| Index | Albany | Oregon | National |
| Cost of living | 111 | 111 | 100 |
| Groceries | 105 | 104 | 100 |
| Health care | 103 | 105 | 100 |
| Housing | 125 | 124 | 100 |
| Transportation | 103 | 106 | 100 |
| Utilities | 109 | 106 | 100 |
| Lifestyle & Entertainment | 107 | 107 | 100 |
| Household Items | 104 | 104 | 100 |
| Education & Childcare | 104 | 109 | 100 |
Getting a feel for the cost of living in Albany is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Albany is 111, which is 11% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.
Housing costs make up a big chunk of the cost of living in Albany, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 24.6% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.
Is Albany an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Albany, the median home price is 31.5% higher than what most folks pay across the country, and monthly rent prices are 8.7% higher than the usual rates. Income levels in Albany come in at $94,472, which is 16.2% higher than the national average.
Urbanization: Larger, urban centers, known for their wealth of amenities and strong employment prospects, often exhibit an elevated cost of living, primarily attributable to the heightened demand for services and residential relocation. Consequently, this scenario leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural areas or regions characterized by diminished demand typically provide a more limited array of amenities and experience slower job market growth, resulting in a more affordable cost of living.
Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In Albany, the transportation index is 3.2% higher than the national average.
Housing: High demand for housing in desirable locations can drive up property prices and rental rates. This can be a primary contributor to a higher cost of living. While low demand for housing, especially in undesirable locations, can have the reverse effect and drive prices down, resulting in a lower cost of living. The housing index in Albany, is 24.6% higher than the national average.
The cost of living data for Albany shown above is based on a U.S. average baseline score of 100, making it easier to compare how far your dollar may go from one city to another. Housing uses U.S. Census home price and rental data, while all remaining values are AI-assisted estimates informed by regional pricing, climate, transportation dynamics, and local economic factors. These scores are best used for directional comparisons between cities.
| 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 | $118,203 | $9,850 | $2,758 | $3,546 |
| Renters | $62,572 | $5,214 | $1,460 | $1,877 |
| State | General Sales Tax | With Max Surtax |
| Oregon | 0% | 0% |
| State | Income Tax (Low) | Income Tax (High) |
| Oregon | 4.75% | 9.9% |
| City | Population | Cost of Living Index | National Avg. |
| Shedd, OR | 296 | 109 | 8.6% |
| West Scio, OR | 39 | 105 | 4.9% |
| Waterloo, OR | 317 | 101 | 0.6% |
| Lebanon, OR | 17,626 | 105 | 5.1% |
| Sodaville, OR | 420 | 106 | 6.0% |
| Albany, OR | 56,227 | 111 | 10.8% |
| City | Population | Cost of Living Index | National Avg. |
| West Haven, CT | 56,258 | 109 | 9.5% |
| Yucaipa, CA | 56,126 | 134 | 34.3% |
| Rocky Mount, NC | 56,346 | 89 | 11.4% |
| Port Arthur, TX | 56,362 | 85 | 15.5% |
| Gilroy, CA | 56,371 | 181 | 81.1% |
| Albany, OR | 56,227 | 111 | 10.8% |
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