Why Live in Albany
Albany's cultural scene centers around the iconic Empire State Plaza, where visitors can take in panoramic views from the Corning Tower Observation Deck and attend performances at The Egg's distinctive venue. The New York State Museum showcases the state's rich history through extensive exhibits, while the historic Palace Theatre hosts year-round concerts and shows. Outdoor enthusiasts can explore the unique ecosystem at Albany Pine Bush Preserve or bike along the Albany County Helderberg-Hudson Rail Trail. The restaurant scene features upscale dining at Yono's, known for Indonesian-American fusion, and 677 Prime's premium steakhouse experience.
The housing market includes diverse options across several neighborhoods. Pine Hills features single family homes with a median price of $250,000, while Loudonville's single family homes command a median price of $455,000. The median price for single family homes in Delaware Avenue is $245,000, and Buckingham Lake-Crestwood homes have a median price of $348,000. One-bedroom condos in Albany have a median price of $153,000, while two-bedroom condos have a median price of $205,000.
Albany's cost of living sits 5% above the national average. A family with school-age children needs an annual salary of $111,000 to live comfortably, while renters should aim for $60,000. The property tax rate is 1.89%, lower than nearby Troy at 2.19% and Schenectady at 2.46%. Education options include highly rated public schools like Bethlehem Central Middle School and private institutions such as The Doane Stuart School, rated A+. The city's location provides easy access to major northeastern cities, with New York City 2.5 hours away and Boston reachable in 3 hours.
Home Trends in Albany, NY
On average, homes in Albany, NY sell after 19 days on the market compared to the national average of 51 days. The median sale price for homes in Albany, NY over the last 12 months is $299,900, up 2% from the median home sale price over the previous 12 months.
Median Sale Price
$299,900
Median Single Family Sale Price
$310,000
Median Townhouse Sale Price
$260,732
Median 2 Bedroom Sale Price
$210,000
Median 1 Bedroom Sale Price
$140,000
Average Price Per Sq Ft
$207
Number of Homes for Sale
113
Last 12 months Home Sales
867
Median List Price
$299,900
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
2%