Albany, GA—31705
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Albany, GA
As of Oct '25, the median home price in Albany, GA is $87,000, with a year-over-year change of -13.9%. This indicates that home prices in Albany, GA are decreasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $87,000 | -13.9% |
| Single Family | $87,000 | -13.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $40,000 | -21.6% |
3 Bed | $91,000 | -11.7% |
4 Bed | $149,000 | -2.6% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Albany, GA
As of July '25, Rentcast reports the average rent in Albany, GA is $873, with a year-over-year rent change of 3.6%. Per bedroom, the median rent as of July '25 in Albany, GA is studios: $462, 1-bedrooms: $613, 2-bedrooms: $805, 3-bedrooms: $1,050, 4-bedrooms: $1,260. The most common rental property sizes in Albany, GA are 3-bedroom and 2-bedroom, accounting for 53.6% and 30.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $850 | $873 |
| Studio Rent | $375 | $462 |
| 1 Bed Rent | $595 | $613 |
| 2 Bed Rent | $695 | $805 |
| 3 Bed Rent | $995 | $1,050 |
| 4 Bed Rent | $1,240 | $1,260 |
% of Rental Stock
Property Listings — Albany, GA
As of Oct '25, Realtor.com reports that the median days on market for a home in Albany, GA is 60. This is a decrease of -48.0% 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 21.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $89,000 | 2.0% |
Listing Count | 76 | -15.0% |
| Listings as % of Homes | 0.2% | -15.0% |
Days on Market | 60 | -48.0% |
Demographics — Albany, GA
As of the latest ACS Survey released in 2023, Albany, GA has a population of 30,900, which has decreased by -5.0% over the past 5 years. Albany, GA is a popular place for families, as children make up 26.7% of the population. The area has a poorly educated workforce, with 12.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 30,900 | -5.0% |
% Under 18 | 26.7% | 3.5% |
% Seniors | 14.3% | 24.3% |
% WFH | 5.4% | -6.9% |
% w/ College Degree | 12.1% | 11.0% |
As of the latest ACS Survey released in 2023, Albany, GA is a predominantly black area, with 68.5% of the population identifying as black. The black population has shrunk by 2.6% in the last 5 years. The second most common race or ethnicity in Albany, GA is white, making up 22.6% of the population. Foreign-born residents account for 3.0% of the population in Albany, GA, and this percentage has increased by 57.9% 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 | 22.6% | -5.8% |
% Black | 68.5% | -2.6% |
% Hispanic | 6.0% | 46.3% |
% Asian | 0.4% | ∞% |
% Foreign Born | 3.0% | 57.9% |
Mortgage and Risk — Albany, GA
According to HUD data as of 2023, there were 172 mortgage originations in Albany, GA, of which 57.0% of loans were conventional mortgages. The average loan-to-value was 79.0%, with 36.0% above 90% LTV (very high). This implies large mortgage risk in Albany, GA. Investor activity is high, as 24.0% of loans were by investors. 18.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 172 |
% Conventional Loans | 57.0% |
% Government Loans | 43.0% |
% Investor Loans | 24.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 18.0% |
Loan Activity
Rentals and Section 8 — Albany, GA
As of 2024, the percent of homes in Albany, GA under the Section 8 program is 15.5%. 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, GA, 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 | 851 |
Total Units Section 8 | 837 |
% Rentals under Section 8 | 15.5% |
% Occupied Section 8 | 73.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $245 | $595 | $840 |
| 2 Bedroom | $255 | $695 | $950 |
| 3 Bedroom | $285 | $995 | $1,280 |
| 4 Bedroom | $300 | $1,240 | $1,540 |
Affordability — Albany, GA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.5 |
| Median Home Price | $87,000 |
| Median Household Income | $37,200 |