Albany, Oregon Housing Market Prices
Albany 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 15% below the Oregon median$346,186
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Median rent 11% below the Oregon median$1,352
Housing Market Overview
| Metric | Albany | Oregon Avg | US Average |
|---|---|---|---|
| Median Home Price | $346,186 | $406,603 | $248,835 |
| Price Trend (Annual %) | 13.6% | 9.4% | 7.5% |
| Median Gross Rent | $1,352 | $1,525 | $1,407 |
| Rent Trend (Annual %) | 6.3% | 6.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Albany is about 15% lower than in Oregon. Rent is about 11% lower than the Oregon 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, up about 13.6% and 6.3% a year respectively. Home prices are changing faster.
Median rent in Albany rose about 73.1% between 2015 and 2024, from $781 to $1,352. Over the same span, rent in Oregon rose about 68.2%.
Affordability
On average, housing unit costs 4.7 yearly household incomes in Albany.
Buying the median-priced home in Albany costs roughly 21.3 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Albany. The price-to-rent ratio in Oregon is about 22.2.
| Metric | Albany | Oregon Avg | US Average |
|---|---|---|---|
| Median Home Price | $346,186 | $406,603 | $248,835 |
| Median Household Income | $73,186 | $83,617 | $80,455 |
| Price-to-Income Ratio | 4.7 | 4.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Albany rose about 150.2%, while median household income rose about 63.2% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Albany | Oregon Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 52.3% | 58.6% | 58.5% |
| Rental Rate | 43.5% | 33.9% | 31.2% |
| Vacancy Rate | 4.3% | 7.5% | 10.2% |
| Median Tenure (years) | 11.0 | 13.0 | 15.0 |
| Median Year Moved In | 2015 | 2013 | 2011 |
Albany has a homeownership rate of 52.3%, lower than the Oregon average of 58.6%. Its housing vacancy rate is 4.3%, compared with 7.5% in Oregon.
Housing Stock
| Metric | Albany | Oregon Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.53 people | 2.41 people | 2.53 people |
| Median Structure Built Year | 1981 | 1980 | 1978 |
| Median Number of Rooms | 5.2 | 5.3 | 5.5 |
The typical housing unit in Albany was built around 1981. On average, 2.5 people live in a home with about 5.2 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Albany, Oregon.
What is the median home price in Albany, Oregon?
The median home price in Albany, Oregon is $346,186, lower than the Oregon average of $406,603.
What is the average home price in Albany, Oregon?
The typical home price in Albany, Oregon, reported as the median sale price, is $346,186. 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, Oregon?
The median gross rent in Albany, Oregon is $1,352 per month, lower than the Oregon average of $1,525.
What was the median gross rent in Albany in 2020?
In 2020, the median gross rent in Albany, Oregon was $1,040 per month.
What is the price-to-rent ratio in Albany, Oregon?
The price-to-rent ratio in Albany, Oregon is about 21.3, meaning it would take roughly 21.3 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Albany.
Are home prices or rent rising faster in Albany, Oregon?
Both home prices and rent are rising in Albany, up about 13.6% and 6.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Albany, Oregon?
52.3% of households in Albany, Oregon own their home, lower than the Oregon average of 58.6%.
What is the vacancy rate in Albany, Oregon?
The housing vacancy rate in Albany, Oregon is 4.3%, lower than the Oregon average of 7.5%.
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