Albany GA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Albany, GA Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Albany Housing Market Information

With a population of 75,249, 28,741 total housing units (homes and apartments), and a median house value of $85,676, house prices in Albany are some of the most affordable in Georgia as well as the nation.

Mobile homes or trailers are the single most common housing type in Albany, accounting for 0.00% of the city's housing units.

The most prevalent building size and type in Albany are three and four bedroom dwellings, chiefly found in mobile homes or trailers. The city has a mixture of owners and renters, with 37.26% owning and 62.74% renting.

There is a lot of housing in Albany built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Albany built between 1940-1969 ( 36.63%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.18%). There's also some housing in Albany built before 1939 ( 3.64%).

Vacant housing appears to be an issue in Albany. Fully 14.85% of the housing stock is classified as vacant. Left unchecked, vacant Albany homes and apartments can be a drag on the real estate market, holding Albany real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Albany Home Appreciation Rates

Homes have actually lost value in Albany over the last then years, as home values have seen a decline of 1.87% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Albany home appreciation rates at -0.93%, which equates to an annual appreciation rate of -3.67%.

Over the last year, Albany appreciation rates have trailed the rest of the nation. In the last twelve months, Albany's appreciation rate has been 0.74%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Albany were at -0.93%, which equates to an annual appreciation rate of -3.67%.

Notably, Albany's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Georgia, our data show that Albany's latest annual appreciation rate is lower than 90% of the other cities and towns in Georgia.

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.

Average Home Values

 

Median Home Value:
$85,676

Albany, GA HOME PRICES

Value Range
> $1,077,000 0.6
$808,001 - $1,077,000 0.0
$538,001 - $808,000 0.5
$431,001 - $538,000 0.6
$323,001 - $431,000 2.4
$215,001 - $323,000 5.4
$108,001 - $215,000 28.5
$54,001 - $108,000 45.1
$0 - $54,000 16.9

Very Low for GA
Very Low for Nation

Value Relative to Nation Value Relative to State
92.2978102189781 86.7088607594937

Number Of Homes And Apartments:
28,741

Albany Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
GA*
Compared To
America*
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
18.55% 0.83%
1
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$948 / per month

Homeownership Rate

Homeownership
Owners 37.26
Renters 62.74
Vacant 14.85

Housing Market Details

 

Age of Homes

AGE OF Albany HOMES
2000 or Newer 14.2
1970 - 1999 45.5
1940 - 1969 36.6
1939 or Older 3.6

Types of Homes

TYPE OF Albany HOMES
Single-Family 0.0
Townhomes 0.0
Small Apt. Buildings 0.0
Apt. Complexes 0.0
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Albany HOMES
No Bedroom 2.44
1 Bedroom 8.86
2 Bedrooms 30.00
3 Bedrooms 47.49
4 Bedrooms 9.77
5 or more bedrooms 1.43