Albany, NY

Population: 98,424
Average annual home appreciation rate: 8.27%
Total of homes for sale in this market: 592
Median home price: $174,819
Median Rent: $865 per room
Home price range: 48.73% of homes are between $99,001 – $198,000
Median sales price: $199,500
Number of homes: 917
Median foreclosure sales price: $87,308
Foreclosure discount: 56%
Most common home type: 42.78% of homes are SMALL APARTMENT BUILDINGS
Number of vacant homes: 16.00%
Number of renters: 65.08%
Number of owner occupied: 34.92%
Number people living below poverty level: 25.16%
Unemployment rate: 5.20%
Is this area perfect for real estate deals going on right now? With the history of positive appreciation in the Albany area, a rental property (based on the much higher than average rental rates) could be a profitable investment for the savvy buy and hold investor.

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