Albany, OR Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Albany, OR Housing Market Trends

With 55,338 people, 20,752 houses or apartments, and a median cost of homes of $285,156, Albany real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Albany, accounting for 64.00% of the city's housing units. Other types of housing that are prevalent in Albany include large apartment complexes or high rise apartments ( 15.60%), duplexes, homes converted to apartments or other small apartment buildings ( 10.14%), and a few mobile homes or trailers ( 5.14%).

The most prevalent building size and type in Albany are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.86% owning and 42.14% renting.

There is a lot of housing in Albany built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Albany built between 1940-1969 ( 24.37%). A lesser amount of the housing stock also hails from between 2000 and later ( 22.03%). There's also some housing in Albany built before 1939 ( 7.57%).

Albany Home Appreciation Rates

In the last 10 years, Albany has experienced some of the highest home appreciation rates of any community in the nation. Albany real estate appreciated 81.72% over the last ten years, which is an average annual home appreciation rate of 6.15%, putting Albany in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Albany definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Albany's appreciation rate, at 7.51%, has been at or slightly above the national average. In the latest quarter, Albany's appreciation rate has been 2.45%, which annualizes to a rate of 10.17%.

Relative to Oregon, our data show that Albany's latest annual appreciation rate is lower than 70% of the other cities and towns in Oregon.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Albany differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Albany - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Albany real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$285,156

Albany, OR HOME PRICES

> $1,335,000
0.3%
0.3%
$1,002,001 - $1,335,000
0.3%
0.3%
$668,001 - $1,002,000
2.5%
2.5%
$534,001 - $668,000
3.4%
3.4%
$401,001 - $534,000
15.0%
15.0%
$267,001 - $401,000
36.1%
36.1%
$134,001 - $267,000
34.0%
34.0%
$67,001 - $134,000
2.7%
2.7%
$0 - $67,000
5.5%
5.5%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Low for OR

Value Relative To Nation

Number Of Homes And Apartments:
20,752

Albany Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OR*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
121.04% 3.80%
5
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,380 / per month

Homeownership Rate

Owners
57.9%
57.9%
Renters
42.1%
42.1%
Vacant
4.7%
4.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
22.0%
22.0%
1970 - 1999
46.0%
46.0%
1940 - 1969
24.4%
24.4%
1939 or Older
7.6%
7.6%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
64.0%
64.0%
Townhomes
5.0%
5.0%
Small Apt. Buildings
10.1%
10.1%
Apt. Complexes
15.6%
15.6%
Mobile Homes
5.1%
5.1%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.7%
1.7%
1 Bedroom
9.0%
9.0%
2 Bedrooms
28.1%
28.1%
3 Bedrooms
45.9%
45.9%
4 Bedrooms
12.0%
12.0%
5 or more bedrooms
3.3%
3.3%
0.0% 100.0%
% OF HOMES