Albany, KY
Population 1,972 · Kentucky
About Albany, KY
Albany is a small town located in Kentucky with a population of 1,972 residents according to the latest US Census Bureau American Community Survey data. The median household income is $40,301 per year, which is 46% below the national median of $75,149. The median age of 46.2 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Albany features a median home value of $102,500, which is 58% below the national median of $244,900. This makes Albany one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $610, 48% below the national average of $1,163/month. Of the 1,064 total housing units, 41% are owner-occupied (351 units) and 59% are renter-occupied (496 units). The higher proportion of renters may reflect a transient population, younger demographics, or high housing costs relative to income.
Economy & Employment
The local economy in Albany shows an unemployment rate of 4.2%, which is near the national rate of 3.7%. The poverty rate stands at 23.2%, above the national average of 12.4%. Workers in Albany have an average one-way commute time of 16.1 minutes, one of the shorter commutes in the region.
Education & Demographics
16.9% of Albany residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 0.1% White, 1.6% Hispanic or Latino, 0.0% Black or African American, and 1.1% Asian residents, with 3.8% of the population being foreign-born.
Cost of Living in Albany, KY
Compared to national averages, Albany has a median household income of $40,301 (46% below the national median of $75,149). Home values average $102,500, which is 58% below the national median. Monthly rent at $610 is 48% below the US average of $1,163. Within Kentucky, Albany's income is 39% below the state average of $66,273, and home values are 44% below the state median of $182,504.
Why Live in Albany, KY?
Albany offers affordable housing with a median home value of $102,500, below the US average of $244,900, and rent that’s lower than the national average at $610/month, and short commute times averaging just 16.1 minutes.
Potential considerations include median household income ($40,301) 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 1,972 with a median age of 46.2 years. Compare Albany with other cities to see how it stacks up, or explore all cities in Kentucky.
Similar Cities Near Albany
Cities in Kentucky with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Dawson Springs | 1,973 | $31,607 | $73,500 | Compare |
| Owingsville | 1,977 | $40,150 | $92,700 | Compare |
| Hurstbourne Acres | 1,984 | $68,229 | $292,900 | Compare |
| Beattyville | 1,948 | $23,750 | $106,800 | Compare |
| Whitesburg | 1,998 | $31,875 | $111,300 | Compare |
| Jeffersonville | 1,937 | $56,932 | $114,900 | Compare |
| Orchard Grass Hills | 2,008 | $105,417 | $261,100 | Compare |
| Jamestown | 2,021 | $25,602 | $119,200 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Kentucky
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Albany With Other Cities
Frequently Asked Questions about Albany
What is the population of Albany, KY?
The population of Albany, KY is 1,972 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Kentucky.
What is the median household income in Albany?
The median household income in Albany, KY is $40,301 per year, which is 46% below the national median of $75,149.
What is the median home value in Albany?
The median home value in Albany, KY is $102,500, which is 58% below the national median of $244,900. A significant portion of residents rent their homes.
What is the average rent in Albany?
The median monthly rent in Albany, KY is $610, which is 48% below the national average of $1,163/month.
What is the unemployment rate in Albany?
The unemployment rate in Albany, KY is 4.2%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Albany, KY a good place to live?
Albany offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 1,972 and a median age of 46.2, the city appeals to established professionals and retirees.
How educated is Albany, KY?
16.9% of residents in Albany aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Albany?
Key cost-of-living indicators for Albany, KY: median home value is $102,500 (58% below national), median rent is $610/month, and median household income is $40,301. The home-value-to-income ratio is 2.5x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Albany?
The poverty rate in Albany, KY is 23.2%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Albany, KY?
Albany's population is 0.1% White, 1.6% Hispanic or Latino, 0.0% Black or African American, 1.1% Asian, and 0.0% two or more races. 3.8% of residents are foreign-born.