Cost of Living in Albany, MN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
101.4
100 = national avg
+1.4 vs national average
Living Wage (1 Adult)
$44,594
per year
Living Wage (Family of 4)
$105,404
per year
Cost Index by Category
Housing86.1
Food107.6
Transportation113.1
Healthcare106.1
Utilities101.8
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$919
per month
2 Bedroom
$1,206
per month
The overall cost of living index in Albany is 101.4, which is 1.4% above the national average. Housing costs are below the national average at an index of 86.1. A single adult needs to earn approximately $44,594 per year to cover basic expenses.