Albany, NY Relocation Guide (2026)
Cost of living, housing, and income data for Albany, sourced from the US Census Bureau.
Salary needed to live in Albany ↓
Source: US Census Bureau ACS 5-Year (2022). Last updated July 2026.
Population in Albany, New York runs approximately 99,224. Median household income sits at $53,284, landing below the benchmark median we track across cities (-26%).
For renters and buyers alike, Albany offers a median home value of $225,800 (below the tracked median, -31%) and median rent of $1,098 monthly. Local property taxes and current mortgage rates will shape the real cost of buying.
Home values run about 4.2× median income in Albany, putting it squarely in the balanced range among the cities we cover. Home values near Albany rose 5.01% in the past year, a pace most would call steady rather than hot.
Salary needed to live in Albany
What it takes to afford Albany's median housing costs, and what that income leaves you after federal, FICA, and New York state taxes.
Renting at $1,098/mo in Albany would take 24.7% of your income.
$234/mo under the 30% guideline.
Buying the median home ($225,800) would take 27.1% of your income toward principal & interest.
$38/mo under the 28% guideline.
Based on the standard guideline that rent shouldn't exceed 30% of gross income.
Assumes a 20% down payment, a 30-year fixed loan at 7.03% (the current Freddie Mac national average as of September 2026), and the standard 28% front-end debt-to-income guideline. Principal and interest only — does not include property tax, insurance, or HOA fees, which vary significantly by location.
After-tax take-home pay
On the $43,920/year needed to rent comfortably in Albany:
State tax: $1,775 (4.0%)
Federal: $3,090 · FICA: $3,360 · Total tax: $8,225
Net pay: $35,695/year ($2,975/mo)
On the $51,662/year needed to buy at the median price in Albany:
State tax: $2,193 (4.2%)
Federal: $4,019 · FICA: $3,952 · Total tax: $10,164
Net pay: $41,498/year ($3,458/mo)
Take-home pay assumes a single filer taking the standard deduction, with no dependents and no income beyond wages, using 2026 federal tax brackets and FICA (Social Security and Medicare) rates. Only state income tax is included — local, county, or city income taxes (for example New York City, Philadelphia, or many Ohio and Maryland jurisdictions) are not factored in, and can add several more percentage points on top of these figures in some places.
Cost of housing in Albany
Median home value is $225,800 and median gross rent is $1,098/month. For buyers, monthly costs depend heavily on current mortgage rates — worth checking before you commit.
FHFA's county-level home price index for Albany rose 5.01% over the past year (as of 2025).
HUD's FY 2026 Fair Market Rent for a 2-bedroom unit in the surrounding county is $1,702/month.
Safety
Albany reported a violent crime rate of 832.3 per 100,000 residents in 2025, per FBI data.
Moving to Albany
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Cost estimates for moving between Albany and nearby popular destinations:
Frequently asked questions
- What is the cost of living in Albany, NY?
- Albany's key cost-of-living figures: $225,800 median home value, $1,098 median monthly rent, and $53,284 median household income, per the US Census Bureau ACS 5-Year (2022).
- How much do you need to earn to live comfortably in Albany?
- Using the standard 30%-of-income rule of thumb, affording Albany's median rent of $1,098/month takes an income of roughly $43,920 a year. See the full salary breakdown (renting and buying) for Albany.
- Is it better to rent or buy in Albany?
- In Albany, comfortably renting the median unit ($1,098/month) takes about $43,920 in annual income, while buying the median home ($225,800) takes roughly $51,662 a year in principal and interest alone (assumes 20% down, a 30-year fixed loan, and current mortgage rates).
- Is Albany safe?
- Per FBI Crime Data Explorer figures, Albany's violent crime rate was 832.3 per 100,000 residents in 2025.
Compare Albany to similar cities
- New York vs Albany: Cost of Living & Housing Comparison
- Albany vs Buffalo: Cost of Living & Housing Comparison
Cities with a similar cost of living
Matched on median rent and household income within 15% of Albany's.