Albany, NY—12208
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 $313,000, with a year-over-year change of 3.8%. This indicates that home prices in Albany, NY are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $313,000 | 3.8% |
| Single Family | $313,000 | 3.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $270,000 | 3.8% |
3 Bed | $307,000 | 3.4% |
4 Bed | $356,000 | 4.4% |
| 5 Bed | $383,000 | 4.6% |
% of Housing Stock
Rental Trends — Albany, NY
As of July '25, Rentcast reports the average rent in Albany, NY is $1,720, with a year-over-year rent change of 11.0%. Per bedroom, the median rent as of July '25 in Albany, NY is studios: $1,600, 1-bedrooms: $1,410, 2-bedrooms: $1,580, 3-bedrooms: $1,730, 4-bedrooms: $2,060. The most common rental property sizes in Albany, NY are 2-bedroom and 3-bedroom, accounting for 35.0% and 28.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,700 | $1,720 |
| Studio Rent | $1,600 | $1,600 |
| 1 Bed Rent | $1,450 | $1,410 |
| 2 Bed Rent | $1,600 | $1,580 |
| 3 Bed Rent | $1,740 | $1,730 |
| 4 Bed Rent | $2,000 | $2,060 |
% 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 48. This is a decrease of -20.0% 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 32.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $284,000 | 9.0% |
Listing Count | 50 | -2.0% |
| Listings as % of Homes | 0.3% | -2.0% |
Days on Market | 48 | -20.0% |
Demographics — Albany, NY
As of the latest ACS Survey released in 2023, Albany, NY has a population of 23,900, which has increased by 9.3% over the past 5 years. Albany, NY is a less popular place for families, as children make up 13.0% of the population. The area has a highly educated workforce, with 55.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,900 | 9.3% |
% Under 18 | 13.0% | -16.1% |
% Seniors | 17.1% | 11.8% |
% WFH | 11.1% | 282.8% |
% w/ College Degree | 55.6% | 6.9% |
As of the latest ACS Survey released in 2023, Albany, NY is a predominantly white area, with 65.7% of the population identifying as white. The white population has shrunk by 1.6% in the last 5 years. The second most common race or ethnicity in Albany, NY is black, making up 12.7% of the population. Foreign-born residents account for 16.1% of the population in Albany, NY, and this percentage has decreased by 8.0% 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 | 65.7% | -1.6% |
% Black | 12.7% | 19.8% |
% Hispanic | 7.1% | -7.8% |
% Asian | 9.8% | -14.8% |
% Foreign Born | 16.1% | -8.0% |
Mortgage and Risk — Albany, NY
According to HUD data as of 2023, there were 348 mortgage originations in Albany, NY, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Albany, NY. Investor activity is low, as 5.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 348 |
% Conventional Loans | 92.0% |
% Government Loans | 8.0% |
% Investor Loans | 5.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Albany, NY
As of 2024, the percent of homes in Albany, NY under the Section 8 program is 10.9%. 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. 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Albany, NY, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 676 |
Total Units Section 8 | 675 |
% Rentals under Section 8 | 10.9% |
% Occupied Section 8 | 82.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$210 | $1,450 | $1,240 |
| 2 Bedroom | -$100 | $1,600 | $1,500 |
| 3 Bedroom | $70 | $1,740 | $1,810 |
| 4 Bedroom | -$10 | $2,000 | $1,990 |
Affordability — Albany, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.9 |
| Median Home Price | $313,000 |
| Median Household Income | $69,500 |