Cost of Living in Albany County, New York
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
These figures are county medians, not a personal budget. Use them to frame rent, ownership, and income tradeoffs, then account for household size, commute, financing, insurance, taxes, debt, and local availability before making a decision.
How Albany County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Albany County ranks #2,805 of 3,142 counties for affordability (bottom 11%)
Sourced county brief
Albany County Median Gross Rent Estimated at $1,313 Per Month
Median gross rent in Albany County was estimated at $1,313 per month. This figure is $145 above the unweighted county mean for New York of $1,168. According to ACS table B25071, the official median gross rent as a percentage of household income (GRAPI) is 28.7%. This official GRAPI value is 1.1 percentage points below the state unweighted county mean of 29.8%. For homeowners, the median home value was $294,600, which is higher than the state unweighted county mean of $281,200. Median selected monthly owner costs for all owner-occupied units were $1,520, compared to the unweighted county mean of $1,352. The median renter-household income was $54,733. These statistics represent a snapshot of housing costs and income levels from the U.S. Census Bureau ACS 2020-2024 five-year estimates. See ACS table B25071 for the underlying estimate.
Source record
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25064 Median Gross Rent
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25071 GRAPI
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25077 Median Home Value
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25088 Selected Monthly Owner Costs
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25119 Household Income by Tenure
Data version acs5-2020-2024 · Method cost-brief-v1
Cost of Living Advisory: Albany County
Affordability Verdict
ACS B25071 estimates median gross rent at 28.7% of renter household income in Albany County, which is below the 30% affordability benchmark. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $1,313 per month; median selected monthly owner costs are $1,520. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $52,520 in annual gross income would allocate 30% to the county's median gross rent. This is a reproducible illustration, not evidence that a particular household can afford housing.
Regional Context
The New York unweighted mean of county median rents is $1,168 per month. Albany County's $1,313 median is 12.4% above that comparison value.
Data version acs5-2020-2024 · Method cost-advisory-v2
Affordability Calculator
See how your income compares to housing costs in Albany County
Rent Burden
18.5%
of gross income
Max Housing (28% Rule)
$1,991
per month
Owner Cost Burden
21.4%
of gross income
The median home in Albany County may be a stretch
Median home value is $294,600. Estimated monthly cost: $2,352 vs. your max of $1,991.
Rent Affordability Guide
Income Needed Calculator
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2020-2024). Data is informational only and is not personalized financial advice.
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