Albany-Lebanon, OR
The numbers that matter most
What an investor checks first when sizing up a new metro — affordability ratio, rent vs income, cap rate proxy, and where the market is moving. Each metric shown vs. state and national medians for instant context.
moderate
Price to income
4.70×
The single most-cited 'is this market still cheap' check. Below 3× and you're in an affordability tailwind.
- vs Oregon
- 5.66×-0.96
- vs U.S.
- 3.43×
Benchmark
ACS median home value ÷ median HHI
comfortable
Rent to income
24.5%
What share of a typical household's income goes to rent. Below 30% means tenants can absorb modest rent increases.
- vs Oregon
- 25.3%-0.8
- vs U.S.
- 23.3%
Benchmark
(HUD FMR 2BR × 12) ÷ median HHI
tight
Cap rate proxy
3.40%
Rough first-pass yield assuming a 35% expense ratio. Not an underwriting number — a 'is this even worth modeling' filter.
- vs Oregon
- 2.91%+0.48
- vs U.S.
- 4.35%
Benchmark
(FMR 2BR × 12 × 0.65) ÷ ACS median home value
steady
Net migration
+0.63%
Forward-looking demand signal. Positive net migration drives rent growth and absorbs new supply.
- vs Oregon
- 0.16%+0.47
- vs U.S.
- 0.03%+0.60
Benchmark
IRS net migration ÷ population
tight
Permit pipeline
1.61
permits per 1,000 residents
Forward-supply indicator. Above ~5 means the metro is building meaningfully relative to its size; below 2 means supply is tight.
- vs Oregon
- 3.73
- vs U.S.
- 3.52
Benchmark
Census BPS permits TTM ÷ population × 1,000
softening
Unemployment
5.3%
Tighter unemployment means higher wages, more rental demand, lower vacancy.
- vs Oregon
- 5.0%
- vs U.S.
- 3.9%
Benchmark
BLS LAUS, latest month
Where prices are and where they've been
5-year price appreciation
+46.2%
homeValues.yearOverYear
+4.7%
Median home value
$344,600
The rent ladder
| Bedroom | Monthly | Annual | % of median HHI |
|---|---|---|---|
| 1 BR | $1,236 | $14,832 | 20.2% |
| 2 BR | $1,500 | $18,000 | 24.5% |
| 3 BR | $2,030 | $24,360 | 33.2% |
Labor market direction
Unemployment
5.3%
Median household income
$73,396
What's being built
Total TTM
207
Single-family
165
2–4 unit
20
5+ unit
22
All 1 counties, ranked by population
| County | Population | Home value | Median HHI | Permits TTM | YoY |
|---|---|---|---|---|---|
| Linn County | 128,598 | $344,600 | $73,396 | 207 |
Similar metros nationally
| Metro | Pop | Med HHI | P/I | Cap proxy | HPI 5y | Permits/1k | Unemp |
|---|---|---|---|---|---|---|---|
| ★Albany | 128,598 | $73,396 | 4.70× | 3.40% | +46.2% | 1.61 | 5.3% |
| Pittsfield, MA | 128,763 | $72,565 | — | — | +57.0% | — | 4.9% |
| Glens Falls, NY | 126,994 | $74,953 | — | — | +53.8% | — | 3.9% |
| Ames, IA | 125,273 | $71,090 | — | — | +43.9% | — | 2.4% |
| Staunton, VA | 125,355 | $70,949 | — | — | +55.3% | — | 2.9% |
| Harrisonburg, VA | 135,689 | $72,145 | — | — | +48.7% | — | 3.1% |
Where people are moving in from
Net migration
+809
+0.63% of population
| Origin county | Tax returns |
|---|---|
| Marion County, OR | 720 |
| Benton County, OR | 708 |
| Lane County, OR | 477 |
| Polk County, OR | 152 |
| Washington County, OR | 129 |
| Multnomah County, OR | 113 |
Who lives in Albany
- Median age
- 40
- Bachelor's+
- 20.8%
- Owner-occupancy
- 67.0%
- Vacancy rate
- 4.2%
- Rent burdened (30%+)
- 46.4%
- Median household income
- $73,396
This page shows federally sourced data. A full editorial analysis with charts and investment commentary is in progress.