market increase by 0.3% over the last year. Future job growth over the next ten years is predicted to be 27.0%, which is lower than the US average of 33.5%.
Tax Rates for Albany
- The Sales Tax Rate for Albany is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Albany is 6.8%. 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 $22,380 a year. The US average is $28,555 a year.
- The Median household income of a Albany resident is $60,938 a year. The US average is $69,021 a year.