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City · 100,492 residents · Albany County, New York

Albany , New York

In Albany, a typical home is worth $234,700 and typical rent is $1,216 a month. Compared with all of Albany County, typical household income is 27% lower, the typical home value is 20% lower, and the share of households that own their home is 18 points lower.

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  • Typical home value

    $234,700

    20% below the county

    45% below New York

    • Albany
    • County
    • New York

  • Typical rent

    $1,216a month

    7% below the county

    25% below New York

    • Albany
    • County
    • New York

  • Typical household income

    $61,986a year

    27% below the county

    28% below New York

    • Albany
    • County
    • New York

  • Households that own their home

    38%

    18 points below the county

    16 points below New York

    • Albany
    • County
    • New York

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$331,504
4.2% more than 12 months ago
Typical rent
$1,664 a month
5.3% more than 12 months ago

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Albany is in Albany County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Albany County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Albany apart

What this place has that others do not, from public data, most unusual first.

  1. 38% of households in Albany own their home, against 57% in Albany County.

  2. The typical household income in Albany is $61,986, 27% less than in Albany County as a whole ($85,333).

  3. The typical home in Albany is worth $234,700, 20% less than in Albany County as a whole ($294,600).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Albany

What homes there are in Albany, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

Homes here are varied: buildings of 2 to 4 homes are 40% of them, more than in Albany County (24%), and no kind reaches half.

Year built

The typical home in Albany was built in 1949, 15 years before the typical one in Albany County.

There are fewer big homes in Albany than in Albany County: 43% have 3 bedrooms or more, against 55%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

By price, most homes in Albany sit under the FHA limit for Albany County ($541,287): about 96%.

Monthly rent with utilities

About 79% of rented homes in Albany cost less than HUD's 2-bedroom fair market rent for Albany County ($1,711).

With a mortgage

$1,847 a month

Albany County: $1,998 a month

Without a mortgage

$701 a month

Albany County: $765 a month

Owners with a mortgage

62%

Albany County: 60%

Owning costs less in Albany: with a mortgage, the typical cost is $1,847 a month; in Albany County, $1,998. Without one, $701.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

From 2015–2019 to 2020–2024, home values in Albany rose at about the same pace as in Albany County: 31% against 32%.

The typical rent in Albany rose 26% since 2015–2019, about the same as in Albany County (29%).

The typical household income in Albany rose 35%: more than home values (+31%) and rent (+26%).

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureAlbanyAlbany CountyNew YorkUnited States
Rental vacancy 3.6%3.3%3.8%5.5%
Homeowner vacancy 1.8%0.9%1.1%0.9%
More than one person per room 1.8%1.7%5.3%3.4%
People per household 2.002.212.492.53
Drive alone 55%67%49%69%
Carpool 10%8%6%9%
Public transit 10%4%22%3%
Walk or bike 9%4%6%3%
Work from home 13%15%15%15%
Other means 2%1%2%2%
Typical commute 10 to 19 minutesUnreliable estimate20 to 29 minutes20 to 29 minutes

In Albany, the rental vacancy rate is 3.6%, about the same as in Albany County.

In Albany, 1.8% of households live with more than one person per room, about the same as in Albany County.

On average, a household in Albany has 2.00 people, fewer than in Albany County (2.21).

Public transit matters here: 10% of workers take it to work, against 4% in Albany County.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Albany?

A typical home costs more than the typical income allows

We start with a typical home in Albany, worth $234,700, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 42% of the typical household income in Albany, which is $61,986 a year. For that payment to be 28% of income, a household would need to earn about $93,735 a year.

The calculator's FHA and conventional loan limits are those of all of Albany County.

Your numbers

Local data
$

Starts at the typical home value in Albany. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $8,215 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$2,187

at 7.18% · 30 years

Loan amount
$230,448
Total interest
$331,561
Paid off in
November 2056

Includes $3,963 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,446 a month

  • Tight

    $1,446 to $1,860 a month

  • Hard

    more than $1,860 a month

    Your payment · 42%

Compared with the typical household income in Albany ($61,986 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$2,187
Principal & interest$1,561
Property tax$424
Home insurance$98
FHA mortgage insurance (MIP)$104

You need at least $8,215 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Albany and Albany County

Albany is in Albany County, New York. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Albany's own numbers

Typical home value
$234,700
Typical monthly rent
$1,216
Typical yearly household income
$61,986
Households that own their home
38%
Effective property tax rate
2.17%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Albany County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,711
Price change over 5 years (FHFA)
+51%
Homes in a high flood-risk zone
1.2%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Albany County.

Everything about Albany County

Buying

Buying a home in Albany

A typical home in Albany is worth $234,700: 20% below the county and 45% below New York. With the typical household income in Albany ($61,986 a year), a typical home costs 3.8 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Albany 3.8 years
  • County 3.5 years
  • New York 4.9 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Albany County

According to FHFA’s house price index, home prices in Albany County rose 71% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Albany County.

