Albany, GA—31721
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 $234,000, with a year-over-year change of -0.3%. This indicates that home prices in Albany, GA are flat. 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 | $234,000 | -0.3% |
| Single Family | $234,000 | -0.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $128,000 | -2.3% |
3 Bed | $202,000 | -1.0% |
4 Bed | $329,000 | 0.9% |
| 5 Bed | $446,000 | 1.1% |
% of Housing Stock
Rental Trends — Albany, GA
As of July '25, Rentcast reports the average rent in Albany, GA is $1,210, with a year-over-year rent change of 10.0%. Per bedroom, the median rent as of July '25 in Albany, GA is 1-bedrooms: $1,060, 2-bedrooms: $942, 3-bedrooms: $1,240, 4-bedrooms: $1,850. The most common rental property sizes in Albany, GA are 3-bedroom and 2-bedroom, accounting for 65.5% and 12.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,140 | $1,210 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $799 | $1,060 |
| 2 Bed Rent | $1,050 | $942 |
| 3 Bed Rent | $1,240 | $1,240 |
| 4 Bed Rent | $1,800 | $1,850 |
% 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 61. This is a increase of 5.0% 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 20.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $256,000 | -5.0% |
Listing Count | 88 | 15.0% |
| Listings as % of Homes | 0.5% | 15.0% |
Days on Market | 61 | 5.0% |
Demographics — Albany, GA
As of the latest ACS Survey released in 2023, Albany, GA has a population of 19,700, which has decreased by -4.5% over the past 5 years. Albany, GA is a moderately popular place for families, as children make up 21.6% of the population. The area has a moderately educated workforce, with 38.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 19,700 | -4.5% |
% Under 18 | 21.6% | -3.1% |
% Seniors | 21.1% | 24.1% |
% WFH | 10.5% | 320.0% |
% w/ College Degree | 38.3% | -2.0% |
As of the latest ACS Survey released in 2023, Albany, GA is a predominantly black area, with 60.1% of the population identifying as black. The black population has grown by 23.9% in the last 5 years. The second most common race or ethnicity in Albany, GA is white, making up 35.9% of the population. Foreign-born residents account for 2.1% of the population in Albany, GA, and this percentage has decreased by 16.0% 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 | 35.9% | -19.5% |
% Black | 60.1% | 23.9% |
% Hispanic | 0.7% | -82.5% |
% Asian | 1.3% | -31.6% |
% Foreign Born | 2.1% | -16.0% |
Mortgage and Risk — Albany, GA
According to HUD data as of 2023, there were 249 mortgage originations in Albany, GA, of which 52.0% of loans were conventional mortgages. The average loan-to-value was 79.0%, with 43.0% above 90% LTV (very high). This implies large mortgage risk in Albany, GA. Investor activity is low, as 9.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 249 |
% Conventional Loans | 52.0% |
% Government Loans | 48.0% |
% Investor Loans | 9.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Albany, GA
As of 2024, the percent of homes in Albany, GA under the Section 8 program is 4.7%. 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 | 120 |
Total Units Section 8 | 120 |
% Rentals under Section 8 | 4.7% |
% Occupied Section 8 | 61.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $351 | $799 | $1,150 |
| 2 Bedroom | $250 | $1,050 | $1,300 |
| 3 Bedroom | $520 | $1,240 | $1,760 |
| 4 Bedroom | $310 | $1,800 | $2,110 |
Affordability — Albany, GA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $234,000 |
| Median Household Income | $78,300 |