| Index | Albany | Georgia | National |
| Cost of living | 88 | 96 | 100 |
| Groceries | 97 | 99 | 100 |
| Health care | 100 | 99 | 100 |
| Housing | 62 | 88 | 100 |
| Transportation | 98 | 99 | 100 |
| Utilities | 98 | 102 | 100 |
| Lifestyle & Entertainment | 101 | 100 | 100 |
| Household Items | 101 | 100 | 100 |
| Education & Childcare | 97 | 99 | 100 |
Knowing the cost of living in Albany allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Albany stands at 88, marking it 12% lower than the national average.
Nobody knows their city better than the people who actually live there. So, we asked 8 local residents how they would rate the cost of living in Albany and this is how they responded. 13% of people said that the cost of living was affordable, with prices decreasing, while 88% of people said that the cost of living was very expensive and prices continue to rise.
Is Albany affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Albany, the median home price is 46% lower than the national average and monthly rent prices are 18.5% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Albany boasting a median household income of $57,781, 29% lower than the national average.
Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.
Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Albany, the baseline sales tax rate begins at 4%, and income tax rates start at 1%.
Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Albany, healthcare costs are 0.1% lower than the national average.
The Albany cost of living estimates above use a normalized U.S. average of 100 as the baseline for comparison. Housing values incorporate local home price and rental information from the U.S. Census, while all other estimates are AI-assisted and modeled using expected everyday expenses, local market trends, climate, and transportation-related cost pressures. The results are intended for practical city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $78,076 | $6,506 | $1,822 | $2,343 |
| Renters | $40,646 | $3,387 | $948 | $1,220 |
| State | General Sales Tax | With Max Surtax |
| Georgia | 4% | 8% |
| State | Income Tax (Low) | Income Tax (High) |
| Georgia | 1% | 5.57% |
| City | Population | Cost of Living Index | National Avg. |
| Baconton, GA | 1,065 | 84 | 16.4% |
| Sasser, GA | 431 | 84 | 16.0% |
| Putney, GA | 2,911 | 88 | 11.9% |
| Leesburg, GA | 3,110 | 92 | 8.1% |
| Albany, GA | 74,905 | 88 | 12.2% |
| City | Population | Cost of Living Index | National Avg. |
| New Britain, CT | 74,963 | 104 | 4.4% |
| Dale City, VA | 74,814 | 126 | 26.2% |
| Framingham, MA | 74,706 | 145 | 44.5% |
| Southfield, MI | 74,641 | 97 | 2.8% |
| Lafayette, IN | 75,191 | 89 | 11.4% |
| Albany, GA | 74,905 | 88 | 12.2% |
Here are the best places to live in Georgia
Check out the 10 most dangerous cities in Georgia
Most Dangerous States In The US
These are the largest cities in Georgia