Albany, NY—12203
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 $325,000, with a year-over-year change of 4.9%. This indicates that home prices in Albany, NY are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $325,000 | 4.9% |
| Single Family | $329,000 | 4.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $222,000 | 0.5% |
2 Bed | $257,000 | 4.9% |
3 Bed | $324,000 | 4.5% |
4 Bed | $382,000 | 5.2% |
| 5 Bed | $452,000 | 5.6% |
% of Housing Stock
Rental Trends — Albany, NY
As of July '25, Rentcast reports the average rent in Albany, NY is $1,760, with a year-over-year rent change of 3.5%. Per bedroom, the median rent as of July '25 in Albany, NY is studios: $1,150, 1-bedrooms: $1,390, 2-bedrooms: $1,670, 3-bedrooms: $1,770, 4-bedrooms: $2,270. The most common rental property sizes in Albany, NY are 1-bedroom and 2-bedroom, accounting for 40.1% and 31.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,650 | $1,760 |
| Studio Rent | $1,150 | $1,150 |
| 1 Bed Rent | $1,350 | $1,390 |
| 2 Bed Rent | $1,650 | $1,670 |
| 3 Bed Rent | $1,650 | $1,770 |
| 4 Bed Rent | $2,200 | $2,270 |
% 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 36. This is a decrease of -28.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 20.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $312,000 | -7.0% |
Listing Count | 81 | 18.0% |
| Listings as % of Homes | 0.3% | 18.0% |
Days on Market | 36 | -28.0% |
Demographics — Albany, NY
As of the latest ACS Survey released in 2023, Albany, NY has a population of 30,100, which has decreased by -3.7% over the past 5 years. Albany, NY is a less popular place for families, as children make up 11.6% of the population. The area has a highly educated workforce, with 54.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 30,100 | -3.7% |
% Under 18 | 11.6% | -7.2% |
% Seniors | 17.3% | 7.5% |
% WFH | 16.0% | 492.6% |
% w/ College Degree | 54.3% | 8.8% |
As of the latest ACS Survey released in 2023, Albany, NY is a predominantly white area, with 69.3% of the population identifying as white. The white population has shrunk by 6.7% in the last 5 years. The second most common race or ethnicity in Albany, NY is black, making up 10.4% of the population. Foreign-born residents account for 15.5% of the population in Albany, NY, and this percentage has increased by 36.0% 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 | 69.3% | -6.7% |
% Black | 10.4% | 6.1% |
% Hispanic | 6.8% | 11.5% |
% Asian | 8.3% | 15.3% |
% Foreign Born | 15.5% | 36.0% |
Mortgage and Risk — Albany, NY
According to HUD data as of 2023, there were 419 mortgage originations in Albany, NY, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 24.0% above 90% LTV (very high). This implies large mortgage risk in Albany, NY. Investor activity is low, as 2.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 419 |
% Conventional Loans | 91.0% |
% Government Loans | 9.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Albany, NY
As of 2024, the percent of homes in Albany, NY under the Section 8 program is 8.8%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Albany, NY, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 577 |
Total Units Section 8 | 574 |
% Rentals under Section 8 | 8.8% |
% Occupied Section 8 | 85.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $40 | $1,350 | $1,390 |
| 2 Bedroom | $30 | $1,650 | $1,680 |
| 3 Bedroom | $370 | $1,650 | $2,020 |
| 4 Bedroom | $30 | $2,200 | $2,230 |
Affordability — Albany, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $325,000 |
| Median Household Income | $80,100 |