Real Estate Investing in Albion, Nebraska (68620)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 68620 (Albion, NE)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 11.5% vacancy may signal weakening demand.
- High price-to-rent: Price-to-rent ratio 29.1 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Albion, NE (68620)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 68620 Albion
The 68620 ZIP in Albion, NE is a local-operator market. Outside capital chasing a $321K entry has to pair deep knowledge with the discount.
In practical terms, the numbers look inviting — $321K purchase price, 0.0% nominal cap — the work to hit that pro forma in 68620 is substantial and deserves full respect.
Within NE, ZIP 68620 trails on several market indicators that neighboring Boone County submarkets outperform. The gap is real and significant enough to shape underwriting.
Resident income in 68620 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Experienced landlords with local relationships tend to find 68620 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Albion:
Property Strategy for 68620
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $228,250 | $1,020 | 3.2% | +8.6% | $114,125 |
| 3BR | $290,094 | $1,350 | 3.4% | +8.5% | $96,698 |
| 4BR | $349,757 | $1,350 | 2.8% | +8.0% | $87,439 |
Market Trends
Home Value History (with trend line)
📊 How Does 68620 Compare?
| Metric | 68620 | Albion | Nebraska |
|---|---|---|---|
| Home Value | $320,688 | $320,688 | $269,423 |
| 5-Year CAGR | 6.8% | 6.8% | 6.7% |
| Avg Rent | $918 | $918 | - |
| Cap Rate | 2.2% | 2.2% | - |
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 68620 (Albion, NE). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $320,688 |
| Monthly Rent | $918 |
| Price-to-Rent | 29.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.4% |
| Cap Rate | 2.2% |
| 5-Year IRR | 9.0% |
📈 Home Appreciation
| 1-Year | +6.9% ▲ |
| 3-Year CAGR | +7.8% ▲ |
| 5-Year CAGR | +6.8% ▲ |
| 10-Year CAGR | +7.4% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.2%). 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 68620
Population: 2,927
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 68620
Schools in This ZIP Code
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.
Frequently Asked Questions
What price range are homes in Albion, NE?
Homes in Albion, NE typically sell near $321K. Prices have moved at a 0.0% 5-year CAGR, which measured long-term demand.
Is vacancy a concern in Albion, NE?
Albion, NE vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
How strong is the working-renter base in Albion, NE?
Albion, NE offers a stable renter base at the $918/mo rent level. Tenant turnover is reasonable for well-managed properties.
What is it like being a landlord in Albion, NE?
Landlord-friendliness in Albion, NE is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
Does house hacking make sense in Albion, NE?
For house hackers, Albion, NE is a challenging. The $918/mo rent on a unit helps defray the mortgage on a $321K property.
You know 68620 now. You don’t know where it ranks.
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