Albany, GA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Albany Neighborhoods Since 2000




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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Albany Housing Market Information

With 74,843 people, 29,076 houses or apartments, and a median cost of homes of $73,828, house prices in Albany are some of the most affordable in Georgia as well as the nation.

Single-family detached homes are the single most common housing type in Albany, accounting for 55.71% of the city's housing units. Other types of housing that are prevalent in Albany include duplexes, homes converted to apartments or other small apartment buildings ( 21.51%), large apartment complexes or high rise apartments ( 16.37%), and a few row houses and other attached homes ( 3.38%).

The most prevalent building size and type in Albany are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 36.37% owning and 63.63% 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 ( 36.86%). A lesser amount of the housing stock also hails from between 2000 and later ( 11.24%). There's also some housing in Albany built before 1939 ( 3.82%).

Vacant housing appears to be an issue in Albany. Fully 13.78% 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

Albany's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Albany during the period has been just -1.59%, which is lower than 80% of US communities.

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 -1.87%, 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 0.87%, which equates to an annual appreciation rate of 3.53%.

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:
$73,828

Albany, GA HOME PRICES

Value Range
> $992,000 0.5
$744,001 - $992,000 0.1
$496,001 - $744,000 0.3
$397,001 - $496,000 0.8
$298,001 - $397,000 2.6
$199,001 - $298,000 4.0
$99,001 - $199,000 28.0
$50,001 - $99,000 42.4
$0 - $50,000 21.4

Very Low for GA
Very Low for Nation

Value Relative to Nation Value Relative to State
93.6657681940701 87.9492600422833

Number Of Homes And Apartments:
29,076

Albany Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
GA*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
11.12% 0.61% 3 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$894 / per month

Homeownership Rate

Homeownership
Owners 36.37
Renters 63.63
Vacant 13.78

Housing Market Details

 

Age of Homes

AGE OF Albany HOMES
2000 or Newer 11.2
1970 - 1999 48.1
1940 - 1969 36.9
1939 or Older 3.8

Types of Homes

TYPE OF Albany HOMES
Single-Family 55.7
Townhomes 3.4
Small Apt. Buildings 21.5
Apt. Complexes 16.4
Mobile Homes 3.0
Other 0.0

Home Size

SIZE OF Albany HOMES
No Bedroom 2.27
1 Bedroom 9.17
2 Bedrooms 30.05
3 Bedrooms 48.85
4 Bedrooms 8.83
5 or more bedrooms 0.83