Albany, MN—56307
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Albany, MN
As of Oct '25, the median home price in Albany, MN is $348,000, with a year-over-year change of 3.6%. This indicates that home prices in Albany, MN are increasing. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $348,000 | 3.6% |
| Single Family | $348,000 | 3.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $264,000 | 3.1% |
3 Bed | $326,000 | 3.2% |
4 Bed | $393,000 | 4.2% |
| 5 Bed | $459,000 | 4.1% |
% of Housing Stock
Rental Trends — Albany, MN
As of July '25, Rentcast reports the average rent in Albany, MN is $910, with a year-over-year rent change of 14.5%. Per bedroom, the median rent as of July '25 in Albany, MN is 2-bedrooms: $910. The most common rental property sizes in Albany, MN are 2-bedroom and 1-bedroom, accounting for 35.5% and 28.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $910 | $910 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $910 | $910 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Albany, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Albany, MN is 71. This is a increase of 27.0% 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 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $297,000 | -11.0% |
Listing Count | 15 | 82.0% |
| Listings as % of Homes | 0.5% | 82.0% |
Days on Market | 71 | 27.0% |
Demographics — Albany, MN
As of the latest ACS Survey released in 2023, Albany, MN has a population of 5,230, which has decreased by -5.2% over the past 5 years. Albany, MN is a popular place for families, as children make up 28.6% of the population. The area has a poorly educated workforce, with 20.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 5,230 | -5.2% |
% Under 18 | 28.6% | 1.8% |
% Seniors | 17.5% | 4.8% |
% WFH | 10.1% | 55.4% |
% w/ College Degree | 20.8% | 13.7% |
As of the latest ACS Survey released in 2023, Albany, MN is a predominantly white area, with 94.4% of the population identifying as white. The white population has shrunk by 0.8% in the last 5 years. The second most common race or ethnicity in Albany, MN is hispanic, making up 2.0% of the population. Foreign-born residents account for 1.8% of the population in Albany, MN, and this percentage has increased by 50.0% 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 | 94.4% | -0.8% |
% Black | 0.2% | -88.9% |
% Hispanic | 2.0% | 81.8% |
% Asian | 0.9% | 125.0% |
% Foreign Born | 1.8% | 50.0% |
Mortgage and Risk — Albany, MN
According to HUD data as of 2023, there were 54 mortgage originations in Albany, MN, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Albany, MN. Investor activity is low, as 0.0% of loans were by investors. 22.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 54 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 22.0% |
Loan Activity
Rentals and Section 8 — Albany, MN
Albany, MN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 75 |
Total Units Section 8 | 10 |
% Rentals under Section 8 | 2.4% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $820 |
| 2 Bedroom | $130 | $910 | $1,040 |
| 3 Bedroom | N/A | N/A | $1,380 |
| 4 Bedroom | N/A | N/A | $1,640 |
Affordability — Albany, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $348,000 |
| Median Household Income | $89,600 |