Real Estate Investing in Albany, New York (12202)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 12202 (Albany, NY)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 15.8% of homes vacant — above national norms.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- Elevated poverty: 25.4% poverty rate — can affect rent collection.
- Higher unemployment: 9.8% unemployment — tenant risk signal.
What’s happening in Albany, NY (12202)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 12202 Albany
The 12202 ZIP in Albany, NY is a local-operator market. Outside capital chasing a $182K entry has to pair deep knowledge with the discount.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 12202 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Put differently, 12202 offers a low basis, the region around Albany has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
A notable renter share of 80% in 12202 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
The 12202 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Albany:
Property Strategy for 12202
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $153,330 | $1,420 | 6.7% | +11.2% | $76,665 |
| 3BR | $174,516 | $1,700 | 7.0% | +10.2% | $58,172 |
| 4BR | $198,955 | $1,880 | 6.8% | +9.0% | $49,739 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 12202 Compare?
| Metric | 12202 | Albany | Albany-Schenectady-Troy, NY | New York |
|---|---|---|---|---|
| Home Value | $182,405 | $223,489 | N/A | $505,608 |
| 5-Year CAGR | 7.8% | 6.7% | N/A | 6.6% |
| Avg Rent | $1,269 | $1,684 | N/A | - |
| Cap Rate | 5.4% | 4.5% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 12202 (Albany, NY). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 12202 (Albany, NY)?
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Property managers serving Albany County
Manage rentals here? List your business →CYC Realty is an association and property management company serving Upstate New York. summary from their website
AllyPropertyManagement.com is a domain name available for sale. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $182,405 |
| Monthly Rent | $1,269 |
| Price-to-Rent | 12.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.4% |
| Cap Rate | 5.4% |
| 5-Year IRR | 13.3% |
📈 Home Appreciation
| 1-Year | +6.0% ▲ |
| 3-Year CAGR | +7.8% ▲ |
| 5-Year CAGR | +7.8% ▲ |
| 10-Year CAGR | +9.1% ▲ |
🏠 Rent Trends
| 1-Year | -7.3% ▼ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (5.4%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 12202
Population: 9,500
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 12202
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
ALBANY SCHOOL OF HUMANITIES
RED MILL SCHOOL
RENSSELAER JUNIOR/SENIOR HIGH SCHOOL
STEPHEN AND HARRIET MYERS MIDDLE SCHOOL
ARBOR HILL ELEMENTARY SCHOOL
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Is vacancy a concern in Albany, NY?
Rental vacancy in Albany, NY is elevated. Investors should budget normal turnover but not chronic empty units.
How viable is house hacking in Albany, NY?
House hacking in Albany, NY is a challenging. With home values around $182K and rents at $1,269/mo, owner-occupants can offset a meaningful share of PITI.
What is the smart move for investors in Albany, NY?
Most investors in Albany, NY run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
What are home prices like in Albany, NY?
Median home price in Albany, NY is near $182K, with a 5-year CAGR of 0.0%. Prices have been consistent and supportive of buy-and-hold strategies.
Are rents high in Albany, NY?
Rents in Albany, NY run near $1,269/mo. Compared with median home prices of $182K that produces solid gross yields for typical rentals.
You know 12202 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 12202 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 12202 ranks in Albany-Schenectady-Troy, NY
Every ZIP in this metro, ranked. Free.
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