Affordable

What Salary Do You Need to Live in Albany?

To afford a 2-bedroom in Albany, you need to earn at least $27,000/year based on estimated fair market rent data. The median household income here is $39,167, which means the typical resident is $12,167 above the threshold.

Census ACS Data Pop. 2,264

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$472	$1,573	$18,880	$-20,287
1 Bedroom	$560	$1,867	$22,400	$-16,767
2 Bedroom BENCHMARK	$675	$2,250	$27,000	$-12,167
3 Bedroom	$824	$2,747	$32,960	$-6,207
4 Bedroom	$1,013	$3,377	$40,520	+$1,353

Affordability Breakdown

Where the required salary line crosses above Albany's median income — housing becomes unaffordable for the typical resident.

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$39,167

Annual household

2BR Required Salary

$27,000

Under 30% rule

Income Gap

+$12,167

Surplus

Verdict

Affordable

Ratio: 20.7%

The 30% Rule Calculator

Enter your annual salary to see what you can afford in Albany

Your Annual Salary

Pre-filled with Albany's median household income

Max monthly rent you can afford$979

Studio

$472/mo

1 BR

$560/mo

2 BR

$675/mo

3 BR

$824/mo

4 BR

$1,013/mo

Your salary is $0 above the median income in Albany.

Salary Comparison by Bedroom

Bars left of the marker line are affordable for Albany's median earner. Bars to the right require above-median income.

Affordable Above Median Median Income

What This Means If You're Moving to Albany

Living in Albany is well within reach for most median-income earners. With a $12,167 cushion between what residents earn and what a 2-bedroom requires, households in Albany typically have meaningful financial flexibility after housing costs.

For remote workers or relocators evaluating Albany, a studio at $472/month offers an even more aggressive savings rate. Even a 3-bedroom at $824/month remains accessible for dual-income households earning above $32,960.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $40,500 would position you well — though many residents in Albany manage on less given the favorable rent-to-income dynamics.

Economic Outlook

Local Job Market & Housing Dynamics

Affording rent isn't just about housing prices—it's heavily dependent on local employment opportunities and the strength of the job market in Albany, Kentucky.

With a total population of 2,264, the city supports an active civilian workforce of 942 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $27,000 annual salary. The ratio of employed residents to the total population provides insight into the local economic health and competition for both jobs and housing.

Employed Workforce

942

Active civilian employees in Albany

Frequently Asked Questions About Renting in Albany

What salary do I need to live in Albany, Kentucky?

To afford a 2-bedroom in Albany under the 30% rule, you need an annual salary of at least $27,000. The median household income in Albany is $39,167.

Can I afford a 2-bedroom in Albany on $39,167?

The affordability verdict for Albany is "Affordable". The rent-to-income ratio is 20.7%, meaning median earners have a $12,167 surplus.

What is the average rent in Albany compared to median income?

The median gross rent in Albany is $560/month. With a median household income of $39,167, residents spend approximately 20.7% of their income on rent.

What salary do I need for a studio in Albany?

A studio in Albany rents for approximately $472/month. Under the 30% rule, you need an annual salary of $18,880 to afford this.

Is Albany considered an affordable place to live?

Based on the surplus of $12,167 and an affordability verdict of "Affordable", Albany is considered a affordable rental market when comparing the required 2-bedroom salary of $27,000 to the local median household income.

How Albany Compares

Other cities in Kentucky with salary requirements