Cost of Living in Albion, ID

With a cost of living index of 81, Albion, ID is a very affordable place to live. Living here is 19% cheaper than the national average and 6% below the Idaho state average of 87. Albion is a small community of 371 residents.

Housing costs are the biggest factor in Albion's cost of living. The median monthly rent is $958 (27% below the US median of $1,319), and the median home value sits at $240,000 (21% below the national median of $304,900). At current prices, the median home costs roughly 3.3x the median household income — a moderately affordable ratio by today's standards.

The median household income in Albion is $73,375, which is 2% lower than the national median of $75,149. Residents spend roughly 16% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.