Cost of Living in Albany, NY
|Cost of Living in Albany, NY||Compared to State Average||Compared to National Average|
|Housing (Buy and Rent)||55% lower||11% higher|
|Utilities (Monthly)||1% lower||1% lower|
|Food||7% lower||12% higher|
|Healthcare||3% higher||6% higher|
|Goods & Services||3% lower||12% higher|
The cost of living in Albany, NY is 30% lower than the state average and 9% higher than the national average. Albany, NY housing is 11% more expensive than the U.S average, while utilities are about 1% less pricey. When it comes to basic necessities such as food and clothing, groceries are around 12% more in Albany, NY than in the rest of the country, while clothing costs around 12% more .
Healthcare services such as doctor check-ups and dentistry cost 6% more here compared to the U.S. average. At the same time, non-necessary expenses such as entertainment and grooming services are 12% pricier in Albany, NY.
Housing (Buy and Rent)
Housing is the most significant expense for most American households. The cost of living in a certain city takes into account both the price of rent and the price of a home. The average monthly rent in Albany is $1,509, while home prices circle around $452,309.
Both owning and renting come with utility expenses. These costs include basic services such as energy and telecommunications. In Albany, energy bills cost around $166.15 per month.
Food is the most important necessity and its cost varies around the country. This section includes the prices of everyday foods such as produce, meat and dairy. A bottle of milk costs about $2.25 in Albany, a dozen eggs go for around $1.88 and a pound of potatoes circles around $4.01.
The benchmark for this category is based on the prices of family doctor visits and specialized services such as optometry. In Albany, an optometry check-up costs around $142.29, while a dentist appointment is priced $120.88 on average.
Transportation expenses depend on multiple factors, with fuel being the most important. A gallon of gas is priced around $2.95 in Albany, while getting your tires balanced will run you about $48.27.
Goods & Services
The cost of clothing tells you how much more or less money you need to buy basic items such as jeans, shirts or slacks in a new city. A men's shirt costs around $36.49 here. Meanwhile, a pair of women's slacks will set you back around $44.50.
The cost of entertainment and everyday services is based on common expenses in each category. For a movie ticket in Albany, you should budget around $14.00 a month. When it comes to personal services, a haircut usually goes for $23.79, while dry cleaning costs about $18.84.
The cost of living also takes median household income into account, so you can estimate how much more or less you could be earning in a new city by comparing it to the income in your current area. In Albany, the median household income is $48,512.