Salary & Cost of Living in Albany, NY
Albany, NY: $60,000 median salary, cost of living index 95, $16.50/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$60,000
$29/hr
Cost of Living
95
US avg = 100
Minimum Wage
$16.50
per hour
Unemployment
3.5%
rate
Albany, NY Overview
Population
99,224
Median Salary
$60,000
Average Salary
$66,500
Avg Commute
22 min
Median Home Price
$215,000
Median Rent
$1,150/mo
Job Growth
+1.2%
Sales Tax
8%
Albany is located in New York with a population of 99,224. The median household salary is $60,000 per year ($29/hour), which is $616 above the national median of $59,384. The average commute time is 22 minutes, and the city has a job growth rate of +1.2%.
Albany Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Albany, NY, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$46,451
$3,870.88/month · $1,786.56/biweekly · Effective Rate: 22.6%
Gross Pay
$60,000
Federal Tax
-$5,162
State Tax
-$3,798
Local Tax
$0
FICA
-$4,590
Net Pay
$46,451
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $5,000.00 | $60,000.00 |
| Federal Income Tax | -$430.13 | -$5,161.50 |
| New York State Tax (6.33%) | -$316.50 | -$3,798.00 |
| Social Security (6.2%) | -$310.00 | -$3,720.00 |
| Medicare (1.45%) | -$72.50 | -$870.00 |
| Net Take-Home Pay | $3,870.88 | $46,450.50 |
Salary Comparison: Albany vs Other Cities
See how Albany's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Albany, NY | $60,000 | 95 | $63,158 |
| National Average | $59,384 | 100 | $59,384 |
| Tampa, FL | $60,000 | 102 | $58,824 |
| Idaho Falls, ID | $60,000 | 93 | $64,516 |
| Joliet, IL | $60,000 | 90 | $66,667 |
| Kansas City, MO | $60,000 | 90 | $66,667 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Albany
Albany's cost of living index is 95 (national average = 100). Living in Albany is 5% less expensive than the national average.
Median Home Price
$215,000
Median Monthly Rent
$1,150
Annual Rent Cost
$13,800
Your Salary's Purchasing Power
Your $46,451 annual take-home pay in Albany has the purchasing power of approximately $48,895 in an average-cost US area. Your $60,000 salary stretches further here than in most US cities.
Top Industries in Albany
Albany's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $60,000.
Salary Tips for Albany Workers
- Maximize pre-tax deductions. With a 6.33% state income tax rate, maximizing 401(k) contributions (up to $23,500 in 2026) and HSA contributions can significantly reduce both your federal and state tax burden.
- Research top industries. Albany's top industries include Government, Education, Healthcare. Targeting roles in these sectors can help you earn above the $60,000 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
Explore Salaries Across the US
Compare salary data and cost of living for hundreds of US cities. Find out where your paycheck goes the furthest.
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Frequently Asked Questions
What is the median salary in Albany, NY?
The median salary in Albany, NY is $60,000 per year, or $29 per hour. The average salary is $66,500. This is $616 above the national median of $59,384.
What is the cost of living in Albany, NY?
Albany's cost of living index is 95 (national average = 100), meaning it is 5% less expensive compared to the national average. The median home price is $215,000 and the median monthly rent is $1,150.
What are the best industries in Albany?
The top industries in Albany, NY include Government, Education, Healthcare. The city has a job growth rate of 1.2% and an unemployment rate of 3.5%. Workers in these industries often earn above the city's median salary of $60,000.
How does Albany's salary compare to other cities?
Albany's median salary of $60,000 is 1.0% above the national median of $59,384. However, when adjusted for cost of living (index: 95), the real purchasing power is approximately $63,158.
What is the minimum wage in Albany, NY?
The minimum wage in Albany, NY is $16.50 per hour. This equals approximately $34,320 per year for a full-time worker (40 hours/week). This is $9.25 above the federal minimum wage of $7.25/hour.