Real Estate Investing in Albany, New York (12206)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 12206 (Albany, NY)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A balanced market — moderate cash flow and moderate appreciation. A "steady" investor profile fits best.
- High vacancy: 23.1% of homes vacant — above national norms.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- Elevated poverty: 35.4% poverty rate — can affect rent collection.
- Higher unemployment: 9.4% unemployment — tenant risk signal.
What’s happening in Albany, NY (12206)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 12206 Albany
Investors eyeing 12206 need to respect the fundamentals at play. Home values of $229K come alongside slower price movement and elevated management overhead.
Rent of $1,797/mo on a $229K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 12206 sits below the stated 0.0% once reality is priced in.
Meanwhile, 12206 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.
Employment concentration in 12206 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Strategically, 12206 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Albany:
Property Strategy for 12206
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $163,114 | $1,690 | 7.5% | +8.5% | $81,557 |
| 3BR | $228,296 | $2,030 | 6.4% | +8.2% | $76,099 |
| 4BR | $215,136 | $2,240 | 7.5% | +7.8% | $53,784 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 12206 Compare?
| Metric | 12206 | Albany | Albany-Schenectady-Troy, NY | New York |
|---|---|---|---|---|
| Home Value | $228,714 | $223,489 | N/A | $505,608 |
| 5-Year CAGR | 7.4% | 6.7% | N/A | 6.6% |
| Avg Rent | $1,797 | $1,684 | N/A | - |
| Cap Rate | 6.1% | 4.5% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 12206 (Albany, NY). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 12206 (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 | $228,714 |
| Monthly Rent | $1,797 |
| Price-to-Rent | 10.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 9.4% |
| Cap Rate | 6.1% |
| 5-Year IRR | 13.5% |
📈 Home Appreciation
| 1-Year | +10.2% ▲ |
| 3-Year CAGR | +8.1% ▲ |
| 5-Year CAGR | +7.4% ▲ |
| 10-Year CAGR | +7.5% ▲ |
🏠 Rent Trends
| 1-Year | -1.1% ▼ |
| 3-Year CAGR | +3.4% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (6.1%). 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 12206
Population: 14,592
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 12206
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
ALBANY SCHOOL OF HUMANITIES
NORTH ALBANY ACADEMY MIDDLE SCHOOL
SOUTHGATE SCHOOL
STEPHEN AND HARRIET MYERS MIDDLE SCHOOL
WILLIAM S HACKETT MIDDLE 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 real estate in Albany, NY a good investment right now?
Investors tracking Albany, NY will find a 4.0/5 rating supported by $229K median home values and $1,797/mo rents. That profile suits long-term holders targeting steady returns.
Are rents high in Albany, NY?
Rental rates in Albany, NY average $1,797/mo. Tenant demand and $229K home values make the yield look reasonable by investor standards.
How strong is the working-renter base in Albany, NY?
Albany, NY offers a consistent renter base at the $1,797/mo rent level. Tenant turnover is reasonable for well-managed properties.
Is Albany, NY landlord-friendly?
The landlord environment in Albany, NY is tenant-protective. Statewide rules shape most day-to-day operations for rental owners.
What is the typical vacancy rate in Albany, NY?
Rental vacancy in Albany, NY is elevated. Investors should budget normal turnover but not chronic empty units.
You know 12206 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 12206 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 12206 ranks in Albany-Schenectady-Troy, NY
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