Cost of Living in Albany, NY
Albany-Schenectady-Troy, NY — prices, rents and what jobs really pay here after taxes.
Salary comparison calculator
What would you need to earn in Albany, NY to keep the same lifestyle — after taxes — as in another city?
How expensive is Albany, NY?
With a price level of 99.6 (U.S. average = 100), Albany, NY is close to the national average. In detail, housing costs run 3% above average; everyday goods cost about the same as the national average; utilities run 34% above average; other services such as healthcare and dining are 2% below average. The biggest difference from the national average is in utilities.
Prices in Albany, NY vs. the U.S. average
| Category | Index (U.S. = 100) | Difference |
|---|---|---|
| All items | 99.6 | −0.4% |
| Housing | 102.6 | +2.6% |
| Goods | 99.7 | −0.3% |
| Utilities | 134.0 | +34.0% |
| Other services | 97.8 | −2.2% |
Source: BEA Regional Price Parities, 2024.
Rent in Albany, NY
| Unit | Monthly rent | Income needed (30% rule) |
|---|---|---|
| Studio | $1,217 | $48,680/yr |
| 1 bedroom | $1,417 | $56,680/yr |
| 2 bedrooms | $1,702 | $68,080/yr |
| 3 bedrooms | $2,041 | $81,640/yr |
| 4 bedrooms | $2,253 | $90,120/yr |
HUD Fair Market Rents, FY2026, population-weighted across the metro's counties.
Salary needed to live in Albany, NY
To keep the same standard of living as in an average-priced U.S. city, you would need to earn roughly:
| Salary in an average U.S. city | Equivalent in Albany, NY | Take-home here |
|---|---|---|
| $40,000 | $39,800 | $32,607 |
| $60,000 | $59,700 | $47,522 |
| $80,000 | $79,700 | $61,192 |
| $100,000 | $99,600 | $74,062 |
| $150,000 | $149,300 | $105,544 |
Scaled by the BEA price level (pre-tax). Take-home: single filer, New York 2026 taxes. For a tax-aware comparison with a specific city, use the calculator above.
A monthly budget on the median wage
A single worker earning Albany, NY's median wage of $58,460 takes home about $3,883 a month. A typical one-bedroom rents for $1,417, which is 36% of take-home pay — above the 30% guideline that financial planners suggest. That leaves about $2,466 a month for everything else.
Take-home pay in Albany, NY
- Federal income tax$4,835
- Social Security (6.2%)$3,625
- Medicare (1.45%)$848
- New York income tax$2,560
- Take-home pay$46,593
Marginal rate: 12% federal + 5.40% state
Highest-paying jobs in Albany, NY
*In U.S.-average dollars after adjusting for local prices.
Pay and living costs in New York cities
Half of New York’s 9,688,000 workers earn less than $59,670 a year and half earn more; the middle 50% earn $41,160–$98,810 (BLS, May 2025). Prices vary a lot within the state: Albany, NY stretches a paycheck furthest, while Kiryas Joel, NY is the costliest.
| Metro area | Median pay | Price level | 1-BR rent | Rent share | Left after rent / mo | Buying power* |
|---|---|---|---|---|---|---|
| New York, NY | $61,430 | 112.6 | $2,378 | 58% | $1,690 | $43,370 |
| Buffalo, NY | $50,790 | 95.8 | $1,139 | 33% | $2,265 | $42,615 |
| Rochester, NY | $51,210 | 97.0 | $1,256 | 37% | $2,174 | $42,417 |
| Albany, NY | $58,460 | 99.6 | $1,417 | 36% | $2,466 | $46,796 |
| Syracuse, NY | $52,990 | 95.7 | $1,123 | 32% | $2,418 | $44,383 |
| Kiryas Joel, NY | $50,990 | 109.4 | $1,549 | 45% | $1,867 | $37,464 |
| Utica, NY | $48,970 | 92.7 | $926 | 28% | $2,364 | $42,599 |
| Binghamton, NY | $49,460 | 92.9 | $868 | 26% | $2,453 | $42,910 |
| Kingston, NY | $50,020 | 100.7 | $1,386 | 41% | $1,970 | $39,984 |
| Glens Falls, NY | $49,090 | 94.9 | $1,066 | 32% | $2,231 | $41,711 |
| Ithaca, NY | $58,130 | 103.3 | $1,466 | 38% | $2,396 | $44,858 |
| Watertown, NY | $47,600 | 87.7 | $1,071 | 33% | $2,133 | $43,851 |
| Elmira, NY | $47,850 | 94.4 | $978 | 30% | $2,242 | $40,934 |
*Yearly take-home pay (on each metro’s median wage, single filer) in U.S.-average dollars. Price level: BEA RPP 2024 (U.S. = 100). Rent: HUD FY2026 one-bedroom fair market rent.
