Albany, NY—12206
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 $210,000, with a year-over-year change of 6.7%. This indicates that home prices in Albany, NY are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $210,000 | 6.7% |
| Single Family | $211,000 | 7.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $163,000 | 7.2% |
3 Bed | $228,000 | 8.1% |
4 Bed | $215,000 | 6.4% |
| 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 $1,480, with a year-over-year rent change of 13.8%. Per bedroom, the median rent as of July '25 in Albany, NY is studios: $1,270, 1-bedrooms: $1,200, 2-bedrooms: $1,400, 3-bedrooms: $1,660, 4-bedrooms: $1,980. The most common rental property sizes in Albany, NY are 2-bedroom and 1-bedroom, accounting for 35.4% and 28.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,480 | $1,480 |
| Studio Rent | $925 | $1,270 |
| 1 Bed Rent | $1,180 | $1,200 |
| 2 Bed Rent | $1,450 | $1,400 |
| 3 Bed Rent | $1,650 | $1,660 |
| 4 Bed Rent | $1,850 | $1,980 |
% 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 55. This is a decrease of -24.0% 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 9.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $221,000 | 85.0% |
Listing Count | 23 | -18.0% |
| Listings as % of Homes | 0.2% | -18.0% |
Days on Market | 55 | -24.0% |
Demographics — Albany, NY
As of the latest ACS Survey released in 2023, Albany, NY has a population of 14,600, which has decreased by -8.5% over the past 5 years. Albany, NY is a moderately popular place for families, as children make up 20.4% of the population. The area has a moderately educated workforce, with 26.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 14,600 | -8.5% |
% Under 18 | 20.4% | -29.2% |
% Seniors | 10.8% | -1.8% |
% WFH | 4.8% | 166.7% |
% w/ College Degree | 26.1% | 57.2% |
As of the latest ACS Survey released in 2023, Albany, NY is a predominantly black area, with 42.3% of the population identifying as black. The black population has shrunk by 13.1% in the last 5 years. The second most common race or ethnicity in Albany, NY is white, making up 26.7% of the population. Foreign-born residents account for 22.1% of the population in Albany, NY, and this percentage has increased by 18.2% 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 | 26.7% | 8.1% |
% Black | 42.3% | -13.1% |
% Hispanic | 14.7% | -2.0% |
% Asian | 10.4% | 73.3% |
% Foreign Born | 22.1% | 18.2% |
Mortgage and Risk — Albany, NY
According to HUD data as of 2023, there were 136 mortgage originations in Albany, NY, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Albany, NY. Investor activity is high, as 18.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 136 |
% Conventional Loans | 78.0% |
% Government Loans | 22.0% |
% Investor Loans | 18.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Albany, NY
As of 2024, the percent of homes in Albany, NY under the Section 8 program is 17.8%. 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, 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 | 1,218 |
Total Units Section 8 | 854 |
% Rentals under Section 8 | 17.8% |
% Occupied Section 8 | 66.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $30 | $1,180 | $1,210 |
| 2 Bedroom | $10 | $1,450 | $1,460 |
| 3 Bedroom | $110 | $1,650 | $1,760 |
| 4 Bedroom | $90 | $1,850 | $1,940 |
Affordability — Albany, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.5 |
| Median Home Price | $210,000 |
| Median Household Income | $38,900 |