Period County New York U.S.
Last year (2025) +5.0% +6.0% +2.9%
5 years (2020–2025) +51% +52% +47%
10 years (2015–2025) +71% +86% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Albany next to Albany County, New York and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Albany $234,700
  • County $294,600
  • New York $423,800
  • United States $332,700
Typical monthly rent
  • Albany $1,216
  • County $1,313
  • New York $1,621
  • United States $1,413
Typical yearly household income
  • Albany $61,986
  • County $85,333
  • New York $85,974
  • United States $80,734
See the full table
Albany next to Albany County and New York
Measure Albany Albany County New York U.S.
Typical home value $234,700 $294,600 $423,800 $332,700
Typical monthly rent $1,216 $1,313 $1,621 $1,413
Typical yearly household income $61,986 $85,333 $85,974 $80,734
Households that own their home 38% 57% 54% 65%
Typical yearly property tax $5,091 $5,200 $6,582 $3,119
Effective property tax rate 2.17% 1.77% 1.55% 0.94%
Renters with high rent for their income 51% 47% 52% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Albany County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Albany

For a typical $234,700 home in Albany, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Albany's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $2,187a month

    Least cash to close
    Down payment
    $8,215
    Cash to close
    $15,256
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $104

  • Conventional, 5% down $2,144a month

    Down payment
    $11,735
    Cash to close
    $18,776
    Rate
    7.18%
    Mortgage insurance
    PMI · $111

  • Conventional, 20% down, no PMI $1,794a month

    Down payment
    $46,940
    Cash to close
    $53,981
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $2,011a month

    Down payment
    $35,205
    Cash to close
    $42,246
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Albany and for Albany County.

Property tax

Effective rate in Albany

2.17%of the home’s value each year

$5,091 a year for the typical owner in Albany.

  • Albany 2.17%
  • County 1.77%
  • New York 1.55%

What New York publishes Basic STAR school tax relief (New York State Department of Taxation and Finance)

Exemptions and deadlines in New York

Flood risk in Albany County

FEMA does not publish these numbers by city: they are for all of Albany County.

Homes in the high-risk zone
1.2%
1,121
Of those, with NFIP insurance
34%
County New York U.S.
Homes in the high-risk zone 1.2% 2% 3.5%
Of those, with NFIP insurance 34% 76% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Albany

Typical rent in Albany is $1,216 a month: 7% below the county. In Albany, 51% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Albany County, by unit size. To pay the 2-bedroom one ($1,711 a month) without spending more than 30% of your income, you would need to earn $32.90 an hour working full time.

HUD fair market rent for all of Albany County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,238 $23.81 $49,520
1 bedroom $1,425 $27.40 $57,000
2 bedrooms $1,711 $32.90 $68,440
3 bedrooms $2,039 $39.21 $81,560
4 bedrooms $2,249 $43.25 $89,960

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Albany

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Albany has 9 ZIP codes with their own.

For 2 bedrooms it runs from $1,540 in 12202 to $2,570 in 12222.

5 of the 9 are above the fair market rent for Albany County ($1,711).

  • 12202 $1,540$1,840
  • 12203 $1,890$2,250
  • 12206 $1,700$2,030
  • 12207 $1,970$2,350
  • 12208 $1,730$2,060
  • 12209 $1,570$1,870
  • 12210 $1,550$1,850
  • 12222 $2,570$3,060
  • 12226 $1,740$2,070

2 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Albany when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Albany

HUD lists 49 buildings with rents for lower incomes in Albany. These are the largest.

  • Capital District Apts 6 Executive Park Dr, Albany 12203 586 homes, 581 low-income · For older adults (518) 265-5241
  • South Mall Towers 99 S Pearl St, Albany 12207 348 homes, 322 low-income · Studio: 159 · 1 bd: 154 · 2 bd: 9 · In service since 2003 · For older adults
  • Capitol Green 400 Central Ave, Albany 12206 308 homes, 298 low-income · Studio: 44 · 1 bd: 176 · 2 bd: 88 · In service since 2007 · For families
  • Lincoln Park Homes 1 Lincoln Sq, Albany 12202 196 low-income homes · Run by Albany Housing Authority (518) 641-7500
  • Skyline Garden Apts 7 Lark St, Albany 12210 190 low-income homes · 1 bd: 48 · 2 bd: 103 · 3 bd: 39 · In service since 2001 · For families

See all 70 buildings in Albany County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Albany

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There are 2 HUD-approved agencies with an office in Albany County; 1 says it serves in Spanish.

A grandmother smiles, seated at home.

HUD counseling is free or low-cost

Assistance programs in Albany

No down payment, repair or rent-help program on our list is for Albany or Albany County. The ones below are statewide in New York: they work in Albany the same as in the rest of the state.

Which programs do I qualify for? All programs in New York

Housing counselors near Albany

The HUD-approved agencies closest to the center of Albany, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Affordable Housing Partnership

    255 Orange St Ste 105, Albany · 2 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 6 more
    (518) 434-1730

  • Troy Rehabilitation and Improvement Program

    415 River St Ste 2, Troy · 7 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 6 more
    (518) 690-0020

  • Albany County Rural Housing Alliance, Inc.

    24 Martin Rd, Voorheesville · 9 miles away

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 5 more
    (518) 765-2425

Every agency in Albany County All counseling agencies in New York

Help in Spanish near Albany

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Albany

HUD’s record names them for Albany or Albany County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Albany Housing Authority Public housing and Section 8 vouchers (518) 641-7500

2 other authorities have an office in Albany County: see the list Source: HUD

Cities

Other cities in Albany County

These cities are also in Albany County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Albany County Housing in New York

Nearby cities

The cities closest to Albany, with the typical home value.

Neighboring counties

If Albany County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Albany.

All guides
A mother holding her baby watches her daughter blow bubbles outdoors.

Questions

Housing questions about Albany

Short answers with the numbers for Albany and all of Albany County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Albany?

The typical home value in Albany is $234,700, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Albany County it is $294,600.

How much does it cost to rent in Albany?

Typical rent in Albany is $1,216 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Albany County is $1,711.

What is the FHA loan limit in Albany?

Albany uses the FHA limit for all of Albany County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Albany?

The typical homeowner in Albany pays $5,091 a year, according to the U.S. Census Bureau. That is 2.17% of the home’s value; in Albany County, the rate is 1.77%.

Where can I find free help to buy or rent in Albany?

There are 2 HUD-approved counseling agencies with an office in Albany County. 1 says it serves in Spanish. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).