Albany, NY—12205
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 $319,000, with a year-over-year change of 4.7%. This indicates that home prices in Albany, NY are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $319,000 | 4.7% |
| Single Family | $319,000 | 4.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $248,000 | 6.9% |
3 Bed | $318,000 | 4.6% |
4 Bed | $365,000 | 4.3% |
| 5 Bed | $396,000 | 4.8% |
% of Housing Stock
Rental Trends — Albany, NY
As of July '25, Rentcast reports the average rent in Albany, NY is $1,940, with a year-over-year rent change of 3.2%. Per bedroom, the median rent as of July '25 in Albany, NY is studios: $1,320, 1-bedrooms: $1,120, 2-bedrooms: $1,890, 3-bedrooms: $2,240, 4-bedrooms: $2,150. The most common rental property sizes in Albany, NY are 2-bedroom and 1-bedroom, accounting for 50.2% and 28.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $1,940 |
| Studio Rent | $1,320 | $1,320 |
| 1 Bed Rent | $1,080 | $1,120 |
| 2 Bed Rent | $1,800 | $1,890 |
| 3 Bed Rent | $2,300 | $2,240 |
| 4 Bed Rent | $1,400 | $2,150 |
% 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 26. This is a decrease of -10.0% 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 16.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $317,000 | 10.0% |
Listing Count | 76 | 0.0% |
| Listings as % of Homes | 0.4% | 0.0% |
Days on Market | 26 | -10.0% |
Demographics — Albany, NY
As of the latest ACS Survey released in 2023, Albany, NY has a population of 25,900, which has decreased by -4.8% over the past 5 years. Albany, NY is a moderately popular place for families, as children make up 19.8% of the population. The area has a moderately educated workforce, with 35.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 25,900 | -4.8% |
% Under 18 | 19.8% | 8.2% |
% Seniors | 21.2% | 12.8% |
% WFH | 13.1% | 385.2% |
% w/ College Degree | 35.8% | 11.2% |
As of the latest ACS Survey released in 2023, Albany, NY is a predominantly white area, with 73.4% of the population identifying as white. The white population has shrunk by 9.9% in the last 5 years. The second most common race or ethnicity in Albany, NY is asian, making up 8.5% of the population. Foreign-born residents account for 12.8% of the population in Albany, NY, and this percentage has increased by 6.7% 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 | 73.4% | -9.9% |
% Black | 8.0% | 60.0% |
% Hispanic | 5.1% | 82.1% |
% Asian | 8.5% | 4.9% |
% Foreign Born | 12.8% | 6.7% |
Mortgage and Risk — Albany, NY
According to HUD data as of 2023, there were 510 mortgage originations in Albany, NY, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 21.0% 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 | 510 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% 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 8.3%. 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. 1-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Albany, NY, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 274 |
Total Units Section 8 | 273 |
% Rentals under Section 8 | 8.3% |
% Occupied Section 8 | 87.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $270 | $1,080 | $1,350 |
| 2 Bedroom | -$170 | $1,800 | $1,630 |
| 3 Bedroom | -$340 | $2,300 | $1,960 |
| 4 Bedroom | $760 | $1,400 | $2,160 |
Affordability — Albany, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $319,000 |
| Median Household Income | $89,300 |