Living in Albany, Minnesota
Cost of living, income, home prices, rent and demographics of Albany · Census data 2020–2024
Albany has 2,821 residents with a median age of 34. The median household income is $69,167 (22% lower than the Minnesota median), the median home value is $238,500, the median rent is $642/month.
Albany at a glance
- Population
- 2,821
- Median age
- 34State: 38.8
- Median household income
- $69,167State: $89,062
- Median home value
- $238,500State: $329,300
- Median rent
- $642/moState: $1,280
- Homeowners
- 66.8%
- Bachelor's degree or higher
- 20.5%
- Average commute
- 23 min
Is Albany a good place to live?
Pros: Home values 28% lower than the state median; unemployment of 2.9%.
Cons: Median household income 22% lower than the Minnesota median; an average commute of 23 minutes; a poverty rate of 10.8%.
The weather is best in June to September.
Cost of living in Albany
Housing is the biggest part of the cost of living. In Albany the median home value is $238,500, 28% lower than the U.S. median. Renters pay a median of $642 per month, which is 29.5% of household income. Homeowners with a mortgage pay $1,600 a month in housing costs.
Albany median household income
The median household income in Albany is $69,167 and the income per person is $36,829. 10.8% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Albany: homes for sale and rent
- Housing units
- 1,214
- Owner-occupied
- 66.8%
- Renter-occupied
- 33.2%
- Vacant
- 3.8%Includes seasonal homes
- Median year built
- 1983
- Average household size
- 2.37
Albany demographics
- Population
- 2,821
- Median age
- 34
- Under 18
- 27.2%
- 65 and older
- 18.4%
- Households
- 1,168
- Foreign-born
- 2.6%
- Veterans
- 7.1%Adults 18+
Hispanic or Latino can be of any race. Population history of Albany ›
Education in Albany
20.5% of adults 25 and older in Albany have a bachelor's degree or higher (Minnesota: 39.4%), and 5.9% have a graduate or professional degree.
Jobs and commute in Albany
- Unemployment rate
- 2.9%State: 4.1%
- Average commute
- 23 minState: 23 min
- Work from home
- 6%
- Drive alone
- 85.2%
- Public transit
- 0%
- Walk to work
- 3.9%
- Homes with broadband
- 86%
Albany vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Albany | 2,821 | $69,167 | $238,500 | $642 |
| Avon | 1,552 | $91,563 | $245,100 | $1,039 |
| Freeport | 787 | $89,808 | $223,200 | $906 |
| Holdingford | 718 | $79,375 | $205,700 | $582 |
| New Munich | 299 | $92,188 | $179,000 | $1,139 |
| St. Martin | 313 | $59,219 | $216,900 | $425 |
| Richmond | 1,431 | $71,438 | $241,300 | $648 |
| Melrose | 3,671 | $59,677 | $207,200 | $1,103 |
| Upsala | 417 | $52,625 | $147,500 | $833 |
More for people moving to Albany
Albany ZIP code ›Weather and climate ›Living in Albany: FAQ
What is the median household income in Albany, MN?
The median household income in Albany is $69,167, 22% lower than the Minnesota median of $89,062 (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 $238,500, compared with $329,300 in Minnesota.
How much is rent in Albany?
The median gross rent in Albany is $642 per month, about 29.5% of household income.
Is Albany, MN a good place to live?
Pluses: home values 28% lower than the state median; unemployment of 2.9%. Minuses: median household income 22% lower than the Minnesota median; an average commute of 23 minutes; a poverty rate of 10.8%.
What is the median age in Albany?
The median age in Albany is 34 years (Minnesota: 38.8).
How long is the commute in Albany?
The average commute to work in Albany is 23 minutes; 6% of workers work from home.
What is the unemployment rate in Albany?
The unemployment rate in Albany is 2.9% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Albany?
20.5% 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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