Albany, MN demographics:
population, income, and more

Total population
2,821
0.8% year-over-year change
Median household income
$69,167/yr
-8.3% year-over-year change
Housing units
1,214
1.0% year-over-year change

Albany population

How many people live in Albany

Albany is home to 2,821 residents, according to the most recent Census data. Gender-wise, 43.8% of Albany locals are male, and 56.2% are female.

Total population
2,821
0.8% year-over-year change
Gender ratio
Male
43.8%
1,236
Female
56.2%
1,585
Value Percent YoY change
Male 1,236 43.8% -0.2%
Female 1,585 56.2% 1.5%
A higher population often means more rental variety and livelier areas. The gender balance—how many men live here compared to women—can reveal a lot about the community and the lifestyles of its residents. Use this info to get a sense of the area's pace and personality.

Age demographics

The median age in Albany is 34, with the population distributed as follows: about 24.3% are children under 15, then 12.6% are in the 15 to 24 age group. Adults between 25 and 44 make up 27.4% of the population, while another 17.4% fall into the 45 to 64 bracket. Finally, around 18.4% are 65 or older.

Median age
34
Age breakdown
Under 15
24.3%
15 to 24
12.6%
25 to 44
27.4%
45 to 64
17.4%
Over 65
18.4%
Value Percent YoY change
Under 15 685 24.3% -3.0%
15 to 24 354 12.6% 26.4%
25 to 44 772 27.4% 9.3%
45 to 64 491 17.4% -8.2%
Over 65 519 18.4% -9.4%
The age composition helps you get insight into who lives in the area. A younger population might mean a more active, fast-paced vibe, while an older one could suggest a quieter, slower lifestyle. If there's a balanced makeup, you’re likely to find a variety of services, housing types, and community spaces that cater to different life stages.

Racial makeup

In Albany, 97.1% of the population are US-born citizens, while 2.9% have gained naturalized citizenship. As for race, 92.4% of locals are Caucasian, 0.3% are African American and 1.4% have Asian roots. There’s also a share of 5.9% that includes residents with two or more races.

Citizenship
U.S.-born citizens
97.1%
Non-U.S.-born citizens
2.9%
Non-citizens
0%
Value Percent YoY change
U.S.-born citizens 2,740 97.1% 1.1%
Non-U.S.-born citizens 81 2.9% -10.0%
Racial breakdown
White
92.4%
Black or African American
0.3%
American Indian and Alaska Native
0%
Asian
1.4%
Native Hawaiian and other Pacific Islander
0%
Two or more races
5.9%
Other
0%
Value Percent
White 2,606 92.4%
Black or African American 8 0.3%
Asian 40 1.4%
Two or more races 167 5.9%

Households in Albany

A peek inside Albany households

Albany has 1,168 households, with an average of 2 members in each. Of these, 59% are families, while the remaining 41% are made up of individuals living alone or with non-relatives, such as roommates.

Households stats

Total households
1,168
1.6% year-over-year change
Average people per household
2
Non-family households
479
Family households
689
Value Percent YoY change
Non-family households 479 41% 4.1%
Family households 689 59% 0.0%
The mix between family and non-family households gives a glimpse into daily life. A higher percentage of families might mean more parks and schools, while more non-family setups can mean flexible housing and diverse living styles. For renters, this can signal what kinds of homes are common and can help you figure out if the area matches your lifestyle.

Housing in Albany

The housing landscape of Albany

Albany's housing consists of 1,214 units, with 63.3% being detached single-family homes ideal for those wanting space. Attached options, including duplexes and townhouses, make up 3.3% and offer a more compact, shared living style. Then there are the multifamily buildings in the area, and for those seeking flexibility, non-traditional options like mobile homes account for 1.7% of the housing landscape.

Housing units
1,214
1.0% year-over-year change
Housing types
Value Percent
1 unit, detached 768 63.3%
1 unit, attached 40 3.3%
3 or 4 units 86 7.1%
5 to 9 units 71 5.8%
10 to 19 units 84 6.9%
20 to 49 units 77 6.3%
50 or more units 67 5.5%
Mobile home 21 1.7%
Homes built since 2020
0
% year-over-year change

The age of buildings in Albany

In Albany, the median construction year is 1983. About 14.2% of homes were built before the 1940s, with another 2.7% going up by 1949. Most development happened in the second half of the 20th century.

