Rent vs buy in Albany, OR
In Albany, Oregon, the typical rent is $1,735 /mo and the typical home $433,091.
Over 7 years, renting wins by $39k
Today's mortgage rate and a 20% down payment are paired with Albany's typical rent and home value. The break-even point is year 14.
An opinion is clearly labeled, with the math shown. These are estimates, not quotes. The stamp changes when you change a number.
- Renting is ahead by
- $39k after 7 years
- Break-even point
- Year 14 when owning catches up
- The real cost of owning
- $3,761 each month year 1, against $1,735 rent
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Albany's typical rent and home value are what the stamp uses. Your rent, price and years may flip the result.
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In Albany, is it cheaper to rent or to buy?
Renting costs $38,710 less across 7 years, including the money you receive after selling. For the first 13 years, renting costs less. By year 14, owning catches up.
Renting Owning The net cost so far, by year.
Albany's average rent compared with the mortgage payment
Rent and a mortgage don't cover every monthly expense. Here are all year 1 costs at Albany's typical price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,735 | All of it, every month |
| Mortgage payment | $2,361 | $2,081 of it is interest in year 1 |
| Property tax | $368 | 1.02% of the value a year |
| Insurance | $66 | Census median for the city |
| Upkeep | $361 | 1% of the value a year |
| Owning, cash out | $3,156 | $280 of it builds equity |
| Lost return on the down payment | $704 | At 8.3% a year, what the cash would earn |
| Buying costs, spread out | $180 | 3.5% of the price over 7 years |
| True cost of owning | $3,761 | Subtract the equity portion from cash out, then add both items above. |
Albany's verdict, by the numbers
- Typical home valueZillow ZHVI, September 2026
- $433,091
- Typical rentZillow ZORI, September 2026
- $1,735 /mo
- Down payment20% avoids private mortgage insurance, which the engine does not model
- 20%
- Mortgage rateFreddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Home price growthFHFA house price index, Oregon, 1995 to 2025
- 4.9% a year
- Rent growthCPI rent of primary residence, yearly growth 2006 to 2026
- 3.5% a year
- Return on savings60% S&P 500 with dividends and 40% 10-year Treasuries, rebalanced yearly, 1928 to 2025
- 8.3% a year
- Property taxCensus ACS 2020-2024, Albany
- 1.02% of value
- Home insuranceCensus ACS 2020-2024, Albany
- $66 /mo
- MaintenanceFannie Mae, low end of 1% to 4%
- 1% of value a year
- Buying costsFreddie Mac, middle of 2% to 5%
- 3.5% of price
- Selling costsAgent commission plus closing costs
- 6% of price
What would flip the result in Albany?
For Albany, each line marks where the 7-year result changes. All other factors stay as they are.
When renting wins
- Home prices growing by under 5.9% each year meets this condition (4.9%, Oregon's long-run rate, is the rate we use).
- The mortgage rate remains above 5.65%.
- For this type of home, monthly rent comes in under $2,150; the local typical figure is $1,735.
- Before year 14, you move.
When buying wins
- Home prices rise faster than 5.9% a year.
- Today's rate is 7.24%, and you lock in one below 5.65%.
- You'd pay more than $2,150 monthly to rent the same home.
- You remain for 14 years or longer.
Albany compared with the other 812 cities
| Measure | Albany | Median city |
|---|---|---|
| Typical home value | $433,091 | $422,451 |
| Typical rent | $1,735 /mo | $1,837 /mo |
| Price-to-rent ratio | 20.8 (#299 of 813) | 18.5 |
| Home prices, last 10 years | 7% a year | 6.2% a year |
| Property tax | 1.02% | 0.87% |
| Households that rent | 41% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More cities in Oregon
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