Housing
Home prices and rent in Albany
Median home values, rents and incomes from the U.S. Census Bureau, compared with New York and the U.S.
Census geography: Albany city, New York. These survey estimates are not current listing prices.
Albany vs. New York and the U.S.
| Albany | New York | U.S. | |
|---|---|---|---|
| Median home value | $234,700 | $423,800 | $332,700 |
| Median rent (monthly) | $1,216 | $1,621 | $1,413 |
| Median household income | $61,986 | $85,974 | $80,734 |
| Homes owned by occupants | 38% | 54% | 65% |
| Median year built | 1949 | 1959 | 1980 |
Ten years of change
| 2014 | 2019 | 2024 | |
|---|---|---|---|
| Median home value | $173,500 | $179,100 | $234,700 |
| Median rent (monthly) | $862 | $969 | $1,216 |
| Median household income | $41,099 | $45,825 | $61,986 |
Fair Market Rents (HUD, fiscal year 2027)
Albany-Schenectady-Troy, NY MSA · Albany County. HUD's payment benchmarks for housing programs: typical gross rent (rent plus utilities) for a recent mover, not a listing or an asking rent.
Large figures are the metro-area Fair Market Rent.
Income limits (HUD, fiscal year 2026)
Area median family income: $123,100. Households at or under these incomes can qualify for many housing programs; check each program's own rules.
| Household size | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 |
|---|---|---|---|---|---|---|---|---|
| Low income (80%) | $68,950 | $78,800 | $88,650 | $98,500 | $106,400 | $114,300 | $122,150 | $130,050 |
| Very low income (50%) | $43,100 | $49,250 | $55,400 | $61,550 | $66,500 | $71,400 | $76,350 | $81,250 |
| Extremely low income (30%) | $25,900 | $29,600 | $33,300 | $36,950 | $39,950 | $44,360 | $50,040 | $55,720 |
Source: U.S. Department of Housing and Urban Development, Fair Market Rents and Income Limits, checked October 9, 2026.
Questions
What is the median home value in Albany?
$234,700, according to the Census Bureau’s 2024 American Community Survey (5-year estimates), compared with $423,800 in New York and $332,700 nationally.
How much is rent in Albany?
Median gross rent (rent plus utilities) is $1,216 a month, versus $1,621 statewide.
How much have home values risen in Albany?
The median home value went from $173,500 in 2014 to $234,700 in 2024 (+35%).
What is fair market rent in Albany?
HUD's fiscal year 2027 Fair Market Rent for the Albany-Schenectady-Troy, NY MSA is $1,238 for a studio, $1,425 for one bedroom and $1,711 for two bedrooms. These are HUD program benchmarks, not asking rents.
Are these current market prices?
No. They are survey medians from the Census Bureau, based on a five-year survey period, so they lag today’s listings. They are the most consistent way to compare places and track change over time.
U.S. Census Bureau, American Community Survey 5-year estimates (2014, 2019, 2024), Albany city, New York. Values are estimates with margins of error.