Moving to Albany, NY

Thinking about moving to Albany?

Between 2010 and 2016, more than 255 people have moved to Albany, an increase of 0.3%. New residents are attracted to Albany’s history, farmers markets and architecture.

Living

Albany is home to 98,111 Albanians. With an area of 21.8 square miles, Albany has a population density of 4,501 persons per square mile, which makes it more dense than many other cities of comparable size.

The Albany, NY Metropolitan Statistical Area boasts a population of 881,839 people, of which Albany proper’s population makes up 11%.

Housing

One of Albany’s greatest strengths is its relatively affordable housing market. The median home value in Albany is $165,800, -17% below the US median value, according to Zillow. The median price per square foot in Albany is $116. Over the past 5 years, home values in Albany have increased by 1%.

Renters in Albany will also have an easy time finding affordable housing. The median rent in Albany is $1,421 per month, which is 1% lower than the US median. Over the past year, rental rates in Albany have decreased by 1.1%.

Economy

The Albany area economy is growing strong. The Albany metro area’s GDP grew by 19% between 2011 and 2016, from $44.1 billion in 2011 to $52.3 billion in 2016, a total increase of $8.2 billion. The metro area has a per capita GDP of $59,352. According to the US Census Bureau, the median household income in Albany is $62,283, 6% higher than the national median. Albany’s unemployment rate is 4.3%.

Weather

The average annual temperature in Albany is 48.2 degrees. The average annual low temperature is 38.6 degrees, while the average annual high is 57.8 degrees. Albany’s hottest month is July, during which the average high temperature is 82 degrees, while the coldest month is January, when the average low drops down to 15 degrees.

Albany sees an average rainfall of 39.4 inches per year. July is the wettest month, with an average rainfall of 4.13 inches, while February is the dryest month, with an average rainfall of 2.2 inches.

Crime

Albany has an annual violent crime rate of 8.7 violent crimes per 1,000 residents, which is higher than the national median of 3.8 in 1,000. Its property crime rate is 35.67 crimes per 1,000 residents a year, which is higher than the national average of 26.

Traffic & Transportation

Traffic is not as big of a problem in Albany as it is in many other US cities. According to a survey conducted by INRIX, the average commuter in Albany spends 13.2 hours in traffic each year, with about 4% of their time commuting in a traffic jam, a lower portion than average among US cities.

Walk Score gives Albany a walk score of 65.

Cost of Living

Albany is a relatively affordable place to live with a low cost of living. According to the Bureau of Economic Analysis‘s Regional Price Parity survey, which takes into account cost of living metrics including the price of goods and services and housing, Albany has a regional price parity of 91.4, -16.5% below the average for US metro areas.

Demographics

The median age in Albany is 39.8 years. 48.8% of the population in the Albany metro area is male, while 51.2% is female. 6.9% of the metro population is foreign born.

In terms of racial demographics, Albany is 48.6% Non-Hispanic White, 9.9% Hispanic, 29.1% Black, and 6.5% Asian.

% of those over the age of 25 in Albany have a high school diploma, a lower rate than nationally. % of those over the age of 25 have a bachelor’s degree, which is lower than the national rate. % of residents have an advanced or professional degree.

In the 2016 presidential election, % of Albany voters voted for the Republican nominee, while % voted for the Democratic nominee.

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