Cost of Living in Albany, NY
| Cost of Living in Albany, NY | Compared to State Average | Compared to National Average |
|---|---|---|
| Housing (Buy and Rent) | 42% lower | 4% higher |
| Utilities (Monthly) | 5% lower | 1% lower |
| Food | 0% | 7% higher |
| Healthcare | 3% lower | 2% higher |
| Transportation | 6% lower | 1% higher |
| Goods & Services | 3% lower | 9% higher |
The cost of living in Albany, NY is 19% lower than the state average and 5% higher than the national average. Albany, NY housing is 4% 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 9% more in Albany, NY than in the rest of the country, while clothing costs around 9% more .
Healthcare services such as doctor check-ups and dentistry cost 2% more here compared to the U.S. average. At the same time, non-necessary expenses such as entertainment and grooming services are 9% pricier in Albany, NY.
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 $1,273, while home prices circle around $481,131.
Both owning and renting come with utility expenses. These costs include basic services such as energy and telecommunications. In Albany, energy bills cost around $174.42 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 $3.05 in Albany, a dozen eggs go for around $3.29 and a pound of potatoes circles around $4.15.
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 $137.30, while a dentist appointment is priced $132.35 on average.
Transportation expenses depend on multiple factors, with fuel being the most important. A gallon of gas is priced around $4.03 in Albany, while getting your tires balanced will run you about $50.73.
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 $38.00 here. Meanwhile, a pair of women's slacks will set you back around $43.76.
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 $13.16 a month. When it comes to personal services, a haircut usually goes for $27.36, while dry cleaning costs about $20.44.
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 $54,736.