Cost of Living in Albany, OH

With a cost of living index of 75, Albany, OH is a very affordable place to live. Living here is 25% cheaper than the national average and in line with the Ohio state average. Albany is a small community of 909 residents.

Housing costs are the biggest factor in Albany's cost of living. The median monthly rent is $1,039 (21% below the US median of $1,319), and the median home value sits at $140,800 (54% below the national median of $304,900). At current prices, the median home costs roughly 2.1x the median household income — well within traditional affordability guidelines.

The median household income in Albany is $66,518, which is 11% lower than the national median of $75,149. Residents spend roughly 19% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Albany. The area sees an average annual temperature of 54.9°F, with summers averaging 75°F and winters around 35°F. Annual rainfall totals 44.2 inches spread over roughly 137 days.

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.