Albany, OR—97321
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Albany, OR
Home Price Trends — Albany, OR
As of Oct '25, the median home price in Albany, OR is $507,000, with a year-over-year change of 1.0%. This indicates that home prices in Albany, OR are flat. According to Zillow, the 1-year price projection is 0.8%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $507,000 | 1.0% |
| Single Family | $507,000 | 0.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $261,000 | 0.4% |
2 Bed | $324,000 | 1.6% |
3 Bed | $487,000 | 0.6% |
4 Bed | $583,000 | 0.9% |
| 5 Bed | $632,000 | 0.8% |
% of Housing Stock
Rental Trends — Albany, OR
As of July '25, Rentcast reports the average rent in Albany, OR is $1,920, with a year-over-year rent change of 9.7%. Per bedroom, the median rent as of July '25 in Albany, OR is studios: $1,180, 1-bedrooms: $1,190, 2-bedrooms: $1,590, 3-bedrooms: $2,480, 4-bedrooms: $3,050. The most common rental property sizes in Albany, OR are 2-bedroom and 3-bedroom, accounting for 38.9% and 23.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,650 | $1,920 |
| Studio Rent | $875 | $1,180 |
| 1 Bed Rent | $1,200 | $1,190 |
| 2 Bed Rent | $1,450 | $1,590 |
| 3 Bed Rent | $2,440 | $2,480 |
| 4 Bed Rent | $2,920 | $3,050 |
% of Rental Stock
Property Listings — Albany, OR
As of Oct '25, Realtor.com reports that the median days on market for a home in Albany, OR is 55. This is a decrease of -16.0% 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 42.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $532,000 | -14.0% |
Listing Count | 119 | -7.0% |
| Listings as % of Homes | 0.5% | -7.0% |
Days on Market | 55 | -16.0% |
Demographics — Albany, OR
As of the latest ACS Survey released in 2023, Albany, OR has a population of 31,000, which has increased by 17.5% over the past 5 years. Albany, OR is a moderately popular place for families, as children make up 24.0% of the population. The area has a moderately educated workforce, with 37.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 31,000 | 17.5% |
% Under 18 | 24.0% | 11.6% |
% Seniors | 17.0% | -6.1% |
% WFH | 16.0% | 175.9% |
% w/ College Degree | 37.8% | 3.8% |
As of the latest ACS Survey released in 2023, Albany, OR is a predominantly white area, with 82.7% of the population identifying as white. The white population has shrunk by 5.1% in the last 5 years. The second most common race or ethnicity in Albany, OR is hispanic, making up 8.4% of the population. Foreign-born residents account for 3.1% of the population in Albany, OR, and this percentage has decreased by 16.2% 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 | 82.7% | -5.1% |
% Black | 0.7% | 250.0% |
% Hispanic | 8.4% | 21.7% |
% Asian | 1.3% | -18.8% |
% Foreign Born | 3.1% | -16.2% |
Mortgage and Risk — Albany, OR
According to HUD data as of 2023, there were 647 mortgage originations in Albany, OR, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 21.0% above 90% LTV (very high). This implies large mortgage risk in Albany, OR. Investor activity is low, as 2.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 647 |
% Conventional Loans | 84.0% |
% Government Loans | 16.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Albany, OR
As of 2024, the percent of homes in Albany, OR under the Section 8 program is 11.6%. 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, OR, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 345 |
Total Units Section 8 | 345 |
% Rentals under Section 8 | 11.6% |
% Occupied Section 8 | 87.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$40 | $1,200 | $1,160 |
| 2 Bedroom | -$20 | $1,450 | $1,430 |
| 3 Bedroom | -$440 | $2,440 | $2,000 |
| 4 Bedroom | -$670 | $2,920 | $2,250 |
Affordability — Albany, OR
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5 |
| Median Home Price | $507,000 |
| Median Household Income | $95,700 |