If you are moving to Albany and you do not know what your life there would be, it is advisable to take a look at the possible expenses and salaries which might await you and then decide what essential and non-essential expenses are in your life.
That way you will get control of your finances, as meeting your financial needs is very important for a decent living.
So, deliberate thoroughly on data related to housing costs, food prices, and other living expenses before coming to Albany.
On a typical weekend night, people usually like to entertain in local restaurants with friends or family.
Throughout the city, there are places for each person’s taste and pocket, from inexpensive eateries to posh restaurants in the city center.
Do not get surprised with high prices of alcohol here.
Even though you will find the affordable housing in the country, there are other expenses which will also take quite a lot of money and are of the utmost importance for a living.
Buying of every-day products, fruits, vegetables and other groceries would take you more than 35% of monthly salary.
If you drive, you can expect to spend a lot more than if you take public transport system.
It is not just the price of gasoline that has to be paid, which is by the way pretty affordable, but also insurance, maintenance, parking.
Paying only $60 per month for a bus would keep your car in a garage.
Whether you rent or buy your place of living, you will have to cover the cost of utilities which are not included in the rent.
The Internet access is pretty expensive, while all the other utilities are around the national average and are considered reasonable.
SPORTS & LEISURE
Albany is a place where people do have options for cheap entertainment, due to the fact that fitness club prices are pretty low, approximately $20 per month.
On the other hand, a very expensive sport to practice would be tennis, as court rents are quite expensive.
CLOTHING & SHOES
This is a city where not so many people come for shopping as it is the case in some other cities in the United States, and this affects the prices a lot.
Generally speaking, designer clothing is less expensive than in the United Kingdom.
Of course, you can always choose to buy it at some of the cheaper stores in the city.
RENT PER MONTH
Taking the rent prices into account, the cost of living in Albany is neither too high nor too low, as it is definitely lower than in the capital.
If you live in the city center, however, your housing expenses would be even worse, so you should think about finding a place away from the crowds.
Cost of Living Averages Table for Albany, NY
|Average Restaurant Prices|
|Meal (Inexpensive Restaurant)||$ 17|
|Domestic Beer (0.5 Liter)||$ 5|
|Water (0.33 Liter)||$ 1.60||Average Market Prices|
|Milk (1 Liter)||$ 0.98|
|Loaf Bread (500g)||$ 2.82|
|Eggs (12)||$ 2.31||Average Transport Prices|
|One Way Ticket||$ 1.50|
|Monthly Pass||$ 60|
|Gasoline||$ 0.73||Average Utilities Prices|
|Basic (Water, Electricity, Garbage, Heating, Cooling)||$ 162.67|
|1 min. of Prepaid Mobile Tariff Local||$ 0.10|
|Internet (Unlimited Data, Cable/ADSL)||$ 62.08||Average Leisure Prices|
|Fitness Club, Monthly Fee for 1 Adult||$ 20.62|
|Tennis Court Rent (1 Hour)||$ 40|
|Cinema, 1 Seat, International Release||$ 11.75||Average Clothing Prices|
|1 Pair of Jeans (Levis 501 Or Comparable)||$ 40.78|
|1 Summer Dress in a Chain Store (Zara, etc...)||$ 35.50|
|1 Pair of Adidas Walking Shoes (Mid-Range)||$ 76.88||Average Rent Prices|
|Apartment (1 bedroom) in City Center||$ 1027.50|
|Apartment (1 bedroom) Outside of Center||$ 870.00|
|Apartment (3 bedrooms) in City Center||$ 1512.50|
How Does the Average Person Spend Their Money in Albany, NY?
The high cost of housing and rent prices in the United States is known as the main concern of people wanting to reside there.
The average rent depends on the location, amenities and size of the apartment, and those in the suburbs are generally cheaper.
Other major costs are food, transportation and restaurants, which are frequently visited, while utilities and entertainment are not such an expense.
The very little money is spent on clothing, less than 2%.
Albany, NY: Average Salary, Minimum Wage & Mortgages
Besides the spendings of its residents, you would certainly benefit from the data related to some additional financial questions.
The average salary is pretty high here, and in combination with the low rents, it makes living conditions better than in some less developed cities.
Furthermore, job opportunities are rising, meaning more employment in the city.
If you have enough financial assets to buy property here, you can do it and the mortgage rate would be 4.3%.
People with the minimum salary would have to struggle to make ends meet.
Cost of Living by City in United States
*Click the name of the city for more information.