Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 19,735 people, 7,377 houses or apartments, and a median cost of homes of $1,018,640, Albany house prices are not only among the most expensive in California, Albany real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Albany, accounting for 49.01% of the city's housing units. Other types of housing that are prevalent in Albany include large apartment complexes or high rise apartments ( 35.90%), duplexes, homes converted to apartments or other small apartment buildings ( 10.99%), and a few row houses and other attached homes ( 4.05%).
People in Albany primarily live in small (one, two or no bedroom) single-family detached homes. Albany has a mixture of owner-occupied and renter-occupied housing.
The housing in Albany was primarily built before 1939 ( 39.82%), making the housing stock in Albany some of the oldest overall in America, although there is a range of ages of homes in Albany. The next most important housing age is between 1940-1969 ( 25.14%), followed by between 1970-1999 ( 19.85%). There's also some housing in Albany built between 2000 and later ( 15.18%).
In the last 10 years, Albany has experienced some of the highest home appreciation rates of any community in the nation. Albany real estate appreciated 45.98% over the last ten years, which is an average annual home appreciation rate of 3.86%, putting Albany in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Albany definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Albany that despite a nationwide downturn in the housing market, Albany real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Albany appreciation rates continue to be some of the highest in America, at 8.59%, which is higher than appreciation rates in 89.30% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Albany. Albany appreciation rates in the latest quarter were at 2.03%, which equates to an annual appreciation rate of 8.39%.
Importantly, this makes Albany one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to California, our data show that Albany's latest annual appreciation rate is higher than 60% of the other cities and towns in California.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Albany differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Albany - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Albany real estate investment or home purchase decisions.
|$1,044,001 - $1,392,000||27.4|
|$696,001 - $1,044,000||35.8|
|$557,001 - $696,000||8.5|
|$418,001 - $557,000||8.0|
|$278,001 - $418,000||3.9|
|$139,001 - $278,000||2.9|
|$70,001 - $139,000||1.5|
|$0 - $70,000||1.8|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Albany HOMES|
|2000 or Newer||15.2|
|1970 - 1999||19.9|
|1940 - 1969||25.1|
|1939 or Older||39.8|
|TYPE OF Albany HOMES|
|Small Apt. Buildings||11.0|
|SIZE OF Albany HOMES|
|5 or more bedrooms||2.88|