If you are using Python 3.4 or above, you could use the statistics module:
from statistics import mean
average = mean(value[1] for value in array)
Or if you're using a version of Python older than 3.4:
average = sum(value[1] for value in array) / len(array)
These solutions both use a nice feature of Python called a generator expression. The loop
value[1] for value in array
creates a new sequence in a timely and memory efficient manner. See PEP 289 -- Generator Expressions.
If you're using Python 2, and you're summing integers, we will have integer division, which will truncate the result, e.g:
>>> 25 / 4
6
>>> 25 / float(4)
6.25
To ensure we don't have integer division we could set the starting value of sum to be the float value 0.0. However, this also means we have to make the generator expression explicit with parentheses, otherwise it's a syntax error, and it's less pretty, as noted in the comments:
average = sum((value[1] for value in array), 0.0) / len(array)
It's probably best to use fsum from the math module which will return a float:
from math import fsum
average = fsum(value[1] for value in array) / len(array)