Albany, New York is a moderately-sized city with a population of 98,425 residents. With a population density of 4,602 people per square mile, Albany is well above the nation's average density level. Albany is known to be an ethnically diverse city. The two most common races are White (56%) and Black or African American (30%). Albany could be a great place for young adults and students as the average age of 31 years old is below the nation’s average.
Whether you’re moving to a new town to be closer to family, friends or for a new job, living in Albany could be a positive experience compared to other cities in New York if you know where to look. The best areas in Albany and in surrounding cities are easier to find when you are able to make informed decisions. Using data from crime, weather, employment, housing, you will see a detailed breakdown of the most important information as well as comparisons to the New York and national averages.
The livability score in Albany is 57/100 and the city is ranked in the 12th percentile of all cities across America. This score ranks well below the United States average. With such a low livability score, it might be worth investigating a little further. If we check out each of the categories on their own, we see that Albany ranks well for amenities (A+). There are some categories that Albany ranks poorly for, including: crime (F), weather (D-), education (F), employment (D) and housing (F). It might be worth taking a closer look to find out why.
Conveniently located amenities and interesting attractions are a great way to continuously enjoy Albany on a regular basis. Knowing that there are an abundance of amenities and things to do can ensure that you always have access to nearby grocery stores, restaurants and coffee shops. Here are some of the more popular things to do in Albany: New York State Museum, New York State Capitol, and The Egg.
Unemployment rates can range pretty dramatically from one city to another. Knowing that Albany has an unemployment rate of 0.9% probably means that there are ample job opportunities for you to consider as it is far below the national average.
Assuming that Albany meets all of your requirements, the next most important item to examine is the affordability of real estate in Albany. Everything else becomes a lot less important if it turns out that home prices in Albany are simply unattainable. Median real estate prices in Albany come in at $172,700, which is 39.7% lower than the New York average. The home price to income ratio compares the median home prices to the median household income. In Albany, the home price to income ratio is 4.1, which is 12.8% lower than the New York average. Knowing if your home will appreciate on a long term or even a short term basis should be factored into your decision making. An increase in your home’s value can be a good way to generate tax-free equity that can create long term financial security. In the past year, appreciation rates for homes in the Albany area were 6.2% and 5 year appreciation rates were 2.5%.