Albany, MO
Population 1,855 · Missouri
About Albany, MO
Albany is a small town located in Missouri with a population of 1,855 residents according to the latest US Census Bureau American Community Survey data. The median household income is $46,905 per year, which is 38% below the national median of $75,149. The median age of 40.7 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Albany features a median home value of $96,700, which is 61% 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 $520, 55% below the national average of $1,163/month. Of the 889 total housing units, 69% are owner-occupied (536 units) and 31% are renter-occupied (242 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Albany shows an unemployment rate of 2.9%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 17.9%, above the national average of 12.4%. Workers in Albany have an average one-way commute time of 18.6 minutes, one of the shorter commutes in the region.
Education & Demographics
22.7% 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 1.0% White, 1.3% Hispanic or Latino, 0.5% Black or African American, and 2.5% Asian residents, with 1.2% of the population being foreign-born.
Cost of Living in Albany, MO
Compared to national averages, Albany has a median household income of $46,905 (38% below the national median of $75,149). Home values average $96,700, which is 61% below the national median. Monthly rent at $520 is 55% below the US average of $1,163. Within Missouri, Albany's income is 23% below the state average of $61,047, and home values are 36% below the state median of $150,786.
Why Live in Albany, MO?
Albany offers affordable housing with a median home value of $96,700, below the US average of $244,900, and rent that’s lower than the national average at $520/month, and a strong job market with an unemployment rate of just 2.9%. Additionally, the city features short commute times averaging just 18.6 minutes.
Potential considerations include median household income ($46,905) 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 1,855 with a median age of 40.7 years. Compare Albany with other cities to see how it stacks up, or explore all cities in Missouri.
Similar Cities Near Albany
Cities in Missouri with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Weston | 1,852 | $91,625 | $246,000 | Compare |
| Memphis | 1,860 | $49,598 | $117,200 | Compare |
| Milan | 1,883 | $52,647 | $89,700 | Compare |
| Huntsville | 1,806 | $52,266 | $101,500 | Compare |
| Hamilton | 1,909 | $56,548 | $139,200 | Compare |
| Winchester | 1,914 | $87,344 | $209,300 | Compare |
| Lincoln | 1,795 | $60,272 | $123,000 | Compare |
| Marble Hill | 1,781 | $30,486 | $94,000 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Missouri
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, MO?
The population of Albany, MO is 1,855 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Missouri.
What is the median household income in Albany?
The median household income in Albany, MO is $46,905 per year, which is 38% below the national median of $75,149.
What is the median home value in Albany?
The median home value in Albany, MO is $96,700, which is 61% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Albany?
The median monthly rent in Albany, MO is $520, which is 55% below the national average of $1,163/month.
What is the unemployment rate in Albany?
The unemployment rate in Albany, MO is 2.9%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Albany, MO a good place to live?
Albany offers a moderate cost of living, affordable housing, and a strong job market. With a population of 1,855 and a median age of 40.7, the city appeals to a broad range of residents.
How educated is Albany, MO?
22.7% 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, MO: median home value is $96,700 (61% below national), median rent is $520/month, and median household income is $46,905. The home-value-to-income ratio is 2.1x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Albany?
The poverty rate in Albany, MO is 17.9%, 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, MO?
Albany's population is 1.0% White, 1.3% Hispanic or Latino, 0.5% Black or African American, 2.5% Asian, and 0.5% two or more races. 1.2% of residents are foreign-born.