Albany, GA—31701
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 $78,000, with a year-over-year change of -11.4%. This indicates that home prices in Albany, GA are decreasing. According to Zillow, the 1-year price projection is 0.4%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $78,000 | -11.4% |
| Single Family | $78,000 | -11.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $47,000 | -11.3% |
3 Bed | $81,000 | -11.0% |
4 Bed | $180,000 | -5.8% |
| 5 Bed | $184,000 | -7.1% |
% of Housing Stock
Rental Trends — Albany, GA
As of July '25, Rentcast reports the average rent in Albany, GA is $748, with a year-over-year rent change of -12.8%. Per bedroom, the median rent as of July '25 in Albany, GA is studios: $600, 1-bedrooms: $609, 2-bedrooms: $724, 3-bedrooms: $980, 4-bedrooms: $950. The most common rental property sizes in Albany, GA are 2-bedroom and 3-bedroom, accounting for 43.0% and 32.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $700 | $748 |
| Studio Rent | $600 | $600 |
| 1 Bed Rent | $645 | $609 |
| 2 Bed Rent | $700 | $724 |
| 3 Bed Rent | $1,100 | $980 |
| 4 Bed Rent | $950 | $950 |
% 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 58. This is a decrease of -41.0% 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 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $89,000 | -28.0% |
Listing Count | 87 | 6.0% |
| Listings as % of Homes | 0.3% | 6.0% |
Days on Market | 58 | -41.0% |
Demographics — Albany, GA
As of the latest ACS Survey released in 2023, Albany, GA has a population of 16,300, which has decreased by -12.1% over the past 5 years. Albany, GA is a moderately popular place for families, as children make up 22.6% of the population. The area has a poorly educated workforce, with 16.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 16,300 | -12.1% |
% Under 18 | 22.6% | -2.6% |
% Seniors | 19.2% | 17.1% |
% WFH | 9.0% | 52.5% |
% w/ College Degree | 16.9% | 32.0% |
As of the latest ACS Survey released in 2023, Albany, GA is a predominantly black area, with 74.2% of the population identifying as black. The black population has shrunk by 5.7% in the last 5 years. The second most common race or ethnicity in Albany, GA is white, making up 21.2% of the population. Foreign-born residents account for 1.5% of the population in Albany, GA, and this percentage has increased by 36.4% 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 | 21.2% | 26.2% |
% Black | 74.2% | -5.7% |
% Hispanic | 2.2% | 37.5% |
% Asian | 0.4% | -33.3% |
% Foreign Born | 1.5% | 36.4% |
Mortgage and Risk — Albany, GA
According to HUD data as of 2023, there were 136 mortgage originations in Albany, GA, of which 63.0% of loans were conventional mortgages. The average loan-to-value was 75.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Albany, GA. Investor activity is high, as 28.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 136 |
% Conventional Loans | 63.0% |
% Government Loans | 37.0% |
% Investor Loans | 28.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Albany, GA
As of 2024, the percent of homes in Albany, GA under the Section 8 program is 23.1%. 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 | 1,381 |
Total Units Section 8 | 1,094 |
% Rentals under Section 8 | 23.1% |
% Occupied Section 8 | 82.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $235 | $645 | $880 |
| 2 Bedroom | $300 | $700 | $1,000 |
| 3 Bedroom | $250 | $1,100 | $1,350 |
| 4 Bedroom | $680 | $950 | $1,630 |
Affordability — Albany, GA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.5 |
| Median Home Price | $78,000 |
| Median Household Income | $32,900 |