Albany Metro Area

Albany serves as the capital of New York State, and the metropolitan area is home to roughly 900,000 people. It is among the most well-educated, affluent, and fastest-growing areas in upstate New York, buoyed, in part, by the presence of state government, which has helped attract skilled workers and insulate the regional economy during economic downturns. Albany has also partnered with local academic institutions and New York State to successfully develop a high-tech cluster, largely focused on nanotechnology microchip circuits, making up part of the greater “Tech Valley” region along the Hudson River.

Economic and Demographic Trends
Albany Glens Falls* Utica* New York State USA
Population1 899,000 127,000 292,000 20,201,000 331,449,000
Pop growth, 10-year change1 3.3% -1.5% -2.4% 4.2% 7.4%
GDP, billions1 $66 $7 $13 $1,725 $20,894
Job growth, 5-year change2 -4.4% -7.8% -5.6% -4.1% 1.2%
Median household income1 $72,000 $63,200 $56,000 $72,600 $67,000
Median home price1 $210,000 $175,000 $140,000 $350,000 $250,000
Pop share age 25+ with BA+1 41.0% 30.1% 26.9% 39.4% 35.1%

1 2020

2 2021

* Neighboring Metros

Sources: U.S. Census Bureau; U.S. Bureau of Labor Statistics; U.S. Bureau of Economic Analysis; IPUMS USA-University of Minnesota. Data retrieved through, Moody's, or directly from source.

Reports & Analysis
Regional Employment Trends (September 8, 2023)
LSE Blog: Businesses Want Remote Work, Just Not as Much (August 23, 2023)
Press Briefing: The Region’s Recovery from the Pandemic Recession (April 13, 2023)
LSE Blog: The Tri-State Region’s Recovery from the Pandemic Recession Three Years On (April 13, 2023)
Richard Deitz's Briefing on Regional Economic Conditions (March 7, 2023, New York State)
Press Briefing: Employment and Housing Conditions in the Second District (Nov 10, 2022)
A Look at the New York-Northern New Jersey Region’s Pandemic Housing Boom (Nov 10, 2022)
Jaison Abel's Briefing on Economic Conditions in the Region (Nov 5, 2021)
Severe Supply Disruptions Are Impeding Business Activity in the Region (Oct 21, 2021)
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