Construction year breakdown by decade
Value Percent YoY change
Built in 1939 or earlier 173 14.2% -3.9%
Built between 1940 and 1949 33 2.7% -29.8%
Built between 1950 and 1959 12 1% -36.8%
Built between 1960 and 1969 162 13.3% 13.3%
Built between 1970 and 1979 198 16.3% 34.7%
Built between 1980 and 1989 100 8.2% 5.3%
Built between 1990 and 1999 96 7.9% -13.5%
Built between 2000 and 2009 338 27.8% -4.8%
Built between 2010 and 2019 102 8.4% -2.9%
As a renter, knowing when homes were built helps you understand the potential condition and design of rental units. Newer builds may have more contemporary layouts, while older homes can offer character or larger lots, depending on the area.

Albany occupancy rates

Out of the 1,168 occupied housing units in Albany, 66.8% are owner-occupied, while 33.2% are lived in by tenants. Meanwhile, 3.8% of all homes on the local market sit vacant.

Occupied housing units
1,168
1.6% year-over-year change
Occupancy breakdown
Renter occupied
388
Owner occupied
780
Value Percent YoY
change
Renter occupied 388 33.2% 12.8%
Owner occupied 780 66.8% -3.1%
Unoccupied housing units
3.8%
Unoccupied housing units refer to homes that are currently without residents—whether they're waiting for renters or owners, used seasonally, or simply unclaimed. A higher share of empty homes may mean more housing availability, while a low number can reflect a tighter market with more competition. This, along with the renter-vs.-owner mix, helps paint a clearer picture of what types of housing and services are likely to be available in the area.

Albany housing costs

Housing costs in Albany come to a median of $1,154 per month, while tenants specifically pay a median gross rent of $642.

Median housing costs per month
$1,154/month
This figure sums up typical monthly housing costs for all households in the area. If you own, it includes mortgage payments in addition to property taxes, insurance and HOA fees. If you rent, it accounts for rent plus extras like utilities. It’s useful for seeing how local living expenses stack up compared to other places.
Median gross rent in Albany
$642/month
Gross rent gives a more complete look at what renters actually pay, including not just base rent, but also utilities and fees. It’s a key number for evaluating rental affordability in your area of interest and understanding how it compares to nearby locations.

Education in Albany

Albany education at a glance

About 39.2% of the population in Albany went to high school, while 25.3% pursued college studies. Another 14.8% earned an associate degree and 13.2% hold a bachelor’s. Meanwhile, 5.2% went even further, earning a master’s or doctorate.

Education level
Value Percent YoY change
No high school 49 2.4% 13.9%
High school diploma 805 39.2% 7.0%
College diploma 519 25.3% 15.1%
Associate degree 304 14.8% -10.8%
Bachelor's degree 271 13.2% -14.0%
Graduate degree 106 5.2% 9.3%
A community’s education mix can offer insights into the local economy and housing market. Higher levels of education often align with more job opportunities and stable incomes, which can increase demand for homes and influence both rent prices and rental availability.

Income in Albany

How much people earn in Albany

The average annual household income in Albany was $86,210 in 2024, the most recent annual data available, according to the U.S. Census Bureau. This marked a -4.9% change from the previous year. At the same time, the median income stood at $69,167, reflecting a -8.3% shift over the same period.

Average household income in Albany
$86,210/year
-4.9% year-over-year change
Median household income in Albany
$69,167/year
-8.3% year-over-year change

Albany income by age

In Albany, households led by residents aged 25 to 44 — usually in the early to mid stages of their careers — have a median income of $113,516. Those with someone between 45 and 64 in charge, often well established professionally, earn $92,431 overall. Younger households, where the main provider is under 25 and just starting out, report a median income of $37,679, while those led by someone over 65, many of whom may be retired, have about $31,719 in earnings. Overall, 89.9% of the locals in this community live above the poverty line.

Income breakdown by age
Value YoY change
Under 25 $37,679 N/A
25 - 44 $113,516 -2.8%
45 - 64 $92,431 -4.7%
Over 65 $31,719 -6.1%
Above poverty level
2,423
Below poverty level
273
Value Percent YoY
change
Above poverty level 2,423 89.9% -7.2%
Below poverty level 273 10.1% 178.6%

Average renter income in Albany

To get a better sense of what renters earn on average in Albany, their median household income was $24,038 according to 2022 Census data. In addition, the rent-to-income ratio in the area, at 32%, shows what portion of their earnings goes toward housing expenses.

Renter median household income
$24,038
Rent-to-income ratio
32%
Understanding the rent-to-income ratio can help renters gauge if local housing costs align with their earnings. A ratio under 30% usually signals affordability, while exceeding this mark means rent is taking a larger-than-recommended bite out of income. That could make it harder for you to cover other costs like transportation, healthcare, or child care.

Employment in Albany

Workforce and job types in Albany

The job market in Albany is powered by 1,405 working residents, spread across a range of industries and roles. 65.6% of the working population are employed in professional or administrative positions, while 34.4% are in hands-on or service-based jobs. Also, 9.5% run their own businesses, 74% are employed by private companies, and 8.8% work in the public sector.

