There are currently 30,423 real estate properties in Albany, NY, with a median automated valuation model (AVM) price of $245,800.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Albany, NY, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Albany, NY, is $271,304.00, with the most expensive house in Albany, NY, topping out at $5,027,900.00 and the cheapest home in Albany, NY, clocking in at $25,300.00. In other words, there’s something for every potential homebuyer or savvy investor in Albany, NY!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Albany, NY, is on a rollercoaster ride. The average rent price in Albany, NY, is $1,608.00. Indeed, when looking to rent in Albany, NY, you can expect to pay as little as $620.00 or as much as $7,180.00, with the average rent median estimated to be $1,570.00. The good news is that finding an affordable and desirable property to rent in Albany, NY -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Albany, NY area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Albany, NY and much more. Save thousands at closing with home foreclosure listings in Albany, NY — up to 75% off market value!
Albany is located in Albany, New York, with an estimated municipal population of 96,460 residents. All of the best foreclosed homes for sale in Albany are located in the following zip code areas on Foreclosure.com: 12208 12209 12204 12206 12207 12202 12203 12205 12210 12222 12201 12223 12226 12228 12229 12230 12231 12232 12233 12234 12235 12236 12237 12238 12239 12240 12241 12242 12243 12244 12245 12246 12248 12250 12255 12257 12260 12261. The estimated population per square kilometer (.62 miles) in Albany is 1,740.
So, about how much do homes cost in Albany? The most recent median value of resident-owned homes in Albany is 178,294. An estimated 37.5 percent of households in Albany own their homes, with an average family size of 3.11. The median household income in Albany is 45,825, with20.2 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Albany, the median commute time of resident workers (in minutes) is 19. And last, but certainly not least, are you looking for homes to rent in Albany? If so, the average rent price paid by renters in Albany is 969, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Albany, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Albany is 30.9, split between 46.9 percent male versus 53.1 female. The percentage of residents who report being married in Albany is 26.4, with an average family size of 3.11.
The percentage of residents who report their race in Albany is as follows:
|Black / African American||28.9%|
|American Indian / Alaskan Native||0.2%|
|Native Hawaiian / Other Pacifc Islander||0%|
Looking for family-friendly neighborhoods in and/or near Albany? Or maybe you are searching for 55+ active adult communities in and/or near Albany?
The percentage of residents who report their age in Albany is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Albany with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Albany.
How do you know that living in -- or moving to -- Albany is right where you need to be? Perhaps you grew up in Albany or already live nearby; therefore, the decision to buy a home in Albany is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Albany for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Albany:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Albany.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Albany can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Albany, meanwhile, can field multiple offers from more qualified buyers.
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