Albany, NY—12202
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Albany, NY
As of Oct '25, the median home price in Albany, NY is $173,000, with a year-over-year change of 5.1%. This indicates that home prices in Albany, NY are increasing. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $173,000 | 5.1% |
| Single Family | $174,000 | 4.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $153,000 | 4.1% |
3 Bed | $175,000 | 4.8% |
4 Bed | $199,000 | 4.2% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Albany, NY
As of July '25, Rentcast reports the average rent in Albany, NY is $1,530, with a year-over-year rent change of 2.7%. Per bedroom, the median rent as of July '25 in Albany, NY is studios: $1,100, 1-bedrooms: $1,280, 2-bedrooms: $1,500, 3-bedrooms: $1,830, 4-bedrooms: $1,920. The most common rental property sizes in Albany, NY are 2-bedroom and 1-bedroom, accounting for 48.0% and 30.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,450 | $1,530 |
| Studio Rent | $1,100 | $1,100 |
| 1 Bed Rent | $1,200 | $1,280 |
| 2 Bed Rent | $1,380 | $1,500 |
| 3 Bed Rent | $1,800 | $1,830 |
| 4 Bed Rent | $2,000 | $1,920 |
% of Rental Stock
Property Listings — Albany, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Albany, NY is 117. This is a increase of 88.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $172,000 | 12.0% |
Listing Count | 15 | -10.0% |
| Listings as % of Homes | 0.2% | -10.0% |
Days on Market | 117 | 88.0% |
Demographics — Albany, NY
As of the latest ACS Survey released in 2023, Albany, NY has a population of 9,500, which has decreased by -1.3% over the past 5 years. Albany, NY is a moderately popular place for families, as children make up 20.2% of the population. The area has a moderately educated workforce, with 32.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 9,500 | -1.3% |
% Under 18 | 20.2% | -12.2% |
% Seniors | 11.1% | 3.7% |
% WFH | 10.8% | 1,442.9% |
% w/ College Degree | 32.6% | 42.4% |
As of the latest ACS Survey released in 2023, Albany, NY is a predominantly black area, with 43.3% of the population identifying as black. The black population has shrunk by 31.5% in the last 5 years. The second most common race or ethnicity in Albany, NY is white, making up 28.3% of the population. Foreign-born residents account for 14.5% of the population in Albany, NY, and this percentage has increased by 130.2% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 28.3% | 28.6% |
% Black | 43.3% | -31.5% |
% Hispanic | 15.2% | 28.8% |
% Asian | 6.7% | 272.2% |
% Foreign Born | 14.5% | 130.2% |
Mortgage and Risk — Albany, NY
According to HUD data as of 2023, there were 69 mortgage originations in Albany, NY, of which 72.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Albany, NY. Investor activity is low, as 4.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 69 |
% Conventional Loans | 72.0% |
% Government Loans | 28.0% |
% Investor Loans | 4.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Albany, NY
As of 2024, the percent of homes in Albany, NY under the Section 8 program is 21.2%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Albany, NY, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 1,512 |
Total Units Section 8 | 730 |
% Rentals under Section 8 | 21.2% |
% Occupied Section 8 | 69.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$170 | $1,200 | $1,030 |
| 2 Bedroom | -$130 | $1,380 | $1,250 |
| 3 Bedroom | -$290 | $1,800 | $1,510 |
| 4 Bedroom | -$340 | $2,000 | $1,660 |
Affordability — Albany, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $173,000 |
| Median Household Income | $49,700 |