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 about Scout's Real Estate Data
With 72,130 people, 28,741 houses or apartments, and a median cost of homes of $87,188, 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.
Homes have actually lost value in Albany over the last then years, as home values have seen a decline of 2.91% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Albany home appreciation rates at 2.26%, which equates to an annual appreciation rate of 9.37%.
NeighborhoodScout's data show that during the latest twelve months, Albany's appreciation rate, at 4.78%, has been at or slightly above the national average. In the latest quarter, Albany's appreciation rate has been 2.26%, which annualizes to a rate of 9.37%.
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 Georgia, our data show that Albany's latest annual appreciation rate is lower than 60% 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.
|$822,001 - $1,097,000||0.0|
|$548,001 - $822,000||0.5|
|$438,001 - $548,000||0.6|
|$329,001 - $438,000||2.4|
|$219,001 - $329,000||5.4|
|$110,001 - $219,000||28.5|
|$55,001 - $110,000||45.1|
|$0 - $55,000||16.9|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
2000 Q1 - 2020 Q3
|* 10 is highest|
|AGE OF Albany HOMES|
|2000 or Newer||14.2|
|1970 - 1999||45.5|
|1940 - 1969||36.6|
|1939 or Older||3.6|
|TYPE OF Albany HOMES|
|Small Apt. Buildings||0.0|
|SIZE OF Albany HOMES|
|5 or more bedrooms||1.43|