Albany, OR home values, income, and owner costs

The local figures answer the first question: In Albany, OR, the 2024 ACS reports a median owner-occupied home value of $389,200, median household income of $78,114, and median selected monthly owner costs of $1,894 for owners with a mortgage. For borrower planning, together, those three reference points can nevertheless help a borrower identify which search-price, income, and recurring-cost assumptions need current verification first. They remain separate medians, not the finances of one representative household, and the $1,894 measure combines recurring ownership expenses in place of real estate taxes alone. A useful affordability review starts with $389,200, $78,114, and $1,894, then replaces them with the borrower's documented income, cash, debts, property taxes, insurance, association charges, loan terms, and intended occupancy.

Albany, OR's $389,200 median home-value estimate is below the statewide $477,600 estimate, with a reported city-to-state gap of 18.5%. For borrower planning, that 18.5% gap is useful for showing that a statewide midpoint may be a poor substitute for a local search range in Albany, OR. It does not mean every local property is 18.5% away from a comparable property elsewhere in the state, because the medians reflect different housing mixes and geographies. A borrower can apply $389,200 and $477,600 to decide which assumptions need local replacement first, then compare actual properties and current financing disclosures on the same basis.