Key Economic Benchmarks
Median Household Income
$47,240$3,937 per month · U.S. Census Bureau ACS 5-YearFair market rent & 30% rule in Albany, GA
Official HUD Fair Market Rents evaluated against local household income benchmarks.
2026 HUD Fair Market Rent Schedule: Albany, GA
Official FY2026 HUD Fair Market Rents for Albany, GA MSA. Under the federal 30% housing affordability standard, housing costs are sustainable when they consume 30% or less of gross household income.
| Unit Size | Monthly Rent | Annual Rent | 30% Rule Min. Income | % of Median Income |
|---|---|---|---|---|
| Studio / Efficiency | $966 | $11,592 | $38,640 | 24.5% |
| 1-Bedroom Apartment | $1,006 | $12,072 | $40,240 | 25.6% |
| 2-Bedroom ApartmentBenchmark | $1,129 | $13,548 | $45,160 | 28.7% |
| 3-Bedroom Home | $1,534 | $18,408 | $61,360 | 39% |
| 4-Bedroom Home | $1,858 | $22,296 | $74,320 | 47.2% |
50/30/20 Living Budget in Albany, GA
Based on the local median household income of $47,240/year ($3,937/month), here is how a balanced budget allocates expenses:
Take-Home Pay & Tax Explorer in Georgia
Explore net income after federal income tax, FICA, and Georgia state income tax based on the local median baseline.
Related Regional & Financial Profiles
Compare earnings and living costs across Georgia with official federal datasets:
Frequently Asked Questions About Living in Albany, GA
What is the median household income in Albany, GA?
According to the latest U.S. Census Bureau ACS 5-Year survey, the median household income in Albany, GA is $47,240 per year (approximately $3,937 per month).
What is the average rent in Albany, GA?
According to HUD Fair Market Rent (FMR) benchmarks for 2026, standard monthly rents in Albany, GA are $966 for a studio, $1,006 for 1 bedroom, $1,129 for 2 bedrooms, $1,534 for 3 bedrooms, and $1,858 for 4 bedrooms.
How does the cost of living in Albany, GA compare to the national average?
Based on the Bureau of Economic Analysis (BEA) Regional Price Parity index, the general price level in Albany, GA is 87.7 (12.3% lower than the U.S. national baseline of 100.0).
How much do you need to earn to comfortably afford rent in Albany, GA?
Under the standard 30% housing affordability standard, renting a median 2-bedroom home ($1,129/month) in Albany, GA requires a minimum gross household income of $45,160 per year ($3,763 per month).
What is a balanced 50/30/20 monthly budget in Albany, GA?
For a typical household earning the median income of $47,240/year ($3,937/month) in Albany, GA, a balanced 50/30/20 budget allocates $1,968/month to essential needs (rent, utilities, groceries), $1,181/month to discretionary spending, and $787/month to savings and debt repayment.
What are typical electricity and utility costs in Albany, GA?
Residential electricity rates in Georgia average 16.4¢ per kWh according to the U.S. Energy Information Administration (EIA). For an average home using 900 kWh per month, the estimated electric bill is approximately $147 per month.