Mortgage Affordability Calculator for Albany, NY
Updated 2026 · Local data pre-filled
In Albany, the median household income is $66,800 per year, while the median home costs $275,000. The price-to-income ratio is 4.1x — relatively affordable for local buyers. Use this calculator to determine what you can comfortably afford based on your income.
✓ Calculator below is pre-filled with Albany local data
How Albany Compares to the National Average
Understanding how Albany stacks up helps you calibrate your financial planning.
| Metric | Albany, NY | US Average | Difference |
|---|---|---|---|
| Median Home Price | $275,000 | $420,800 | -34.6% |
| Median Monthly Rent | $1,200 | $1,713 | -29.9% |
| Median Household Income | $66,800 | $74,580 | -10.4% |
| Property Tax Rate | 2.20% | 1.10% | +100.0% |
| Cost of Living Index | 95 | 100 | -5.0% |
Sources: U.S. Census Bureau, BLS, Zillow, NAR (2024–2025). Green = favorable for residents; red = less favorable.
Albany Financial Snapshot
- Population (Metro)
- 905,000
- Unemployment
- 3.5%
- Avg Commute
- 24 min
- Median Age
- 38.4
- Price-to-Rent Ratio
- 19.1x
- Annual Property Tax
- $6,050
Mortgage Affordability Calculator in Other New York Cities
Frequently Asked Questions — Albany
What is the median home price in Albany, NY?
The median home price in Albany is $275,000 as of 2025–2026. This is below the national median of $420,800.
What is the average rent in Albany?
Median monthly rent in Albany is $1,200. That works out to $14,400/year, or 22% of the median household income — within the commonly recommended 30% of income guideline.
Is Albany affordable?
Albany's cost of living index is 95 vs. the national average of 100. With a median household income of $66,800/year and a median home price of $275,000, the price-to-income ratio is 4.1x. Albany falls in the middle of the affordability spectrum for US cities.
What is the property tax rate in Albany?
The effective property tax rate in Albany is 2.20% of assessed value. On the median home of $275,000, that's roughly $6,050/year ($504/month).