Albany, Louisiana is a small city located in the northeastern part of the state. The city is home to a variety of local businesses that cater to its residents, such as restaurants, grocery stores, banks, and retail stores. Albany LA has a cost of living index that is lower than the national average, making it an affordable place to live for many people. Renting a two bedroom apartment in Albany costs $840 per month on average while in the US it averages $1,430. Additionally, the grocery cost index in Albany is 95 compared to 100 in the US, further emphasizing its affordability. With its low cost of living index and reasonable rent prices, it's no wonder why so many people choose to call this town home.
Albany has an unemployment rate of 4.2%. The US average is 6.0%.
Albany has seen the job market increase by 1.3% over the last year. Future job growth over the next ten years is predicted to be 29.8%, which is lower than the US average of 33.5%.
Tax Rates for Albany
- The Sales Tax Rate for Albany is 8.5%. The US average is 7.3%.
- The Income Tax Rate for Albany is 6.0%. 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 $22,002 a year. The US average is $28,555 a year.
- The Median household income of a Albany resident is $68,231 a year. The US average is $69,021 a year.