Total monthly cost of ownership
Cost to Own a Home in Albany, Georgia
A $119,000 home here costs
$1,117per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $612. The real number is $505 higher every month — 83% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Albany against Dougherty County and Georgia
| Measure | Albany | Dougherty County |
|---|---|---|
| Median home value | $118,700 | $129,200 |
| Median property tax | $1,718 | $1,800 |
| Effective tax rate | 1.447% | 1.393% |
| Median gross rent | $898 | $905 |
| Population | 67,939 | 83,915 |
The weather behind that power bill
Albany sits in Dougherty County, which averages a high of 93.2°F in its hottest month and a low of 39.1°F in its coldest, with 46.63" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 2,692 cooling and 1,684 heating degree days, which is what sets the $142 electricity line above.
See the full climate breakdown for Dougherty County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Dougherty County
Full Dougherty County cost breakdown · Every county in Georgia
Common questions
How much does it cost to own a home in Albany?
A $119,000 home in Albany, Georgia costs approximately $1,117 per month with 20% down at 6.66%. That is $612 principal and interest, $143 property tax, $52 homeowners insurance, $210 utilities and $99 set aside for maintenance.
What is the property tax rate in Albany?
Albany has an effective property tax rate of 1.447%, based on a median home value of $118,700 and median real estate taxes of $1,718. That is higher than the Dougherty County average of 1.393%.
What is the average home price in Albany?
The median owner-occupied home value in Albany, Georgia is $118,700, against $129,200 across Dougherty County.
Is it cheaper to rent or buy in Albany?
Median gross rent in Albany is $898 a month, against $1,117 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Albany — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Georgia.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.