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
With a population of 5,998, 2,409 total housing units (homes and apartments), and a median house value of $81,500, 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 44.32% 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 ( 24.15%), large apartment complexes or high rise apartments ( 18.03%), and a few mobile homes or trailers ( 11.59%).
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 ( 59.74%), 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 ( 24.40%), followed by between 1940-1969 ( 14.05%). There's also some housing in Albion built between 2000 and later ( 1.81%).
Vacant housing appears to be an issue in Albion. Fully 12.78% 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.
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 12.66%, which ranks in the top 30% nationwide. This equates to an annual average Albion house appreciation rate of 1.20%.
Over the last year, Albion appreciation rates have trailed the rest of the nation. In the last twelve months, Albion's appreciation rate has been -0.13%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Albion were at -0.57%, which equates to an annual appreciation rate of -2.26%.
Notably, Albion's appreciation rate in the latest quarter is one of the lowest in America.
Relative to New York, our data show that Albion's latest annual appreciation rate is lower than 80% of the other cities and towns in New York.
|$793,001 - $1,058,000||1.3|
|$530,001 - $793,000||1.0|
|$423,001 - $530,000||0.0|
|$317,001 - $423,000||0.0|
|$212,001 - $317,000||0.4|
|$106,001 - $212,000||29.3|
|$53,001 - $106,000||51.9|
|$0 - $53,000||16.0|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Albion HOMES|
|2000 or Newer||1.8|
|1970 - 1999||24.4|
|1940 - 1969||14.0|
|1939 or Older||59.7|
|TYPE OF Albion HOMES|
|Small Apt. Buildings||24.1|
|SIZE OF Albion HOMES|
|5 or more bedrooms||5.94|