Quick facts: Albany, OR

Quick Facts

111
Cost of Living
above US average
56,891
Population
29.6
Crime Rate per 1000
above US average
$69,777
Median Income
below US average
$534,500
Median House Price
above US average
$2143.33
Average Rent
above US average
9%
Poverty Rate
below US average
4.2%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $69,777.

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Income Needed to Buy

βœ— Stretch
$168k/year
Based on $534,500 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $168k vs median $69,777
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Income Needed to Rent

⚠ Stretch
$92k/year
Based on $2143.33/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $92k vs median $69,777
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Albany, OR

Albany, Oregon, located in the Willamette Valley, is a vibrant city known for its rich history and charming atmosphere. With a population of around 52,000, Albany serves as a regional hub for Linn and Benton Counties. The city is distinguished by its well-preserved historic downtown, featuring over 700 buildings listed on the National Register of Historic Places, showcasing beautiful architecture from the 19th century. Albany is also renowned for its parks and outdoor recreational opportunities. The city boasts several parks, including the expansive Albany Linear Park, which offers trails for walking and biking along the banks of the Willamette River. Residents and visitors can enjoy various cultural events, such as the annual Albany Timber Carnival and the historic carousel. The economy thrives on sectors like healthcare, education, and manufacturing, with facilities like Samaritan Albany General Hospital playing a crucial role. Additionally, Albany's strategic location, near both Portland and Eugene, enhances its appeal as a place to live and work. With a community-focused environment and diverse amenities, Albany combines small-town charm with urban convenience.

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