Quick facts: Albany, GA

Quick Facts

97.5
Cost of Living
below US average
67,192
Population
11.13
Crime Rate per 1000
below US average
$43,724
Median Income
below US average
$80,000
Median House Price
above US average
$2566.43
Average Rent
above US average
23%
Poverty Rate
above US average
5.7%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $43,724.

🏠

Income Needed to Buy

βœ“ Affordable
$25k/year
Based on $80,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($43,724) exceeds requirement
🏒

Income Needed to Rent

⚠ Stretch
$110k/year
Based on $2566.43/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $110k vs median $43,724
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Albany, GA

Albany, Georgia, located in the southwestern part of the state, is the county seat of Dougherty County. With a rich history dating back to its founding in 1836, the city has developed into a vibrant regional hub. Albany is known for its picturesque landscapes, featuring beautiful parks like Ray Charles Plaza and the Liberty Theatre, which embody its strong cultural heritage. The city has a diverse economy, with key sectors including healthcare, manufacturing, and agriculture. Albany’s location along the Flint River provides opportunities for outdoor activities such as fishing, boating, and hiking. Historically significant, Albany played a pivotal role in the Civil Rights Movement, with various landmarks commemorating its legacy. The climate in Albany is characterized by hot summers and mild winters, making it suitable for year-round outdoor activities. The city is also home to Albany State University, adding an educational and cultural dimension to the community. With its blend of history, culture, and recreational options, Albany offers a unique charm that attracts both residents and visitors alike.

πŸ” Search & Compare Places

First Location πŸ“