Mortgage Rates in Albany, New York: 2026 Guide
30-year fixed: 7.32%. Median home price: $280,000.
Current Mortgage Rates in Albany
| Loan Type | Rate | APR | Monthly Payment* |
|---|---|---|---|
| 30-Year Fixed | 7.32% | 7.400% | $1,539/mo |
| 15-Year Fixed | 6.68% | 6.750% | $1,974/mo |
| 5/1 ARM | 6.46% | 6.810% | $1,410/mo |
Albany Market Insights
Albany’s housing market is anchored by state government employment and a growing tech sector. The market offers good value compared to downstate New York, with a reasonable median home price and relatively stable appreciation. The city’s status as a state capital provides employment stability. Neighborhoods like Center Square and New Scotland offer historic homes, while suburbs such as Guilderland and Bethlehem provide family-friendly options.
Frequently Asked Questions
What is the average mortgage rate in Albany?+
The average 30-year fixed rate in Albany is 7.32%.
How affordable is Albany?+
The median home price of $280,000 makes Albany one of the more affordable state capitals.
What are property taxes like?+
NY property tax rate: 1.45%. Annual taxes: $4,060.