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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Albany, GA Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Albany, GA Housing Market Trends

With 67,192 people, 27,709 houses or apartments, and a median cost of homes of $135,353, 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 56.83% 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 ( 23.78%), large apartment complexes or high rise apartments ( 12.64%), and a few row houses and other attached homes ( 4.08%).

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 37.64% owning and 62.36% 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 ( 38.03%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.08%). There's also some housing in Albany built before 1939 ( 4.54%).

Vacant housing appears to be an issue in Albany. Fully 17.01% 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 4.62%, 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 4.56%, 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 2.87%, which equates to an annual appreciation rate of 11.98%.

Importantly, NeighborhoodScout’s exclusive research found that Albany's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which 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 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

$135,353

Albany, GA Home Prices
> $1,316,000
$988,001 - $1,316,000
$659,001 - $988,000
$527,001 - $659,000
$395,001 - $527,000
$263,001 - $395,000
$132,001 - $263,000
$66,001 - $132,000
$0 - $66,000
0.5%
0.5%
0.4%
0.4%
0.5%
0.5%
0.6%
0.6%
3.5%
3.5%
10.2%
10.2%
29.8%
29.8%
38.9%
38.9%
15.6%
15.6%
0% 100.0%
% of Homes
Very Low

for Georgia

Very Low

for nation

Number of Homes And Apartments:

27,709

Albany Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,480 / per month

Homeownership Rate

Owners
Renters
37.6%
37.6%
62.4%
62.4%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
17.0%
17.0%
83.0%
83.0%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
12.1%
12.1%
45.4%
45.4%
38.0%
38.0%
4.5%
4.5%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
56.8%
56.8%
4.1%
4.1%
23.8%
23.8%
12.6%
12.6%
2.7%
2.7%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.6%
1.6%
10.0%
10.0%
30.7%
30.7%
47.0%
47.0%
9.4%
9.4%
1.3%
1.3%
0% 100.0%
% of Homes