Cost of living in Albany: rent, homes and salary
The figure for the cost of living in Albany sits 0.4% below the US average. At 99.6, the 2024 BEA regional price parity (RPP) covers the Albany, NY metro area, with the US at 100 and housing on its own at 102.6.
- Overall prices
- 99.6US = 100, BEA 2024
- Price level for housing
- 102.6 for rents, with the US at 100.
Cost of living index for Albany
A regional price parity compares the cost of a basket of the same goods and services in a single place against the US average. That average is set at 100. Albany belongs to the Albany-Schenectady-Troy, NY metro area. BEA prices the whole area as one. Utilities are the item furthest from the US average, at 134.0, or 34.0% above the US.
| Price level, US = 100 | Albany, NY metro | New York | Metro against the US |
|---|---|---|---|
| All items | 99.6 | 107.9 | −0.4% |
| Goods | 99.7 | 107.3 | −0.3% |
| Housing (rents) | 102.6 | 122.2 | +2.6% |
| Utilities | 134.0 | 134.4 | +34.0% |
| Other services | 97.8 | 104.1 | −2.2% |
Source: Bureau of Economic Analysis (BEA), U.S. regional price parities for metro areas and states, 2024. BEA regional price parities
Albany rent
For Albany, the Zillow Observed Rent Index (ZORI) puts the typical asking rent at $1,664 each month, covering homes listed now. That is +5.3% compared with a year ago. In the US, the figure is $1,932. Census median gross rent counts every renting household, not only new leases, and comes to $1,317. One year of asking rent equals 31% of the median household income.
| Rent | Albany | United States |
|---|---|---|
| Typical asking rent, Zillow ZORI | $1,664 | $1,932 |
| Asking rent, 12-month change | +5.3% | |
| Median gross rent, Census ACS 2024 | $1,317 | $1,487 |
| Asking rent for one year, as a percentage of median income | 31% | 28% |
Zillow Observed Rent Index, plus Census Bureau American Community Survey 2024 with one-year estimates.
Albany home prices
Zillow Home Value Index (ZHVI) puts a typical Albany home at $331,504 in September 2026. The index measures what a home typical of the middle of the market is worth. The yearly change is +4.2%, and the US figure is $366,157. That equals 5.1 years of median household income, compared with 4.5 for the US.
| Home prices | Albany | United States |
|---|---|---|
| Typical home value, September 2026 | $331,504 | $366,157 |
| 12-month change | +4.2% | +1.2% |
| 10-year change | +76.8% | +77.4% |
| Price to income (years of median income) | 5.1 | 4.5 |
| Price to rent (years of asking rent) | 16.6 | 15.8 |
The Albany housing market page has the price chart since 2000, a forecast, and days on market.
The salary needed to live in Albany
The Albany salary that buys the same things your pay buys now depends on two answers: where you live and how much you earn.
- Moving from
- Salary
The method, and each city placed next to another: cost of living comparison.
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Albany cost of living compared with other cities
| City | Overall prices | Housing | Typical rent figure | Value of a typical home |
|---|---|---|---|---|
| Albany | 99.6 | 102.6 | $1,664 | $331,504 |
| New York City | 112.6 | 148.6 | $4,089 | $825,854 |
| Buffalo | 95.8 | 81.0 | $1,421 | $244,068 |
| Rochester, New York | 97.0 | 87.5 | $1,454 | $240,168 |
| Syracuse | 95.7 | 80.7 | $1,566 | $223,201 |
| Los Angeles | 113.6 | 170.4 | $2,772 | $927,891 |
| Chicago | 103.6 | 112.0 | $2,311 | $334,108 |
| Houston | 98.6 | 104.5 | $1,544 | $259,465 |
| Phoenix | 103.3 | 121.2 | $1,571 | $404,067 |
Price levels come from BEA regional price parities in 2024, with US = 100. Rent comes from Zillow ZORI. Home values: Zillow ZHVI, September 2026.
All cities ranked: cost of living comparison. Every state: cost of living in each state.