Cost of Living in Albany, NY, United States

Updated On June 16, 2023

How Much Does It Cost to Live In Albany, NY?

If you are moving to Albany and do not know what your life there would be like, it is advisable to look at the possible expenses and salaries that might await you and then decide what essential and non-essential expenses are in your life.

That way you will get control of your finances, as meeting your financial needs is very important for a decent living.

So, deliberate thoroughly on data related to housing costs, food prices, and other living expenses before coming to Albany.

Cost of Living Index:
* Based on Research & User Data


On a typical weekend night, people usually like to entertain in local restaurants with friends or family.

The city has places for each person’s taste and pocket, from inexpensive eateries to posh restaurants in the city center.

Do not get surprised by the high prices of alcohol here.



Even though you will find affordable housing in the country, other expenses will also take a lot of money and are of the utmost importance for a living.

Buying everyday products, fruits, vegetables, and other groceries would take over 35% of your monthly salary.



If you drive, you can expect to spend much more than taking the public transport system.

It is not just the price of gasoline that has to be paid, which is pretty affordable, but also insurance, maintenance, and parking.

Paying only $32 monthly for a bus would keep your car in a garage.



Whether you rent or buy your place of living, you will have to cover the cost of utilities which are not included in the rent.

Internet access is pretty expensive, while all the other utilities are around the national average and are considered reasonable.

Sports and leisure


Albany is a place where people do have options for entertainment because fitness club prices are approximately $45 per month.

On the other hand, a costly sport to practice would be tennis, as court rents are pretty expensive.

Clothing and shoes


This is a city where not so many people come for shopping as in some other cities in the United States, which greatly affects the prices.

Generally speaking, designer clothing is less expensive than in the United Kingdom.

Of course, you can always buy it at some of the cheaper stores in the city.

Rent per month


Taking the rent prices into account, the cost of living in Albany is neither too high nor too low, as it is definitely lower than in the capital.

If you live in the city center, however, your housing expenses would be even worse, so you should think about finding a place away from the crowds.

Cost of Living Averages Table for Albany, NY

*Note: All prices are indicated in USD.
Average Restaurant Prices
Meal (Inexpensive Restaurant)$12
Domestic Beer (0.5 Liter)$4
Water (0.33 Liter)$1.52
Average Market Prices
Milk (1 Liter)$0.79
Loaf Bread (500g)$3.23
Eggs (12)$5.13
Average Transport Prices
One Way Ticket$1.75
Monthly Pass$32.50
Average Utilities Prices
Basic (Water, Electricity, Garbage, Heating, Cooling)$167.32
1 min. of Prepaid Mobile Tariff Local$0.10
Internet (Unlimited Data, Cable/ADSL)$65.14
Average Leisure Prices
Fitness Club, Monthly Fee for 1 Adult$45
Tennis Court Rent (1 Hour)$42
Cinema, 1 Seat, International Release$12.50
Average Clothing Prices
1 Pair of Jeans (Levis 501 Or Comparable)$30
1 Summer Dress in a Chain Store (Zara, etc...)$35
1 Pair of Adidas Walking Shoes (Mid-Range)$69.83
Average Rent Prices
Apartment (1 bedroom) in City Center$1043.75
Apartment (1 bedroom) Outside of Center$1022.50
Apartment (3 bedrooms) in City Center$1800.00

How Does the Average Person Spend Their Money in Albany, NY?

The high cost of housing and rent prices in the United States is known as the main concern of people wanting to reside there.

The average rent depends on the location, amenities, and size of the apartment, and those in the suburbs are generally cheaper.

Other major costs are food, transportation, and restaurants, which are frequently visited, while utilities and entertainment are not such an expense.

Very little money is spent on clothing, less than 2%.

Average Costs Breakdown


Albany, NY: Average Salary, Minimum Wage & Mortgages

Besides the spending of its residents, you would certainly benefit from the data related to some additional financial questions.

