Albany, NY 12203 is an affordable area for renting a 2-bedroom apartment. The local rental rate is $1,450 per month, which is $20 higher than the US average of $1,430 per month. Additionally, the Grocery Cost Index in Albany is 103 versus the US average of 100. This means that overall prices are slightly higher than national averages, but still very reasonable for this area.
In terms of local businesses and amenities, Albany has plenty to offer. A few popular options include Whole Foods Market for groceries, Target for retail goods, and Crossgates Mall for shopping and entertainment. There are also many restaurants ranging from fast food to upscale dining options.
Overall, residents of Albany can enjoy living in a city with relatively inexpensive rent and access to all sorts of amenities. With a slight difference in cost indices when compared to the national averages, Albany remains an affordable option for locals looking to save money while still having access to all the necessary stores and services they need.
Albany (zip 12203) has an unemployment rate of 7.1%. The US average is 6.0%.
Albany (zip 12203) has seen the job market decrease by -3.6% over the last year. Future job growth over the next ten years is predicted to be 24.8%, which is lower than the US average of 33.5%.
Tax Rates for Albany (zip 12203)
- The Sales Tax Rate for Albany (zip 12203) is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Albany (zip 12203) 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 Albany (zip 12203)
- The average income of a Albany (zip 12203) resident is $41,390 a year. The US average is $37,638 a year.
- The Median household income of a Albany (zip 12203) resident is $71,001 a year. The US average is $69,021 a year.