Quick facts: Altamont, NY

Quick Facts

113.7
Cost of Living
above US average
1,648
Population
0.61
Crime Rate per 1000
below US average
$104,350
Median Income
above US average
$367,900
Median House Price
above US average
$2350.0
Average Rent
above US average
4%
Poverty Rate
below US average
3.2%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $104,350.

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Income Needed to Buy

βœ— Stretch
$115k/year
Based on $367,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $115k vs median $104,350
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Income Needed to Rent

βœ“ Affordable
$101k/year
Based on $2350.0/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($104,350) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Altamont, NY

Altamont is a charming village located in Albany County, New York. Nestled in the picturesque Helderberg Mountains, it offers residents and visitors stunning natural views and a quaint, small-town atmosphere. The village is known for its historic architecture, with several buildings dating back to the 19th century, which contribute to its unique character and charm. With a population of just over 1,700, Altamont fosters a strong sense of community. The town hosts a variety of local events throughout the year, including agricultural fairs and seasonal festivals, reflecting the rich history and culture of the area. Outdoor enthusiasts can enjoy recreational activities like hiking, biking, and fishing in the surrounding parks and trails. Altamont is conveniently located about 12 miles southwest of Albany, providing easy access to the amenities of the capital region, including shopping, dining, and entertainment. The village is served by the Guilderland Central School District, which is known for its commitment to education and community involvement. Overall, Altamont represents a peaceful retreat with a strong community spirit, making it an attractive place to live or visit.

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