Market Overview
Home Prices in Albany, IL
The median home value in Albany, IL is $173,645 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 8.7% compared to a year ago and up 3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Albany are priced58% below average. Albany is part of the Sterling, IL metro area.
Over the past five years, Albany home values have risen by approximately27.4%, reflecting strong long-term appreciation in this market.
Price History
Albany Home Price Trend
City Comparison
Albany vs. National Median
At $173,645, homes in Albany cost 58% below the national median of $410,000. This makes Albany a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Albany?
20% Down Payment
$34,729
on $173,645
Monthly P&I
$906/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,151/mo
incl. taxes & insurance
Income Needed
$46,040
gross annual (30% rule)
10% Down Option
$17,365
+ PMI applies
Loan Amount (20% dn)
$138,916
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Albany, IL?
The median home value in Albany is $173,645 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 8.7% year-over-year.
How much have home prices changed in Albany?
Over the past year, home values in Albany have increased by 8.7%. Over five years, prices have risen approximately 27.4%.
How much do I need to earn to buy a home in Albany?
To comfortably afford the median home price of $173,645 with a 20% down payment ($34,729) at today's rates (6.8%), you'd need a gross annual income of approximately $46,040. This assumes keeping total housing costs at or below 30% of gross income.
How does Albany compare to the national average home price?
The national median home value is approximately $410,000. At $173,645, homes in Albany are 58% below the national average.
What metro area is Albany part of?
Albany is part of the Sterling, IL metropolitan area. Home prices and market conditions can vary across the broader metro region.