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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 $130,589, lower than the Kentucky average of $219,615.
The average cost of rent is $655/mo in Albany, primarily driven by the current value of real estate in the Albany area. In Albany, 31.50% of households rent, and 61.75% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Albany is $3,822 per month. Households that rent pay about 17.13% of their income on rent here. Albany’s most expensive areas are in the northern regions, while the cheapest areas are in the western parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Bug, KY: higher priced homes
- Highway, KY: less expensive homes
- Seventy Six, KY: higher priced homes
- Savage, KY: higher priced homes
- Aaron, KY: higher priced homes
- Hobart, KY: higher priced homes
- Green Grove, KY: higher priced homes
- Alpha, KY: less expensive homes
- Windy, KY: less expensive homes
- Watauga, KY: less expensive homes
Cities with Similar Populations
- Willcox, AZ: higher priced homes
- Oneida, TN: higher priced homes
- Pocomoke City, MD: higher priced homes
- Port Isabel, TX: higher priced homes
- Port Matilda, PA: higher priced homes
- Montpelier, VA: higher priced homes
- Eureka, IL: higher priced homes
- Prescott, WI: higher priced homes
- Wilton, CA: higher priced homes
- Grant, AL: higher priced homes
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