Cost of Living in Albany, NY
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
110.4
100 = national avg
+10.4 vs national average
Living Wage (1 Adult)
$48,578
per year
Living Wage (Family of 4)
$114,821
per year
Cost Index by Category
Housing139.0
Food95.5
Transportation90.9
Healthcare96.4
Utilities105.1
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,417
per month
2 Bedroom
$1,702
per month
The overall cost of living index in Albany is 110.4, which is 10.4% above the national average. Housing costs are above the national average at an index of 139.0. A single adult needs to earn approximately $48,578 per year to cover basic expenses.