Foreclosure Homes in Albany, OR 97321

Current Market Conditions in Albany, OR

Albany's real estate market continues to exhibit strong growth. Compared to last year, home values have risen significantly, and demand remains high, driven by families looking for community-oriented neighborhoods and proximity to outdoor activities. The city's appeal is bolstered by its relatively affordable housing prices compared to larger metropolitan areas nearby.

As of now, the average home price in Albany is around $350,000, reflecting a consistent increase over the past few months. Prospective buyers face competition due to low inventory levels, pushing many to act quickly when properties become available. New developments are on the rise to accommodate the increasing demand.

Rent Prices In Albany, OR

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Albany, OR, is on a rollercoaster ride. The average rent price in Albany, OR, is $1,247.00. Indeed, when looking to rent in Albany, OR, you can expect to pay as little as $630.00 or as much as $3,500.00, with the average rent median estimated to be $1,200.00. The good news is that finding an affordable and desirable property to rent in Albany, OR -- 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.