Total monthly cost of ownership
Cost to Own a Home in Albany, Texas
A $163,000 home here costs
$1,569per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $67,000 a year.
A standard mortgage calculator would have told you $889. The real number is $680 higher every month, 77% more than the payment most buyers budget for.
Compare Shackelford County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Albany from a five-year rolling sample, and with about 1,725 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Shackelford County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Albany against Shackelford County and Texas
| Measure | Albany | Shackelford County |
|---|---|---|
| Median home value | $162,500 | $176,900 |
| Median property tax | $2,326 | $2,276 |
| Effective tax rate | 1.431% | 1.287% |
| Median gross rent | $478 | $485 |
| Population | 1,725 | 3,169 |
The weather behind that power bill
Albany sits in Shackelford County, which averages a high of 94.9°F in its hottest month and a low of 31.5°F in its coldest, with 28.92" of precipitation a year and 35% of it in a single three-month stretch. That climate drives 2,355 cooling and 2,666 heating degree days, which is what sets the $174 electricity line above.
See the full climate breakdown for Shackelford County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Shackelford County
No other places of this size are published in Shackelford County.
Full Shackelford County cost breakdown · Every county in Texas
Talk to someone who works this market
These are Albany averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Albany every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Albany I already own here and may sell
Common questions
How much does it cost to own a home in Albany?
A $163,000 home in Albany, Texas costs approximately $1,569 per month with 20% down at 7.24%. That is $889 principal and interest, $194 property tax, $108 homeowners insurance, $242 utilities and $136 set aside for maintenance.
What is the property tax rate in Albany?
Albany has an effective property tax rate of 1.431%, based on a median home value of $162,500 and median real estate taxes of $2,326. That is higher than the Shackelford County average of 1.287%.
What is the average home price in Albany?
The median owner-occupied home value in Albany, Texas is $162,500, against $176,900 across Shackelford County.
Is it cheaper to rent or buy in Albany?
Median gross rent in Albany is $478 a month, against $1,569 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Albany?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Albany, Texas at today's rate takes a household income of roughly $67,000 a year. That covers the full $1,569 monthly cost, not just the mortgage payment.
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 Texas.
- 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.