Albany, KY


Highest Appreciating Albany Neighborhoods Since 2000

Albany, KY 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 a population of 2,012, 819 total housing units (homes and apartments), and a median house value of $69,706, house prices in Albany are some of the most affordable in Kentucky as well as the nation.

Single-family detached homes are the single most common housing type in Albany, accounting for 64.68% of the city's housing units. Other types of housing that are prevalent in Albany include mobile homes or trailers ( 18.05%), large apartment complexes or high rise apartments ( 9.56%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.73%).

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.

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 ( 44.78%). A lesser amount of the housing stock also hails from between 2000 and later ( 4.78%). There's also some housing in Albany built before 1939 ( 4.10%).

Vacant housing appears to be an issue in Albany. Fully 20.10% 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

Appreciation rates for homes in Albany have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 10.27%, which ranks in the top 30% nationwide. This equates to an annual average Albany house appreciation rate of 0.98%.

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 2.83%, 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 0.56%, which equates to an annual appreciation rate of 2.24%.

Relative to Kentucky, our data show that Albany's latest annual appreciation rate is lower than 60% of the other cities and towns in Kentucky.

Average Home Values


Median Home Value:


Value Range
> $1,065,000 0.3
$799,001 - $1,065,000 0.0
$532,001 - $799,000 0.2
$426,001 - $532,000 0.0
$320,001 - $426,000 0.4
$213,001 - $320,000 2.6
$107,001 - $213,000 26.0
$53,001 - $107,000 35.6
$0 - $53,000 34.8

Very Low for KY
Very Low for Nation

Value Relative to Nation Value Relative to State
95.3797023321223 85.9649122807018

Number Of Homes And Apartments:

Albany Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
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
40.37% 1.99% 6 5
* 10 is highest

Rent & Ownership


Average Market Rent:
$573 / per month

Homeownership Rate

Owners 52.71
Renters 47.29
Vacant 20.10

Housing Market Details


Age of Homes

2000 or Newer 4.8
1970 - 1999 46.3
1940 - 1969 44.8
1939 or Older 4.1

Types of Homes

Single-Family 64.7
Townhomes 1.0
Small Apt. Buildings 6.7
Apt. Complexes 9.6
Mobile Homes 18.0
Other 0.0

Home Size

No Bedroom 6.73
1 Bedroom 11.90
2 Bedrooms 33.76
3 Bedrooms 38.34
4 Bedrooms 6.73
5 or more bedrooms 2.54

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Zip Codes in Albany, KY