Albany, NY home prices
Typical home $373,057 · +5.0% in a year · income needed $117,600
The Albany, NY metro area ranks 187 of 894 U.S. metros for home values (U.S. typical home: $366,157). Prices changed +5.0% in a year and +31.8% over five years. With 20% down at 7.11%, the typical home costs about $2,743 a month including 1.77% property tax (Albany County rate).
Mortgage on the typical Albany home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $74,611 | $298,445 | $2,008 | $0 | $735 | $2,743 | $117,600 |
| 10% down | $37,306 | $335,751 | $2,259 | $140 | $735 | $3,134 | $134,300 |
| 5% down | $18,653 | $354,404 | $2,384 | $148 | $735 | $3,267 | $140,000 |
| 3.5% down (FHA) | $13,057 | $366,300 | $2,464 | $165 | $735 | $3,364 | $144,200 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.77% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Counties in the Albany area
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Albany County, NY | $372,401 | +4.1% | 1.77% |
| Saratoga County, NY | $468,194 | +5.5% | 1.4% |
| Rensselaer County, NY | $327,950 | +5.8% | 2.05% |
| Schenectady County, NY | $312,933 | +5.2% | 2.36% |
| Schoharie County, NY | $252,001 | +6.2% | 2.03% |
What can you afford in New York on your salary? · New York home prices · Salaries in New York
Frequently asked questions
How much is a house in Albany?
The typical home in the Albany, NY metro area is worth $373,057 (Zillow, September 2026).
What salary do you need to buy a house in Albany?
About $117,600 a year for the typical home with 20% down at 7.11%.