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Affordable
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These days, finding an affordable place to live in the Albany area can be challenging. Home prices in Albany are now at a median cost of $163,160, lower than the Illinois average of $300,242.
The average cost of rent is $778/mo in Albany, primarily driven by the current value of real estate in the Albany area. In Albany, 9.24% of households rent, and 49.54% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Albany is $6,101 per month. Households that rent pay about 12.75% of their income on rent here. Albany’s most expensive areas are in the southeastern regions, while the cheapest areas are in the northern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Camanche, IA: equally priced homes
- Garden Plain, IL: higher priced homes
- Shaffton, IA: equally priced homes
- Clinton, IA: less expensive homes
- Fulton, IL: less expensive homes
- Fenton, IL: higher priced homes
- Folletts, IA: higher priced homes
- Cordova, IL: higher priced homes
- Low Moor, IA: higher priced homes
- Lyons, IA: higher priced homes
Cities with Similar Populations
- Whitehorse, NM: less expensive homes
- Skagway, AK: higher priced homes
- Section Thirty, MN: higher priced homes
- Leland, MI: higher priced homes
- Trout Creek, MT: higher priced homes
- Nazlini, AZ: less expensive homes
- Bakerstown, PA: higher priced homes
- Yoder, CO: higher priced homes
- Dameron, MD: higher priced homes
- Falls City, OR: higher priced homes
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