Mortgage payment estimates, closing cost breakdowns, and homebuying data for Albany, Oregon.
Median Home Price
$355K
Population
56K
Avg Monthly Rent
$1,280
Property Tax Rate
0.93% *
* Property tax shown is the Oregon state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Albany.
Albany vs Oregon Median
The median home price in Albany is $355,000, which is 26% below the Oregon state median of $480,000.
Mortgage Calculator — Albany, OR
Pre-filled with Albany median home price and Oregon tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $355K home using Oregon's 0.93% tax rate and $1,400/yr insurance.
5% Down
$2,720/mo
Down: $17,750
Loan: $337K
P&I: $2,132
Tax: $275
Insurance: $117
PMI: $197
10% Down
$2,598/mo
Down: $35,500
Loan: $320K
P&I: $2,019
Tax: $275
Insurance: $117
PMI: $186
20% Down (No PMI)
$2,187/mo
Down: $71,000
Loan: $284K
P&I: $1,795
Tax: $275
Insurance: $117
Income needed (28% rule): $94K/year with 20% down, $111K/year with 10% down.
Rent vs Buy in Albany
Rent
$1,280/mo
vs
Buy (10% down)
$2,598/mo
Price-to-rent ratio: 23.1 — At a ratio above 20, renting may be more economical in Albany for shorter stays. Buying costs $1,318 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Albany is $355,000, 26% below the Oregon state median of $480,000. With a population of 56,472, Albany is a smaller market where home prices tend to be more accessible than in many parts of Oregon.
Property taxes in Oregon average 0.93% annually. This moderate property tax rate means a $355,000 home in Albany would carry roughly $275/month in property taxes. Homeowners insurance in Oregon runs approximately $1,400 per year. This is within the normal range nationally.
Average rent in Albany is $1,280/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Albany presents moderate affordability. The $355K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Albany.