Albany, NY vs. similar-size cities
| Metro area | Price level | 1-BR rent | Median wage | Jobs |
|---|---|---|---|---|
| Albany, NY | 99.6 | $1,417 | $58,460 | 449,410 |
| Urban Honolulu, HI | 111.0 | $2,016 | $57,220 | 446,380 |
| New Orleans, LA | 92.6 | $1,105 | $47,290 | 445,550 |
| Tulsa, OK | 89.2 | $976 | $46,670 | 458,730 |
| Greenville, SC | 93.3 | $1,155 | $46,580 | 434,900 |
| Knoxville, TN | 92.6 | $1,126 | $47,080 | 424,600 |
| Fresno, CA | 102.2 | $1,315 | $46,910 | 476,890 |
Frequently asked questions
Is Albany, NY expensive to live in?
According to the Bureau of Economic Analysis, overall prices in the Albany-Schenectady-Troy, NY metro area are 99.6% of the U.S. average, with housing at 102.6%. It is the #94 most expensive of 387 metro areas we track.
What salary do you need to live in Albany, NY?
To match the buying power of a $60,000 salary in an average-priced U.S. city you would need about $59,740 in Albany, NY (before tax differences). The median wage across all jobs here is $58,460.
Can you afford Albany, NY on the median wage?
A single worker on the $58,460 median wage takes home about $3,883 a month after 2026 taxes; a one-bedroom at $1,417 would take 36% of that.
How much is rent in Albany, NY?
HUD’s FY2026 fair market rents for Albany, NY are $1,217 for a studio, $1,417 for one bedroom, $1,702 for two bedrooms and $2,041 for three bedrooms, including utilities.
Top salaries by field in Albany, NY
Management Occupations
- Financial Manager — $150,590
- General and Operations Manager — $111,130
Business and Financial Operations Occupations
- Project Management Specialist — $109,850
- Accountant and Auditor — $84,660
- Business Operations Specialists, All Other — $83,910
- Management Analyst — $83,690
- Human Resources Specialist — $77,000
Computer and Mathematical Occupations
- Software Developer — $127,910
- Computer Systems Analyst — $86,890
Legal Occupations
- Lawyer — $131,310
Educational Instruction and Library Occupations
- Secondary School Teachers, Except Special and Career/Technical Education — $80,620
- Elementary School Teachers, Except Special Education — $79,240
- Teaching Assistants, Except Postsecondary — $38,110
Healthcare Practitioners and Technical Occupations
- Registered Nurse — $99,970
Healthcare Support Occupations
- Nursing Assistant — $40,160
- Home Health and Personal Care Aide — $37,590
Protective Service Occupations
- Security Guard — $43,250
Food Preparation and Serving Related Occupations
- Waiter and Waitress — $48,980
- First-Line Supervisor of Food Preparation and Serving Workers — $45,330
- Cooks, Restaurant — $39,610
- Fast Food and Counter Worker — $34,060
Building and Grounds Cleaning and Maintenance Occupations
- Landscaping and Groundskeeping Worker — $41,290
- Janitors and Cleaners, Except Maids and Housekeeping Cleaners — $37,810
Personal Care and Service Occupations
- Childcare Worker — $36,170
Sales and Related Occupations
- Sales Representatives, Wholesale and Manufacturing, Except Technical and Scientific Products — $70,360
- Sales Representatives of Services, Except Advertising, Insurance, Financial Services, and Travel — $68,050
- First-Line Supervisor of Retail Sales Workers — $56,470
- Retail Salesperson — $35,420
- Cashier — $34,290
Office and Administrative Support Occupations
- Executive Secretary and Executive Administrative Assistant — $74,730
- First-Line Supervisor of Office and Administrative Support Workers — $73,360
- Bookkeeping, Accounting, and Auditing Clerks — $53,540
- Secretaries and Administrative Assistants, Except Legal, Medical, and Executive — $49,330
- Office Clerks, General — $46,010
- Customer Service Representative — $45,350
- Receptionist and Information Clerk — $39,790
Construction and Extraction Occupations
- Construction Laborer — $52,940
Installation, Maintenance, and Repair Occupations
- Maintenance and Repair Workers, General — $49,490
Transportation and Material Moving Occupations
- Heavy and Tractor-Trailer Truck Driver — $60,720
- Laborers and Freight, Stock, and Material Movers, Hand — $43,640
- Light Truck Driver — $41,360
- Stocker and Order Filler — $38,220