Cost of living index

Albany, NY

99.6 / 100

Living in Albany, NY is 0.4% cheaper than the US average — the #94 of 387 highest nationally.

Median rent: $1,230/mo

Median home value: $268,400

Figures — including the cost index, median rent, and median home value — cover the wider Albany, NY metropolitan area, not individual neighbourhoods or city boundaries.

Seasonal weather

Winter

36° / 19°F

(2° / -7°C)

8.1 in precip

Spring

59° / 37°F

(15° / 3°C)

9.6 in precip

Summer

82° / 60°F

(28° / 16°C)

12.4 in precip

Fall

62° / 42°F

(17° / 6°C)

10.6 in precip

30-year climate normals (1991–2020) from ALBANY AP, via NOAA.

What it costs to live in Albany, NY

The Albany, NY metro area has an overall price level of 99.6 compared with the national average of 100, meaning everyday costs run about 0.4% lower than a typical US metro. Housing tells the sharper story: at 102.6 it is 2.6% above the national average. Housing rents are often one of the largest sources of difference between metro areas, so this figure can have a significant impact when comparing locations.

Cost breakdown

Overall#94 of 387

99.6

Goods#80 of 387

99.7

Housing rents#88 of 387

102.6

Utilities#44 of 387

134.0

Other services#253 of 387

97.8

Albany, NY is moved up the most by utilities, at 134.0 vs a US average of 100, while the closest to average is goods.

How Albany, NY compares

Other metros in New York

Binghamton, NY92.9 Buffalo, NY95.8 Elmira, NY94.4 Glens Falls, NY94.9 Ithaca, NY103.3 Kingston, NY100.7 Kiryas Joel, NY109.4 New York, NY112.6

See all 13 metros in New York →See the cheapest and most expensive US metros →

Data source

Figures on this page come from the US Bureau of Economic Analysis (BEA) Regional Price Parities dataset, 2024 — the most recent year published. An index of 100 marks the national average; a metro above 100 has higher prices than a typical US metro, below 100 lower. Median rent and median home value are from the US Census Bureau’s American Community Survey (ACS) 2023 5-year estimates, and seasonal weather is from NOAA’s 1991–2020 climate normals. These are regional figures only, not a complete personal budget — they don’t account for individual spending habits, taxes, or household circumstances. See the full methodology for how the index and salary-equivalent estimates are calculated.

Compare My City is an independent project and is not operated by, endorsed by, or affiliated with the Bureau of Economic Analysis, the Census Bureau, or NOAA.

Common questions

Is Albany, NY an expensive place to live?

Albany, NY has an overall cost-of-living index of 99.6, where 100 is the US average. That makes it about 0.4% cheaper than the country as a whole.

Is housing expensive in Albany, NY?

Housing rents in Albany, NY score 102.6 against a US average of 100 — roughly 2.6% above average. Housing rents are often the main driver of differences in overall price levels between metro areas.

How does Albany, NY compare to the US average cost of living?

Overall prices in Albany, NY sit at 99.6 versus 100 for the US average, with housing at 102.6. Figures come from the US Bureau of Economic Analysis for 2024.