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These days, finding an affordable place to live in the Colonie area can be challenging. Home prices in Colonie are now at a median cost of $297,649, lower than the New York average of $610,895.
The average cost of rent is $1,371/mo in Colonie, primarily driven by the current value of real estate in the Colonie area. In Colonie, 19.79% of households rent, and 39.78% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Colonie is $8,737 per month. Households that rent pay about 15.70% of their income on rent here. Colonie’s most expensive areas are in the eastern regions, while the cheapest areas are in the southern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Westmere, NY: higher priced homes
- Guilderland, NY: higher priced homes
- Latham, NY: higher priced homes
- Albany, NY: equally priced homes
- Slingerlands, NY: higher priced homes
- Menands, NY: equally priced homes
- Watervliet, NY: less expensive homes
- Cohoes, NY: less expensive homes
- Schenectady, NY: less expensive homes
- Green Island, NY: less expensive homes
Cities with Similar Populations
- Haw River, NC: less expensive homes
- Seabrook, NH: higher priced homes
- Scottsburg, IN: less expensive homes
- Scottdale, PA: less expensive homes
- Scotia, NY: less expensive homes
- Schuyler, NE: less expensive homes
- Savannah, MO: less expensive homes
- Satsuma, AL: less expensive homes
- Salem, MO: less expensive homes
- Salem, AL: less expensive homes
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