Albany, OR

Average · 101

Oregon · Population 56,773 · Updated March 2026

$1,311
Median Rent / Month
$73,809
Median Income
$352,900
Median Home Value
$1,393
Owner Costs / Month

Affordability

How far your income goes in Albany

21.3%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Oregon

State-level tax rates that affect your costs

9.9%
Income Tax (Top Rate)
0%
Sales Tax
0.93%
Property Tax Rate

Estimated Annual Costs

$15,732
Annual Rent
$7,307
State Income Tax
$3,282
Property Tax (est.)

Cost of Living Overview

Albany has a cost of living close to the national average, offering a balanced mix of expenses and amenities. With a cost index of 101 (where 100 equals the national median), Albany residents can expect to pay median rent of $1,311/month while earning a median household income of $73,809/year.

The median home value in Albany, OR is $352,900, with typical monthly owner costs around $1,393 including mortgage, insurance, and taxes. The median rent-to-income ratio of 21.3% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Oregon's top income tax rate of 9.9% is among the highest in the nation, adding to the overall cost burden. Combined with a 0% sales tax rate and 0.93% effective property tax rate, the overall tax environment is a factor in the total cost of living in Albany.

Frequently Asked Questions

Common questions about living costs in Albany

What is the cost of living in Albany, OR?
The cost of living index in Albany, OR is 101 (US average = 100). Median monthly rent is $1,311, median household income is $73,809/year, and the median home value is $352,900.
Is Albany, OR affordable?
No, Albany is more expensive than the national average with a cost index of 101. The rent-to-income ratio is 21.3%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Albany, OR?
The median gross rent in Albany, OR is $1,311 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $15,732.
What is the median household income in Albany?
The median household income in Albany, OR is $73,809 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Oregon?
Oregon has a top income tax rate of 9.9%, a sales tax of 0%, and an effective property tax rate of 0.93%.