Albany, GA—31707
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 $137,000, with a year-over-year change of -5.2%. This indicates that home prices in Albany, GA are decreasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $137,000 | -5.3% |
| Single Family | $138,000 | -4.8% |
| Condos | $124,000 | -6.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $79,000 | -4.8% |
3 Bed | $136,000 | -5.6% |
4 Bed | $225,000 | -0.9% |
| 5 Bed | $311,000 | -3.1% |
% of Housing Stock
Rental Trends — Albany, GA
As of July '25, Rentcast reports the average rent in Albany, GA is $1,100, with a year-over-year rent change of 12.7%. Per bedroom, the median rent as of July '25 in Albany, GA is studios: $1,110, 1-bedrooms: $828, 2-bedrooms: $837, 3-bedrooms: $1,230, 4-bedrooms: $1,970. The most common rental property sizes in Albany, GA are 2-bedroom and 3-bedroom, accounting for 50.2% and 26.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $975 | $1,100 |
| Studio Rent | $1,100 | $1,110 |
| 1 Bed Rent | $695 | $828 |
| 2 Bed Rent | $800 | $837 |
| 3 Bed Rent | $1,200 | $1,230 |
| 4 Bed Rent | $1,700 | $1,970 |
% 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 94. This is a increase of 11.0% 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 30.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $170,000 | 29.0% |
Listing Count | 138 | 16.0% |
| Listings as % of Homes | 0.4% | 16.0% |
Days on Market | 94 | 11.0% |
Demographics — Albany, GA
As of the latest ACS Survey released in 2023, Albany, GA has a population of 23,300, which has decreased by -10.6% over the past 5 years. Albany, GA is a moderately popular place for families, as children make up 24.7% of the population. The area has a moderately educated workforce, with 26.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,300 | -10.6% |
% Under 18 | 24.7% | -1.6% |
% Seniors | 16.0% | 1.3% |
% WFH | 5.9% | 43.9% |
% w/ College Degree | 26.8% | 7.6% |
As of the latest ACS Survey released in 2023, Albany, GA is a predominantly black area, with 62.9% of the population identifying as black. The black population has grown by 3.6% in the last 5 years. The second most common race or ethnicity in Albany, GA is white, making up 30.7% of the population. Foreign-born residents account for 1.8% of the population in Albany, GA, and this percentage has decreased by 55.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 30.7% | -5.0% |
% Black | 62.9% | 3.6% |
% Hispanic | 2.5% | -13.8% |
% Asian | 1.4% | -33.3% |
% Foreign Born | 1.8% | -55.0% |
Mortgage and Risk — Albany, GA
According to HUD data as of 2023, there were 272 mortgage originations in Albany, GA, of which 56.0% of loans were conventional mortgages. The average loan-to-value was 80.0%, with 40.0% above 90% LTV (very high). This implies large mortgage risk in Albany, GA. Investor activity is high, as 26.0% 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 | 272 |
% Conventional Loans | 56.0% |
% Government Loans | 44.0% |
% Investor Loans | 26.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Albany, GA
As of 2024, the percent of homes in Albany, GA under the Section 8 program is 5.6%. 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, 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 | 568 |
Total Units Section 8 | 399 |
% Rentals under Section 8 | 5.6% |
% Occupied Section 8 | 62.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $385 | $695 | $1,080 |
| 2 Bedroom | $430 | $800 | $1,230 |
| 3 Bedroom | $460 | $1,200 | $1,660 |
| 4 Bedroom | $300 | $1,700 | $2,000 |
Affordability — Albany, GA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $137,000 |
| Median Household Income | $49,200 |