Workforce demographics

Working population
1,405
3.7% year-over-year change
White collar
922
Blue collar
483
Value Percent YoY change
White collar 922 65.6% -2.3%
Blue collar 483 34.4% 17.5%
Employer type
Self employees
9.5%
Private companies
74%
Governmental workers
8.8%
Not for profit companies
7.6%
Value Percent YoY change
Self employees 134 9.5% 32.7%
Private companies 1,040 74% 2.7%
Governmental workers 124 8.8% 0.0%
Not for profit companies 107 7.6% -8.6%
Unemployment rate
2.9%

Available workforce

The unemployment rate in Albany stands at 2.9%, representing the share of the workforce currently without a job and actively looking for one.

For renters, the unemployment rate helps paint a picture of job security and financial stability in the area. Rates around 4% to 5% are considered typical. A lower-than-average rate might suggest strong job prospects and a thriving local economy, while a higher rate could hint at fewer opportunities—both useful to consider when planning a move.

Transportation in Albany

How people get around in Albany

In Albany, the average commute time is 23 minutes. Commuting methods vary: 90.1% of residents travel by personal vehicle and 3.9% prefer to walk, while the remaining share relies on public transit or on two wheelers to get from A to B.

Commute time
23 min
-12.4% year-over-year change
Means of transportation
Value Percent YoY change
Car 1,240 90.1% 5.4%
Walk 54 3.9% -20.6%
Understanding how locals get to work can help you plan your own routine. High car usage might mean you’ll need a vehicle, while strong public transit or walkability could save you the hassle. Commute times also play a big role in quality of life—shorter trips can give you more time for the things you enjoy.

What is the median and average household income in Albany by zipcode?

Zipcode Population Number of households Median income Average income
56307 5,385 1,999 $84,097 $98,677

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FAQs about Albany demographics 

What is the total population of Albany?

Albany has a total population of 2,821 residents, according to the latest release from the U.S. Census Bureau: the 2019-2023 American Community Survey (ACS) 5-year estimates. This figure changed by +0.8% compared to a year ago.

What is the gender ratio in Albany?

The gender ratio in Albany is as follows:
  • 43.8% males (1,236 residents)
  • 56.2% females (1,585 residents)

What is the median age in Albany?

The median age in Albany is 34.

What is the age distribution of the population in Albany?

The age distribution in Albany is as follows:
  • Under 15: 24.3% (685 residents)
  • Ages 15-24: 12.6% (354 residents)
  • Ages 25-44: 27.4% (772 residents)
  • Ages 45-64: 17.4% (491 residents)
  • Over 65: 18.4% (519 residents)

What is the racial and ethnic makeup of Albany?

The racial and ethnic makeup of Albany is as follows:
  • White: 92.4% (2,606 residents)
  • Black or African American: 0.3% (8 residents)
  • American Indian and Alaska Native: 0% (0 residents)
  • Asian: 1.4% (40 residents)
  • Native Hawaiian and Other Pacific Islander: 0% (0 residents)
  • Two or More Races: 5.9% (167 residents)
  • Other: 0% (0 residents)

What percentage of the population in Albany are U.S.-born citizens?

U.S.-born citizens represent 97.1% of the population in Albany.

How many housing units are there in Albany?

There are 1,214 housing units in Albany, reflecting a +1.0% change compared to the previous year, according to the latest data from the U.S. Census Bureau.

How many households are in Albany and what is the average household size?

Albany has a total of 1,168 households, with an average of 2 people in each.

What is the median household income in Albany?

Albany has a median household income of $69,167, representing a -8.3% shift from the previous year, according to the U.S. Census Bureau.

What is the employment rate and job market overview for Albany?

The employment rate is 97.1% in Albany, with a workforce of 1,405 residents. Here’s a detailed breakdown of the local job market:

Job types:
  • White-collar workers: 65.6% (922 residents)
  • Blue-collar workers: 34.4% (483 residents)

Places of employment:
  • Self-employed: 9.5% (134 residents)
  • Private companies: 74% (1,040 residents)
  • Governmental workers: 8.8% (124 residents)
  • Not-for-profit companies: 7.6% (107 residents)

Data source & methodology

The demographic data on this page was sourced from the latest U.S. Census Bureau release—the 2019–2023 American Community Survey (ACS) 5-year estimates.

The information, issued annually, is compiled and published by the Point2Homes Research Team as soon as new data becomes available.

No representation, guarantee, or warranty is made concerning the accuracy or completeness of modified or aggregated information for particular areas.

Page last updated: September 2025