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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.



Albion, NY 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

Albion, NY Housing Market Trends

With 5,651 people, 2,523 houses or apartments, and a median cost of homes of $120,503, house prices in Albion are some of the most affordable in New York as well as the nation.

Single-family detached homes are the single most common housing type in Albion, accounting for 49.17% of the village's housing units. Other types of housing that are prevalent in Albion include duplexes, homes converted to apartments or other small apartment buildings ( 21.50%), mobile homes or trailers ( 15.56%), and a few large apartment complexes or high rise apartments ( 10.42%).

People in Albion primarily live in small (one, two or no bedroom) single-family detached homes. Albion has a mixture of owner-occupied and renter-occupied housing.

The housing in Albion was primarily built before 1939 ( 45.10%), making the housing stock in Albion some of the oldest overall in America, although there is a range of ages of homes in Albion. The next most important housing age is between 1970-1999 ( 32.78%), followed by between 1940-1969 ( 19.84%). There's also some housing in Albion built between 2000 and later ( 2.28%).

Vacant housing appears to be an issue in Albion. Fully 12.94% of the housing stock is classified as vacant. Left unchecked, vacant Albion homes and apartments can be a drag on the real estate market, holding Albion 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.

Albion Home Appreciation Rates

Appreciation rates for homes in Albion have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 97.83%, which ranks in the top 40% nationwide. This equates to an annual average Albion house appreciation rate of 7.06%.

Appreciation rates are so strong in Albion that despite a nationwide downturn in the housing market, Albion real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Albion appreciation rates continue to be some of the highest in America, at 11.24%, which is higher than appreciation rates in 97.76% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Albion. Albion appreciation rates in the latest quarter were at 1.91%, which equates to an annual appreciation rate of 7.84%.

Relative to New York, our data show that Albion's latest annual appreciation rate is higher than 80% of the other cities and towns in New York.

One very important thing to keep in mind is that these are average appreciation rates for the village. Individual neighborhoods within Albion differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Albion - 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 Albion real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$120,503

Albion, NY Home Prices
> $1,796,000
$1,347,001 - $1,796,000
$898,001 - $1,347,000
$718,001 - $898,000
$539,001 - $718,000
$359,001 - $539,000
$180,001 - $359,000
$90,001 - $180,000
$0 - $90,000
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.2%
0.2%
9.3%
9.3%
26.6%
26.6%
41.9%
41.9%
22.0%
22.0%
0% 100.0%
% of Homes
Very Low

for New york

Very Low

for nation

Number of Homes And Apartments:

2,523

Albion Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,284 / per month

Homeownership Rate

Owners
Renters
62.3%
62.3%
37.7%
37.7%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
12.9%
12.9%
87.1%
87.1%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
2.3%
2.3%
32.8%
32.8%
19.8%
19.8%
45.1%
45.1%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
49.2%
49.2%
3.3%
3.3%
21.5%
21.5%
10.4%
10.4%
15.6%
15.6%
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
2.8%
2.8%
11.6%
11.6%
34.2%
34.2%
30.0%
30.0%
14.0%
14.0%
7.5%
7.5%
0% 100.0%
% of Homes