Albany, IL
Population 783 · Illinois
About Albany, IL
Albany is a small community in Illinois with a population of 783 residents. The median household income is $68,750 per year, which is near the national average. The median age in Albany is 37.9 years.
Housing in Albany has a median home value of $147,800 and median monthly rent of $721. Of the 356 total housing units, the majority are owner-occupied, with 291 owner-occupied and 29 renter-occupied units.
The unemployment rate in Albany is 5.8% and the poverty rate is 3.5%. 13.9% of residents hold a bachelor's degree or higher. The average commute time is 23.5 minutes.
Cost of Living in Albany, IL
Compared to national averages, Albany has a median household income of $68,750 (9% below the national median of $75,149). Home values average $147,800, which is 40% below the national median. Monthly rent at $721 is 38% below the US average of $1,163. Within Illinois, Albany's income is 8% below the state average of $75,072, and home values are 11% below the state median of $165,779.
Why Live in Albany, IL?
Albany offers affordable housing with a median home value of $147,800, below the US average of $244,900, and rent that’s lower than the national average at $721/month, and a low poverty rate of 3.5%, better than the national average. Additionally, the city features short commute times averaging just 23.5 minutes.
Potential considerations include median household income ($68,750) that falls below the national average. However, Albany’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Albany has a population of 783 with a median age of 37.9 years. Compare Albany with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Albany
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Wataga | 782 | $57,500 | $95,700 | Compare |
| Elkville | 781 | $46,600 | $74,000 | Compare |
| Evansville | 781 | $63,125 | $84,700 | Compare |
| Glasford | 785 | $83,750 | $97,100 | Compare |
| Ogden | 785 | $84,688 | $148,700 | Compare |
| Pleasant Plains | 785 | $78,542 | $152,000 | Compare |
| Ringwood | 778 | $157,500 | $364,700 | Compare |
| Sheffield | 789 | $68,542 | $102,600 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Illinois
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Albany
What is the population of Albany, IL?
The population of Albany, IL is 783 according to the latest Census data.
What is the median household income in Albany?
The median household income in Albany, IL is $68,750 per year.
What is the median home value in Albany?
The median home value in Albany, IL is $147,800.
What is the average rent in Albany?
The median monthly rent in Albany, IL is $721.
What is the unemployment rate in Albany?
The unemployment rate in Albany, IL is 5.8%.