Living in Albany, Indiana
Cost of living, income, home prices, rent and demographics of Albany · Census data 2020–2024
Albany has 2,907 residents with a median age of 49.7. The median household income is $58,026 (19% lower than the Indiana median), the median home value is $105,200, the median rent is $683/month.
Albany at a glance
- Population
- 2,907
- Median age
- 49.7State: 38.1
- Median household income
- $58,026State: $71,957
- Median home value
- $105,200State: $218,200
- Median rent
- $683/moState: $1,062
- Homeowners
- 81.6%
- Bachelor's degree or higher
- 12.7%
- Average commute
- 32 min
Is Albany a good place to live?
Pros: Home values 52% lower than the state median; unemployment of 2.7%; a poverty rate of 6.8%.
Cons: Median household income 19% lower than the Indiana median; an average commute of 32 minutes.
The weather is best in May–June and August–September.
Cost of living in Albany
Housing is the biggest part of the cost of living. In Albany the median home value is $105,200, 68% lower than the U.S. median. Renters pay a median of $683 per month, which is 24.8% of household income. Homeowners with a mortgage pay $969 a month in housing costs.
Albany median household income
The median household income in Albany is $58,026 and the income per person is $29,285. 6.8% of residents live below the poverty line (Indiana: 12.3%).
Housing in Albany: homes for sale and rent
- Housing units
- 1,390
- Owner-occupied
- 81.6%
- Renter-occupied
- 18.4%
- Vacant
- 8.1%Includes seasonal homes
- Median year built
- 1965
- Average household size
- 2.20
Albany demographics
- Population
- 2,907
- Median age
- 49.7
- Under 18
- 18.3%
- 65 and older
- 29.3%
- Households
- 1,278
- Foreign-born
- 0.8%
- Veterans
- 9.9%Adults 18+
Hispanic or Latino can be of any race. Population history of Albany ›
Education in Albany
12.7% of adults 25 and older in Albany have a bachelor's degree or higher (Indiana: 29.5%), and 2.9% have a graduate or professional degree.
Jobs and commute in Albany
- Unemployment rate
- 2.7%State: 4.3%
- Average commute
- 32 minState: 24 min
- Work from home
- 10%
- Drive alone
- 79.7%
- Public transit
- 0%
- Walk to work
- 0%
- Homes with broadband
- 87.1%
Albany vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Albany | 2,907 | $58,026 | $105,200 | $683 |
| Fairview | 306 | $40,114 | $9,999 | — |
| Dunkirk | 1,861 | $46,339 | $81,100 | $700 |
| Redkey | 1,332 | $42,986 | $85,400 | $905 |
| Eaton | 1,630 | $54,531 | $89,800 | $690 |
| Royerton | 295 | $135,068 | $112,500 | — |
| Parker City | 1,211 | $58,558 | $94,200 | $717 |
| Selma | 837 | $58,214 | $106,400 | $910 |
| Farmland | 1,276 | $41,206 | $99,200 | $832 |
More for people moving to Albany
Albany ZIP code ›Weather and climate ›Living in Albany: FAQ
What is the median household income in Albany, IN?
The median household income in Albany is $58,026, 19% lower than the Indiana median of $71,957 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Albany?
The median home value in Albany is $105,200, compared with $218,200 in Indiana.
How much is rent in Albany?
The median gross rent in Albany is $683 per month, about 24.8% of household income.
Is Albany, IN a good place to live?
Pluses: home values 52% lower than the state median; unemployment of 2.7%; a poverty rate of 6.8%. Minuses: median household income 19% lower than the Indiana median; an average commute of 32 minutes.
What is the median age in Albany?
The median age in Albany is 49.7 years (Indiana: 38.1).
How long is the commute in Albany?
The average commute to work in Albany is 32 minutes; 10% of workers work from home.
What is the unemployment rate in Albany?
The unemployment rate in Albany is 2.7% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Albany?
12.7% of adults in Albany have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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