Albany, OK is a great place for people to live that are looking for an affordable cost of living. According to the data provided, the average two bedroom rent in Albany is $860 per month compared to the US average of $1,430. The grocery cost index in Albany is 94 versus 100 in the US which shows how much cheaper groceries are in Albany than other areas. This makes it a great option for those on a tight budget. The area also offers many job opportunities within local businesses such as Albany Fabrication & Machine Design, Inc., K & H Excavating, and R&J Mechanical Services. Additionally, there are plenty of recreation activities available thanks to locations like the Cross Timbers Golf Course and Lake Murray State Park.
Albany has an unemployment rate of 3.6%. The US average is 6.0%.
Albany has seen the job market increase by 2.8% over the last year. Future job growth over the next ten years is predicted to be 56.7%, which is higher than the US average of 33.5%.
Tax Rates for Albany
- The Sales Tax Rate for Albany is 9.4%. The US average is 7.3%.
- The Income Tax Rate for Albany is 5.0%. 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 $24,291 a year. The US average is $28,555 a year.
- The Median household income of a Albany resident is $22,292 a year. The US average is $69,021 a year.