Cities with the fastest growing home prices in Albany metro area

Written by:
January 19, 2023
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Cities with the fastest growing home prices in Albany metro area

It goes without saying that the coronavirus pandemic has sparked a wave of uncertainty across myriad industries, and no other market has quite felt its impact like that of real estate.

The pandemic has become a driving force behind the continued real estate boom, with high demand for vacation homes and a limited supply of housing that has prompted buyers and investors to bid up prices for affordable properties, causing home prices to skyrocket. The ability to work remotely played a role in the vacation home demand in mid-2020, as affluent Americans opted to ride out the pandemic with more amenities and space outside dense urban areas.

Stacker compiled a list of cities with the fastest-growing home prices in Albany-Schenectady-Troy, NY metro area using data from Zillow. Cities are ranked by 1-year price change as of December 2022. The typical home value in the United States increased over the last year by +8.4%% to $356,819. All 30 cities and towns with data available were included in the list.

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#30. Sharon Springs, NY

- 1-year price change: +$13,843 (+8.8%)
- 5-year price change: +$52,589 (+44.1%)
- Typical home value: $171,794 (#30 most expensive city in metro)
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#29. Watervliet, NY

- 1-year price change: +$13,947 (+5.8%)
- 5-year price change: +$82,032 (+47.7%)
- Typical home value: $253,924 (#22 most expensive city in metro)
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#28. Hoosick Falls, NY

- 1-year price change: +$14,129 (+8.2%)
- 5-year price change: +$74,087 (+66.4%)
- Typical home value: $185,670 (#29 most expensive city in metro)
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#27. Cohoes, NY

- 1-year price change: +$15,608 (+6.0%)
- 5-year price change: +$80,513 (+41.7%)
- Typical home value: $273,632 (#18 most expensive city in metro)
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#26. Schuylerville, NY

- 1-year price change: +$17,240 (+6.8%)
- 5-year price change: +$82,683 (+43.9%)
- Typical home value: $270,830 (#20 most expensive city in metro)

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#25. South Glens Falls, NY

- 1-year price change: +$19,033 (+8.1%)
- 5-year price change: +$75,577 (+42.7%)
- Typical home value: $252,627 (#23 most expensive city in metro)
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#24. Scotia, NY

- 1-year price change: +$19,228 (+9.8%)
- 5-year price change: +$73,942 (+52.6%)
- Typical home value: $214,637 (#27 most expensive city in metro)
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#23. Preston Hollow, NY

- 1-year price change: +$19,462 (+10.7%)
- 5-year price change: +$91,786 (+84.0%)
- Typical home value: $201,040 (#28 most expensive city in metro)
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#22. Hagaman, NY

- 1-year price change: +$21,310 (+10.1%)
- 5-year price change: +$68,248 (+41.6%)
- Typical home value: $232,371 (#26 most expensive city in metro)
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#21. Albany, NY

- 1-year price change: +$21,782 (+8.6%)
- 5-year price change: +$81,188 (+41.8%)
- Typical home value: $275,613 (#16 most expensive city in metro)

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#20. Medusa, NY

- 1-year price change: +$22,348 (+9.7%)
- 5-year price change: +$93,997 (+59.5%)
- Typical home value: $251,977 (#24 most expensive city in metro)
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#19. Ballston Spa, NY

- 1-year price change: +$25,771 (+8.0%)
- 5-year price change: +$91,423 (+35.7%)
- Typical home value: $347,734 (#7 most expensive city in metro)
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#18. Round Lake, NY

- 1-year price change: +$26,636 (+8.9%)
- 5-year price change: +$91,550 (+38.8%)
- Typical home value: $327,487 (#10 most expensive city in metro)
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#17. Schenectady, NY

- 1-year price change: +$27,294 (+11.1%)
- 5-year price change: +$104,354 (+61.8%)
- Typical home value: $273,115 (#19 most expensive city in metro)
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#16. Delanson, NY

- 1-year price change: +$29,650 (+10.8%)
- 5-year price change: +$109,473 (+55.9%)
- Typical home value: $305,272 (#12 most expensive city in metro)

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#15. Northville, NY

- 1-year price change: +$29,834 (+12.1%)
- 5-year price change: +$102,764 (+59.2%)
- Typical home value: $276,417 (#15 most expensive city in metro)
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#14. East Nassau, NY

- 1-year price change: +$30,826 (+11.9%)
- 5-year price change: +$104,122 (+56.0%)
- Typical home value: $289,939 (#13 most expensive city in metro)
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#13. Troy, NY

- 1-year price change: +$31,183 (+13.8%)
- 5-year price change: +$97,956 (+61.3%)
- Typical home value: $257,673 (#21 most expensive city in metro)
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#12. Rotterdam Junction, NY

- 1-year price change: +$31,195 (+14.8%)
- 5-year price change: +$75,041 (+44.9%)
- Typical home value: $242,091 (#25 most expensive city in metro)
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#11. Menands, NY

- 1-year price change: +$34,039 (+11.4%)
- 5-year price change: +$107,431 (+47.6%)
- Typical home value: $333,094 (#9 most expensive city in metro)

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#10. Mechanicville, NY

- 1-year price change: +$34,216 (+9.6%)
- 5-year price change: +$133,964 (+52.0%)
- Typical home value: $391,622 (#3 most expensive city in metro)
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#9. Castleton-on-Hudson, NY

- 1-year price change: +$34,216 (+12.0%)
- 5-year price change: +$114,379 (+55.7%)
- Typical home value: $319,708 (#11 most expensive city in metro)
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#8. Rensselaer, NY

- 1-year price change: +$35,252 (+14.8%)
- 5-year price change: +$109,270 (+66.2%)
- Typical home value: $274,239 (#17 most expensive city in metro)
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#7. Greenfield Center, NY

- 1-year price change: +$35,646 (+10.8%)
- 5-year price change: +$110,543 (+43.5%)
- Typical home value: $364,374 (#4 most expensive city in metro)
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#6. Voorheesville, NY

- 1-year price change: +$36,022 (+11.3%)
- 5-year price change: +$103,185 (+41.2%)
- Typical home value: $353,535 (#6 most expensive city in metro)

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#5. Averill Park, NY

- 1-year price change: +$37,409 (+12.3%)
- 5-year price change: +$127,793 (+59.4%)
- Typical home value: $342,779 (#8 most expensive city in metro)
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#4. Valley Falls, NY

- 1-year price change: +$37,980 (+15.9%)
- 5-year price change: +$104,060 (+60.3%)
- Typical home value: $276,657 (#14 most expensive city in metro)
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#3. Slingerlands, NY

- 1-year price change: +$41,625 (+9.3%)
- 5-year price change: +$134,904 (+38.2%)
- Typical home value: $488,147 (#2 most expensive city in metro)
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#2. West Sand Lake, NY

- 1-year price change: +$43,251 (+13.9%)
- 5-year price change: +$127,519 (+56.4%)
- Typical home value: $353,770 (#5 most expensive city in metro)
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#1. Saratoga Springs, NY

- 1-year price change: +$48,870 (+10.8%)
- 5-year price change: +$155,474 (+45.1%)
- Typical home value: $500,194 (#1 most expensive city in metro)

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