Colonie, NY is a vibrant and diverse community located just outside Albany. It is home to many large businesses such as General Electric, Regeneron Pharmaceuticals, and the University at Albany. It also boasts numerous small businesses and mom-and-pop shops offering unique goods and services. In addition to these local employers, Colonie is known for its affordability; 2 bedroom rent in Colonie is about $1,470 per month whereas the US average is $1,430. The cost of groceries is also lower, with a grocery cost index of 104 versus 100 in the US. All in all, Colonie provides an affordable living environment that many people enjoy.
Colonie has an unemployment rate of 5.7%. The US average is 6.0%.
Colonie has seen the job market increase by 0.5% over the last year. Future job growth over the next ten years is predicted to be 26.2%, which is lower than the US average of 33.5%.
Tax Rates for Colonie
- The Sales Tax Rate for Colonie is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Colonie is 6.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Colonie
- The average income of a Colonie resident is $35,940 a year. The US average is $28,555 a year.
- The Median household income of a Colonie resident is $89,977 a year. The US average is $69,021 a year.