Real Estate Investing in Albany, Oregon (97321)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 97321 (Albany, OR)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Albany, OR (97321)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 97321 Albany
Investors eyeing 97321 need to respect the fundamentals at play. Home values of $514K come alongside slower price movement and elevated management overhead.
The investment case in 97321 is notable only for operators who understand what they are buying. A $514K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Regionally, 97321 sits on the difficult end of the OR spectrum. The an appealing option for read — for disciplined operators — is that pricing reflects the difficulty.
Employment concentration in 97321 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
The right play in 97321 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Albany:
Property Strategy for 97321
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $260,774 | $1,210 | 3.3% | +3.5% | $260,774 |
| 2BR | $323,978 | $1,490 | 3.3% | +7.3% | $161,989 |
| 3BR | $486,706 | $2,080 | 3.1% | +6.5% | $162,235 |
| 4BR | $582,550 | $2,340 | 2.9% | +6.6% | $145,638 |
| 5BR | $632,433 | — | — | +6.0% | $126,487 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 97321 Compare?
| Metric | 97321 | Albany | Corvallis, OR | Oregon |
|---|---|---|---|---|
| Home Value | $513,618 | $461,250 | N/A | $493,884 |
| 5-Year CAGR | 3.8% | 3.8% | N/A | 4.9% |
| Avg Rent | $1,794 | $1,756 | N/A | - |
| Cap Rate | 2.7% | 3.0% | - | - |
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 97321 (Albany, OR). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $513,618 |
| Monthly Rent | $1,794 |
| Price-to-Rent | 23.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.2% |
| Cap Rate | 2.7% |
| 5-Year IRR | 6.5% |
📈 Home Appreciation
| 1-Year | +1.4% ▲ |
| 3-Year CAGR | +1.7% ▲ |
| 5-Year CAGR | +3.8% ▲ |
| 10-Year CAGR | +6.8% ▲ |
🏠 Rent Trends
| 1-Year | -15.1% ▼ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.7%). 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 97321
Population: 30,996
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 97321
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.
🎓 Nearby Colleges & Universities
Investor Insight: With 3,490 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How strict are landlord regulations in Albany, OR?
Albany, OR operates under OR law, which is landlord-friendly overall for landlords. Expect steady treatment in typical lease and eviction cases.
How deep is the rental pool in Albany, OR?
Expect a solid tenant pool in Albany, OR. The rental market absorbs $1,794/mo rents without meaningful friction.
Can I live-in-and-rent in Albany, OR?
The house hack math a challenging in Albany, OR. Owner-occupant buyers benefit from the $1,794/mo rents and $514K home values.
Is Albany, OR a smart market for rental property?
With a 3.0/5 investability score, Albany, OR ranks as a solid market for rental property investors. Median prices of $514K and rents of $1,794/mo drive the underlying numbers.
Where do home prices stand in Albany, OR?
Albany, OR median home values land near $514K. That is reasonable territory for investors looking at $1,794/mo-per-month rentals.
You know 97321 now. You don’t know where it ranks.
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How 97321 ranks in Corvallis, OR
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