Is Indianapolis, IN cheaper than Albany, NY?

Based on cost of living data, Indianapolis, IN is 9.3% cheaper than Albany, NY. This translates to saving $699 per month.

What salary do I need in Indianapolis, IN to live like I do in Albany, NY?

If you earn $150,000 in Albany, NY, you'd need approximately $141,609.682 in Indianapolis, IN to maintain the same standard of living.

How does housing cost compare between Albany, NY and Indianapolis, IN?

Housing in Indianapolis, IN is 7.8% more expensive than in Albany, NY. For a two-bedroom apartment, rent is $1,360/month in Indianapolis, IN compared to $1,276/month in Albany, NY.

How much can I save per month by moving from Albany, NY to Indianapolis, IN?

Moving from Albany, NY to Indianapolis, IN could save you approximately $699 per month, or $8390 per year, based on a $150,000 salary.

Albany, NY vs Indianapolis, IN: Cost of Living Comparison 2026

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Cost of Living Comparison 2026

📍 Albany, NY — ZIP-level rent data · COL adjusted from Newark, NJ area

Current salary in Albany, NY

Numbers update automatically as you type

You'd save $699/month moving to Indianapolis, IN

$150.0K in your current city equals $141.6K in Indianapolis, IN

Rent data from HUD ZIP-level estimates · COL index from Albany-Schenectady-Troy, NY area

Overall Cost

↓ 9.3%

Less expensive

Monthly Impact

$699

Savings

Annual Impact

$8.4K

Per year

Based on monthly living costs (rent, groceries, utilities, transport, healthcare). Home purchase prices shown separately below.

Albany, NY

Population:101K

Cost Index:100

Median Home:$248K

Indianapolis, IN

Population:888K

Cost Index:91

Median Home:$176K

Albany, NY

The Empire State

101K

Population

State Tax

Yes

Located in New York, this city has a population of 101K residents.

Indianapolis, IN

The Hoosier State

888K

Population

State Tax

Yes

Located in Indiana, this city has a population of 888K residents.

Cost Breakdown by Category

Annual spending: Albany, NY vs Indianapolis, IN

Category	Albany, NY	Indianapolis, IN	Difference	Change
🚗Transportation	$1,420/mo	$1,188/mo	↓ $231less	16.3%
📦Other	$1,799/mo	$1,590/mo	↓ $209less	11.6%
🏠Housing	$1,808/mo	$1,949/mo	↑ $141more	7.8%
🛒Groceries	$1,036/mo	$919/mo	↓ $117less	11.3%
🏥Healthcare	$648/mo	$582/mo	↓ $65.81less	10.2%
⚡All Utilities	$561/mo	$503/mo	↓ $58.67less	10.5%

🚗Transportation

↓ 16.3%

Albany, NY

$1,420

Indianapolis, IN

$1,188

Difference

$231

less

📦Other

↓ 11.6%

Albany, NY

$1,799

Indianapolis, IN

$1,590

Difference

$209

less

🏠Housing

↑ 7.8%

Albany, NY

$1,808

Indianapolis, IN

$1,949

Difference

$141

🛒Groceries

↓ 11.3%

Albany, NY

$1,036

Indianapolis, IN

$919

Difference

$117

less

🏥Healthcare

↓ 10.2%

Albany, NY

$648

Indianapolis, IN

$582

Difference

$65.81

less

⚡All Utilities

↓ 10.5%

Albany, NY

$561

Indianapolis, IN

$503

Difference

$58.67

less

🏛️ Local Income Taxes

Indianapolis, IN: Marion County Income Tax$3,030/yr (2.0%)

Albany, NY has no local income tax.

Local taxes are in addition to state income tax. Not all cities levy local income taxes.

🏠Rent Comparison

Studio

From$914

To$1,030

↑ $116

1 Bed

From$1,065

To$1,170

↑ $105

2 Bed

From$1,276

To$1,360

↑ $84.00

3 Bed

From$1,533

To$1,760

↑ $227

Albany, NYZIP-level data

1BR range: $1,180–$1,640/mo

Indianapolis, INZIP-level data

1BR range: $1,080–$1,870/mo

💡 Note: Rent prices are based on HUD Fair Market Rent data and represent median costs. Actual prices vary by neighborhood, amenities, and condition. Source: HUD Small Area Fair Market Rents FY2026.

$7,273

Monthly in Albany, NY

$6,732

Monthly in Indianapolis, IN

$540

Difference

Home Values

Albany

Indianapolis

$248K

Median Value

$176K

↑ +3.8%

YoY Change

↓ -1.1%

↑ +38.9%

5-Year Change

↑ +26.9%

$168K - $329K

Price Range

$109K - $340K

Homes in Indianapolis are 29% less expensive than Albany

Calculate payment - Albany Calculate payment - Indianapolis

Source: Zillow Home Value Index (ZHVI), January 2026

Tax Comparison

Annual tax burden comparison at $150.0K salary

Tax Savings

↑ $4.7K

Per year

Monthly Difference

$392

More take-home

Effective Rate Diff

3.1%

Rate difference

Albany, NY

Federal Income Tax

Effective: 18.9%

$25.5K

New York State Tax

Effective: 6.4%

$9.5K

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 31.0%

$46.6K

Take-Home Pay

$8,620/month

$103.4K

Indianapolis, IN

Federal Income Tax

Effective: 18.9%

$25.5K

Indiana State Tax

Effective: 3.2%

$4.8K

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 27.9%

$41.9K

Take-Home Pay

$9,012/month

$108.1K

Additional Tax Information

Albany, NY Tax Rates

Sales Tax:8.8%

Property Tax:1.2%

Indianapolis, IN Tax Rates

Sales Tax:7.0%

Property Tax:0.9%

💡 Note: Tax calculations are estimates based on 2024/2025 tax brackets for single filers with standard deduction. Actual taxes may vary based on filing status, deductions, credits, and local variations.