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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 $302,148, lower than the Minnesota average of $345,793.
The average cost of rent is $915/mo in Albany, primarily driven by the current value of real estate in the Albany area. In Albany, 23.69% of households rent, and 38.88% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Albany is $7,340 per month. Households that rent pay about 12.47% of their income on rent here. Albany’s most expensive areas are in the northwestern 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
- St. Anna, MN: equally priced homes
- Avon, MN: equally priced homes
- Freeport, MN: equally priced homes
- Holdingford, MN: equally priced homes
- Collegeville, MN: higher priced homes
- New Munich, MN: less expensive homes
- St. Wendel, MN: equally priced homes
- St. Martin, MN: higher priced homes
- St. Rosa, MN: higher priced homes
- Jacobs Prairie, MN: higher priced homes
Cities with Similar Populations
- Fort Myers Shores, FL: equally priced homes
- Parker, AZ: less expensive homes
- American Falls, ID: less expensive homes
- Surfside, FL: higher priced homes
- New Tripoli, PA: higher priced homes
- New Waverly, TX: less expensive homes
- Robesonia, PA: equally priced homes
- Peotone, IL: equally priced homes
- Carolina Beach, NC: higher priced homes
- Versailles, MO: less expensive homes
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