When people think of New York, they often think of the famed city on the water, overlooking the Brooklyn Bridge. What often needs to be remembered is that as great as NYC is, New York is home to several notable cities you should consider if the Empire State of New York is the next place you wish to find real estate to buy and call home. 

Albany is one of those cities we’re talking about, where history meets modern, and possibilities are limitless. If you’re considering whether Albany is the right location to live in or purchase investment real estate, know it is better than you think. Being a resident of Albany provides a broad range of advantages, such as watching the game of hockey, indulging in apple cider donuts, or enjoying the breathtaking surroundings. Albany has beautiful architecture, charming small-town charm, and plenty of outdoor recreation opportunities to discover and take advantage of. There are, however, several disadvantages to take into consideration before making the decision to move. NY State MLS can assist you if you’re an agent searching for homes in Albany, NY, or a broker searching for houses for sale. Read on for a complete overview of the benefits and cons of Albany to decide if the city is a good fit for you.

Cost Of Living Is Very Reasonable

Albany is renowned for its affordable living cost, making it the perfect place to live for those seeking to cut costs. Prices for housing in Albany are considerably less expensive than other cities in the Northeast.  The median home price is $230,000, and the average cost for a two-bedroom home is $1,635, making renting or purchasing a house reasonably feasible. It also has a lower total cost of living, including groceries and healthcare costs, and transportation is relatively affordable compared to other cities within the region.

Plenty Of Access To Outdoor Activities 

A beautiful view of the Hudson River runs through Albany and offers residents stunning views and a variety of water-based activities like fishing, kayaking, and boating. Furthermore, many green spaces and parks throughout the city, such as Washington Park and the Albany Pine Bush Preserve, provide birdwatching, hiking, and picnicking possibilities. The close Adirondack Mountains are a favorite spot for outdoor enthusiasts, offering all-year-round activities like skiing or snowboarding and snowshoeing in winter and hiking, camping, and boating during the summer.

Hockey Is The Most Popular Sport By-Far

Albany is a great location to live in when you are a hockey fan. Albany has a thriving hockey tradition and has an extensive history of support for the sport. In the city, you’ll find Albany Devils. Albany Devils is a professional hockey team that has established a large local community of fans. The team is based at the Times Union Center, which frequently hosts hockey tournaments and events, such as the NCAA Division I and AHL All-Star Games. Alongside playing the Albany Devils, the city is home to several local adult and youth hockey teams, offering an opportunity for all residents at different levels to participate in the sport.

Albany Is Very Close To Several Major Cities

Boston, New York City, and Montreal are only a few hours’ travel time or by train from Albany, making it a perfect spot. Make the most of major cities’ entertainment and cultural options while enjoying Albany’s tranquility and lifestyle. Albany is also close to popular vacation destinations, such as The Adirondack Mountains, Lake George, and the Catskills, providing residents easy access to all-year-round outdoor recreation activities. Albany’s central location, as well as its accessibility to major highways and airports, makes it a central city hub for business, travel, and leisure activities, making it a desirable city to move to.

The Scenery Is Breathtaking 

A beautiful blend of history and modernity is an excellent description of the capital of New York State. The city comprises breathtaking architecture, such as the famous Empire State Plaza, which houses the state’s government offices and is set amid sculptures and reflecting pools. Furthermore, the city lies close to the Hudson River, which provides breathtaking views of the river and the mountains surrounding it. The town is stunning in the fall when the leaves change into stunning red, orange, and yellow hues. Suppose you’re walking through parks in Albany, wandering around its historic neighborhoods, or observing the splendor of its capitol-style structure. In that case, Albany has a charm that is hard to resist.

A Few Potential Downsides To Albany

Somewhat Unbearable Snowy Winters

There is a typical annual amount of snow for Albany, averaging 59 inches, and during winter, snowstorms can cause travel delays and occasionally close schools and businesses. In winter, the temperature varies between 34 and 35 degrees Fahrenheit, and January is the coldest month, with lows as low as 14 degrees on average. The city takes steps to cope with cold winter days, including clearing sidewalks and streets and sanding roads; however, residents must still be aware of their surroundings to remain warm and safe. Read this article about what you can do to make your property ready for winter.

Property Taxes Can Be Pretty High

On average, property residents within Albany County pay 1.74 percent of their home’s fair market value as a property tax. Albany has a high property tax rate compared to other parts of the country. Residents of Albany might have to pay a substantial amount of their earnings towards taxes on their property each year, which makes it hard to pay for other costs. The higher property taxes are partially due to the costs of running the city’s administration, including the funding of roads, public schools, and other vital services.

Limited Transportation Options Available

As compared to bigger cities, Albany has limited transportation alternatives. The city is served by an accessible public bus system (CDTA), which allows people to travel within and adjacent regions. The bus system is limited in its routes and is less frequent and reliable than many residents would prefer. There is also a train station that connects to major cities in the Northeast; however, train services can be costly and could only be an option for a few. If you are not in the city, you should consider purchasing a car for travel.

It Gets Pretty Humid In The Summer Months

Albany has high humidity levels during summer, making hot temperatures feel more uncomfortable. The humidity levels in the city may rise to uncomfortable amounts, especially during July and August, typically the hottest times of the year. They average about 82 degrees Fahrenheit. The high humidity can make it difficult to remain comfortable and relaxed without air conditioning and cause various other problems like mildew and mold development. Learning more about reducing humidity at home to protect your property and yourself is essential.

Several Large Colleges In The Area

While some might consider a significant presence at a college an advantage, Albany has several colleges across the city, bringing in many students. You can find Albany Medical College, the University of Albany, Albany Medical College, Albany Law School, The College of Saint Rose, Maria College, Bryant, and Stratton College, just to mention some. With various colleges within and within the city, there are bound to be numerous young professionals and students, which could lead to increased traffic and noise.

Overall, Albany Is A Wonderful Place To Buy Real Estate

The city of Albany is a truly unique experience with advantages and disadvantages. Although the cold winters and the high cost of property taxes aren’t easy, the city’s affordability and excellent location can offset these. The decision to move to Albany is a matter of your personal preferences. However, those who reside here can enjoy a charming and lively city filled with adventure and opportunity.