Albany County, NY

Albany County presents a carry-cost-versus-price-growth tension. Zillow’s county median home value of $377,493 and median asking rent of $1,649 per month produce the reported 5.24% gross yield before costs, but the effective property-tax rate is 1.77% and median annual tax is $5,200. Investors requiring current cash flow should investigate post-tax economics rather than treat gross yield as distributable income.

Zillow’s value rose 4.78% year over year in its supplied county period. In the distinct supplied FHFA annual period, the repeat-transaction HPI rose 5.01% and stood 50.55% higher cumulatively over its stated horizon. The index corroborates direction, but is not a home value and cannot be blended with Zillow into one appreciation rate. HUD’s FMR payment standard is $1,702, not an asking-rent estimate; measured asking rent is 96.90% of that standard.

Workplace evidence is constructive but qualified: QCEW annual covered employment rose 1.10%, not resident employment or unemployment, and Education and health services, the largest disclosed private supersector, accounted for 25.00% of private covered jobs. Net tax-return migration was negative 510 households; movers leaving had average adjusted gross income $13,195 above arrivals. Non-occupant investor mortgages were 15.31% of 2,632 purchases, a competing-buyer measure rather than proof of rental demand. In Realtor.com’s supplied MLS period, active listings declined year over year while median listing price fell 5.46%; 32 median days on market and 9.52% price reductions show marketing time and seller concessions, not closed sales or demand alone.

Inland flood is the dominant hazard. Modeled expected annual climate loss equals 0.08% of building value, a county-level model result rather than a parcel loss or insurance quote. Flood-zone and elevation data, insurance terms, property-level taxes, operating expenses, vacancy and lease-renewal evidence, and closed-sale and rental comps are not published here; their absence prevents a net-yield, hazard-adjusted valuation, or submarket demand conclusion.