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I lived in the Albany Capital District for four years as a student. Here are my thoughts:
I loved the wealth of outdoor activities and close-by escapes. Whether it was hiking in the Adirondacks, kayaking on Saratoga Lake, or sunbathing at Lake George. I hiked, cross-country skied, biked, rode horses, kayaked, ice climbed, and rock climbed while living there, and I didn't even take advantage of half of what I could have done.
If you ever want to get away, you are super close to Montreal, Boston, NYC, and Lake Champlain, all popular vacation spots.
The fall is wonderful. It is long and cool; the colors on the trees are amazing; and you can get the most incredible apples everywhere.
Compared to a lot of the east coast, there is a friendlier culture (in my opinion).
For an area its size, there are quite a number of opportunities to enjoy the performing arts. Particularly with all of the colleges and universities in the area, you can always find good, relatively inexpensive entertainment.