Salary Needed to Live in Albany as a Single
A single adult living independently needs approximately $20,187/year to live comfortably in Albany, NY — including 10% savings.
Comfortable Salary
$20,187
with 10% savings
Bare Minimum
$17,383
no savings buffer
Monthly Expenses
$1,043
5% below national avg
Detailed Monthly Budget for a Single in Albany
| Expense | Albany | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 Studio/1BR Rent | $118 | $113 | +4% |
| 🛒 Groceries | $19 | $17 | +12% |
| ⚡ Utilities | $13 | $14 | -7% |
| 🚗 Transportation | $30 | $26 | +15% |
| 🛡️ Car Insurance | $174 | $229 | -24% |
| 🏥 Health Insurance | $56 | $58 | -3% |
| Internet | $64 | $65 | -2% |
| Phone | $83 | $85 | -2% |
| Dining & Social | $294 | $300 | -2% |
| Entertainment | $118 | $120 | -2% |
| Personal Care | $74 | $75 | -1% |
| Total Monthly | $1,043 | $1,102 | -5% |
How We Calculated the Salary
Monthly expenses:$1,043
Target savings (10%):$135/mo
Monthly after-tax needed:$1,178
Effective tax rate:28%
Gross annual salary needed:$20,187
Other Household Types in Albany
Related Pages
FAQ
What salary does a single person need in Albany?
A single person needs approximately $20,187/year ($1,682/month gross) to live comfortably in Albany with a 10% savings rate.
How much is rent for a single person in Albany?
A studio/1br in Albany costs approximately $118/month, which is the largest single expense at 11% of the total budget.
Is Albany affordable for a single person?
Albany is roughly average for single person costs, requiring a salary close to the national median.