The housing market in Albany, OR is flourishing with the median value sitting at $392,400 - significantly higher than the US house median value of $338,100. This reflects a 1 year house appreciation rate in Albany of 9.26%, which is higher than the US 1 year house appreciation rate of 8.27%. This trend indicates that home prices in Albany have been steadily increasing over the past year and is likely to continue to do so in the future. As such, investing in property in this area could be a lucrative prospect for potential homeowners.
The median home cost in Albany is $392,400. Home appreciation the last 10 years has been 144.5%. Home Appreciation in Albany is up 14.2%.
Average Age of Homes
- The median age of Albany real estate is 40 years old
The Rental Market in Albany
- Renters make up 38.1% of the Albany population
- 2.1% of houses and apartments in Albany, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.