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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 1,242 people, 389 houses or apartments, and a median cost of homes of $198,300, house prices in Albany are solidly below the national average.
Single-family detached homes are the single most common housing type in Albany, accounting for 53.29% of the town's housing units. Other types of housing that are prevalent in Albany include mobile homes or trailers ( 26.75%), large apartment complexes or high rise apartments ( 12.55%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.79%).
The most prevalent building size and type in Albany are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 63.75% owning and 36.25% 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 2000 and later ( 23.87%). A lesser amount of the housing stock also hails from between 1940-1969 ( 10.29%). There's also some housing in Albany built before 1939 ( 1.65%).
Vacant housing appears to be an issue in Albany. Fully 19.96% of the housing stock is classified as vacant. Left unchecked, vacant Albany homes and apartments can be a drag on the real estate market, holding Albany real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Some of the lowest real estate appreciation rates in America over the last ten years have been in Albany, where house values have increased just 37.72%, which is annualized rate of 3.25%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Over the last year, Albany appreciation rates have trailed the rest of the nation. In the last twelve months, Albany's appreciation rate has been 1.72%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Albany were at 1.60%, which equates to an annual appreciation rate of 6.57%.
Relative to Louisiana, our data show that Albany's latest annual appreciation rate is lower than 60% of the other cities and towns in Louisiana.
$198,300
for Louisiana
for nation
389
$1,476 / per month