Albany County, New York Housing Market Prices
Albany County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 61% below the New York median$182,714
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Median rent 19% below the New York median More expensive than 75% of counties in New York$1,313
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Albany County | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $182,714 | $471,885 | $248,835 |
| Price Trend (Annual %) | 1.4% | 7.1% | 7.5% |
| Median Gross Rent | $1,313 | $1,621 | $1,407 |
| Rent Trend (Annual %) | 4.4% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Albany County is about 61% lower than in New York. Rent is about 19% lower than the New York average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Albany County, up about 1.4% and 4.4% a year respectively. Rent is changing faster.
Median rent in Albany County rose about 42.9% between 2015 and 2024, from $919 to $1,313. Over the same span, rent in New York rose about 43.2%.
Affordability
On average, housing unit costs 2.1 yearly household incomes in Albany County.
Buying the median-priced home in Albany County costs roughly 11.6 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Albany County. The price-to-rent ratio in New York is about 24.3.
| Metric | Albany County | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $182,714 | $471,885 | $248,835 |
| Median Household Income | $85,884 | $86,556 | $80,455 |
| Price-to-Income Ratio | 2.1 | 5.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Albany County rose about 9.9%, while median household income rose about 47.0% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Albany County | New York Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 51.6% | 48.8% | 58.5% |
| Rental Rate | 39.6% | 41.1% | 31.2% |
| Vacancy Rate | 8.8% | 10.1% | 10.2% |
| Median Tenure (years) | 15.0 | 17.0 | 15.0 |
| Median Year Moved In | 2011 | 2009 | 2011 |
Albany County has a homeownership rate of 51.6%, higher than the New York average of 48.8%. Its housing vacancy rate is 8.8%, compared with 10.1% in New York.
Housing Stock
| Metric | Albany County | New York Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.21 people | 2.49 people | 2.53 people |
| Median Structure Built Year | 1966 | 1960 | 1978 |
| Median Number of Rooms | 5.6 | 5.0 | 5.5 |
The typical housing unit in Albany County was built around 1966. On average, 2.2 people live in a home with about 5.6 rooms, staying for about 15.0 years on average.
Albany County, NY Housing Compared With Nearby Counties
Albany County, NY is the largest of the 6 counties compared here, 317,009 residents against a local median of 61,100. Albany County, NY's homeownership, at 56.6%, runs 26% below the 76.3% typical of the counties around it. That is the weaker end of the local range on this measure.
The counties themselves spread 13.2% on homeownership, so Albany County, NY sits at one end of an already wide local range rather than apart from it. Albany County, NY has the 6th highest homeownership of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Albany County, NY | 317,009 | $182,714 #4/6 | $1,313 #1/6 | 56.6% #6/6 |
| Schenectady County, NY | 160,313 | $212,185 | $1,193 | 64.1% |
| Greene County, NY | 47,409 | $262,000 | $1,004 | 77.2% |
| Schoharie County, NY | 30,049 | $154,687 | $909 | 76.4% |
| Rensselaer County, NY | 160,332 | $181,589 | $1,216 | 64.8% |
| Columbia County, NY | 61,100 | $292,288 | $1,260 | 76.3% |
Frequently Asked Questions
Common questions about the housing market in Albany County, New York.
What is the median home price in Albany County, New York?
The median home price in Albany County, New York is $182,714, lower than the New York average of $471,885.
What is the average home price in Albany County, New York?
The typical home price in Albany County, New York, reported as the median sale price, is $182,714. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Albany County, New York?
The median gross rent in Albany County, New York is $1,313 per month, lower than the New York average of $1,621.
What was the median gross rent in Albany County in 2020?
In 2020, the median gross rent in Albany County, New York was $1,056 per month.
What is the price-to-rent ratio in Albany County, New York?
The price-to-rent ratio in Albany County, New York is about 11.6, meaning it would take roughly 11.6 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Albany County.
Are home prices or rent rising faster in Albany County, New York?
Both home prices and rent are rising in Albany County, up about 1.4% and 4.4% a year respectively. Rent is changing faster.
What is the homeownership rate in Albany County, New York?
51.6% of households in Albany County, New York own their home, higher than the New York average of 48.8%.
What is the vacancy rate in Albany County, New York?
The housing vacancy rate in Albany County, New York is 8.8%, lower than the New York average of 10.1%.
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