Total monthly cost of ownership
Cost to Own a Home in Albany, Oregon
A $353,000 home here costs
$2,699per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,815. The real number is $884 higher every month — 49% 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 Linn County and Oregon
| Measure | Albany | Linn County |
|---|---|---|
| Median home value | $352,900 | $344,600 |
| Median property tax | $3,891 | $3,130 |
| Effective tax rate | 1.103% | 0.908% |
| Median gross rent | $1,311 | $1,273 |
| Population | 56,773 | 129,794 |
Albany extends across 2 counties. Figures here use Linn County, where most of its housing sits.
The weather behind that power bill
Albany sits in Linn County, which averages a high of 79.9°F in its hottest month and a low of 32.6°F in its coldest, with 63.09" of precipitation a year and 42% of it in a single three-month stretch. That climate drives 118 cooling and 5,540 heating degree days, which is what sets the $146 electricity line above.
See the full climate breakdown for Linn County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Linn County
Common questions
How much does it cost to own a home in Albany?
A $353,000 home in Albany, Oregon costs approximately $2,699 per month with 20% down at 6.66%. That is $1,815 principal and interest, $324 property tax, $51 homeowners insurance, $214 utilities and $294 set aside for maintenance.
What is the property tax rate in Albany?
Albany has an effective property tax rate of 1.103%, based on a median home value of $352,900 and median real estate taxes of $3,891. That is higher than the Linn County average of 0.908%.
What is the average home price in Albany?
The median owner-occupied home value in Albany, Oregon is $352,900, against $344,600 across Linn County.
Is it cheaper to rent or buy in Albany?
Median gross rent in Albany is $1,311 a month, against $2,699 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 Oregon.
- 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.