The average salary is pretty high here, and in combination with the low rents, it makes living conditions better than in some less developed cities.

Furthermore, job opportunities are rising, meaning more employment in the city.

If you have enough financial assets to buy property here, you can do it and the mortgage rate would be 4.3%.

People with the minimum salary would have to struggle to make ends meet.

Average Salary$5077.78
Minimum Wage$1256.7
Mortgage Interest Rate5.43%

Albany Safety Overview

READ THE FULL REPORT: Albany Safety Review

Safety Index:

Cost of Living by City in Albany, NY

CityCost of Living Index
Albuquerque, NM72.4
Anchorage, AK72.4
Ann Arbor, MI72.4
Arlington, TX72.4
Asheville, NC72.4
Atlanta, GA72.4
Austin, TX72.4
Bakersfield, CA72.4
Baltimore, MD72.4
Bellevue, WA72.4
Bellingham, WA72.4
Berkeley, CA72.4
Birmingham, AL72.4
Boise, ID72.4
Boston, MA72.4
Boulder, CO72.4
Brooklyn, NY72.4
Buffalo, NY72.4
Burlington, VT72.4
Charleston, SC72.4
Charlotte, NC73.33
Chattanooga, TN72.4
Chicago, IL72.4
Cincinnati, OH72.4
Cleveland, OH72.4
Columbia, SC72.4
Columbus, OH72.4
Dallas, TX72.4
Dayton, OH72.4
Denver, CO72.4
Des Moines, IA72.4
Detroit, MI72.4
El Paso, TX72.4
Eugene, OR72.4
Everett, WA72.4
Fayetteville, AR72.4
Fort Myers, FL72.4
Fort Wayne, IN72.4
Fort Worth, TX72.4
Fresno, CA74.2
Gainesville, FL74.2
Grand Rapids, MI74.2
Greensboro, NC74.2
Hartford, CT74.2
Honolulu, HI74.2
Houston, TX74.2
Huntsville, AL74.2
Indianapolis, IN74.2
Irvine, CA74.2
Jacksonville, FL74.2
Jersey City, NJ74.2
Kansas City, MO74.2
Knoxville, TN74.2
Las Vegas, NV74.2
Lexington, KY74.2
Little Rock, AR74.2
Long Beach, CA74.2
Los Angeles, CA74.2
Louisville, KY74.2
Lubbock, TX74.2
Madison, WI74.2
Memphis, TN74.2
Miami, FL74.2
Milwaukee, WI74.2
Minneapolis, MN74.2
Nashville, TN74.2
New Orleans, LA74.2
New York, NY74.2
Oakland, CA74.2
Oklahoma City, OK74.2
Olympia, WA74.2
Orlando, FL74.2
Peoria, IL72.4
Philadelphia, PA72.4
Phoenix, AZ72.4
Pittsburgh, PA72.4
Portland, ME72.4
Portland, OR72.4
Raleigh, NC72.4
Reno, NV72.4
Richmond, VA74.2
Rochester, NY74.2
Sacramento, CA74.2
Saint Louis, MO74.2
Saint Paul, MN74.2
Saint Petersburg, FL74.2
Salem, OR74.2
Salt Lake City, UT74.2
San Antonio, TX74.2
San Diego, CA74.2
San Francisco, CA74.2
San Jose, CA74.2
Santa Barbara, CA74.2
Santa Rosa, CA74.2
Seattle, WA74.2
Spokane, WA74.2
Springfield, MO74.2
Syracuse, NY74.2
Tacoma, WA74.2
Tallahassee, FL74.2
Tampa, FL74.2
Toledo, OH74.2
Tucson, AZ74.2
Tulsa, OK74.2
Vancouver, WA74.2
Virginia Beach, VA74.2
Washington, DC74.2
West Palm Beach, FL74.2
Wichita, KS74.2

Where to Next?

See these related locations:

Or, browse the country/city indexes:

Cost of Living - Country Index Cost of Living - City Index

Share Your Experience

Facebook Pinterest