Home Price Key
Affordable
Average
Expensive
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 $237,436, lower than the New York average of $481,023.
The average cost of rent is $1,187/mo in Albany, primarily driven by the current value of real estate in the Albany area. While nearly 38.55% of residents own their homes outright in Albany, 32.76% rent.
Housing affordability isn’t just about home prices, though. The average household income in Albany is $7,241 per month. Households that rent pay about 16.39% of their income on rent here. Albany's most expensive areas are in the northern regions, while the cheapest areas are in the southwestern parts of the city.
Nearby Cities
- Menands, NY: higher priced homes
- Colonie, NY: higher priced homes
- Rensselaer, NY: equally priced homes
- Slingerlands, NY: higher priced homes
- Westmere, NY: higher priced homes
- Delmar, NY: higher priced homes
- Glenmont, NY: higher priced homes
- Latham, NY: higher priced homes
- Watervliet, NY: equally priced homes
- Guilderland, NY: higher priced homes
Cities with Similar Populations
- Portsmouth, VA: less expensive homes
- Pittsburgh, PA: less expensive homes
- Philadelphia, PA: higher priced homes
- Queens, NY: higher priced homes
- Lexington, KY: equally priced homes
- Lithonia, GA: less expensive homes
- Livermore, CA: higher priced homes
- Los Angeles, CA: higher priced homes
- Long Beach, CA: higher priced homes
- Jersey City, NJ: higher priced homes
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