Home Values in Albany, New York — 2026 Market Report
Updated March 2026 | Buyer's Market | +2.6% YoY
The median home value in Albany, New York is $215,000 as of March 2026, which is below the national median of $400,000. Home values in Albany have increased by 2.6% over the past year and 13.7% over the last five years. With a population of 99,224 and a median household income of $45,250, the price-to-income ratio stands at 4.8x, making Albany affordable for the average household.
Albany Housing Market Conditions
| Metric | Albany | National Avg |
|---|---|---|
| Median Home Value | $215,000 | $400,000 |
| YoY Appreciation | +2.6% | +3.8% |
| 5-Year Appreciation | +13.7% | +22.4% |
| Price per Sq Ft | $138 | $222 |
| Days on Market | 51 days | 45 days |
| Months of Supply | 5 | 3.5 |
| List-to-Sale Ratio | 99% | 98.5% |
| Monthly Homes Sold | 51 | — |
| Foreclosure Rate | 0.71% | 0.3% |
Home Value Trends in Albany
A homeowner who purchased at the median price of $189,094 five years ago in Albany would have gained approximately $25,906 in equity, representing a 13.7% return on investment. Over the past year alone, the typical homeowner gained $5,448 in home equity.
Affordability in Albany, NY
With a median household income of $45,250 and a median home price of $215,000, the price-to-income ratio in Albany is 4.8x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $1,429 compared to estimated monthly ownership costs of $1,325 gives a rent-vs-buy ratio of 0.93. In Albany, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in Albany
The effective property tax rate in New York is 1.69%. On a home valued at $215,000, the estimated annual property tax bill is $3,634, or approximately $303/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in Albany is 95.5 (100 = national average), indicating living costs are near the national average.
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Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in Albany, NY?
The median home value in Albany, New York is $215,000 as of March 2026. Home values have changed +2.6% over the past year, with a 5-year appreciation of 13.7%.
Is Albany a buyer's or seller's market?
Albany is currently a buyer's market with 5 months of housing supply. Homes spend an average of 51 days on market, and the list-to-sale price ratio is 99%. Supply and demand are relatively balanced.
Are home values going up in Albany?
Yes, home values in Albany have increased by 2.6% over the past year. The 5-year appreciation rate is 13.7%, meaning a home worth $189,094 five years ago is now worth $215,000.
Is it better to rent or buy in Albany?
The average monthly rent in Albany is $1,429, while estimated monthly homeownership costs are approximately $1,325. The price-to-rent ratio is 12.5. Based on current conditions, buying may be more cost-effective than renting in this market.
Home Values in Other New York Cities
Related Resources
Disclaimer: Home value data for Albany, New York is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.