Metro area index
Home appreciation in the Albany-Schenectady-Troy, NY metro area
FHFA HPI® data shows the Albany-Schenectady-Troy, NY metro area's all-transactions index changed +7.0% over the year to Q2 2026, versus +5.3% for New York and +3.0% for the U.S. That ranks 41st of 410 metro areas and divisions FHFA tracks.
- 1-year change
- +7.0%
- 5-year change
- +51.0%
- Since Q1 1995
- +253%
- Metro rank (1 year)
- 41st
U.S. +3.0%
U.S. +41.3%
U.S. +292%
of 410
Albany-Schenectady-Troy, NY vs New York and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- Albany-Schenectady-Troy, NY: 353.2
- New York: 433.4
- United States: 391.6
Appreciation by time window
| Window | Metro | NY | U.S. | Gap vs NY | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +7.0% | +5.3% | +3.0% | +1.7 pts | +3.9 pts |
| 3 years | +22.4% | +22.4% | +12.9% | +0.0 pts | +9.5 pts |
| 5 years | +51.0% | +49.9% | +41.3% | +1.2 pts | +9.8 pts |
| 10 years | +84.9% | +96.6% | +93.3% | −11.7 pts | −8.4 pts |
| Since Q1 1995 | +253% | +333% | +292% | −80.2 pts | −38.4 pts |
3-digit ZIP regions in the Albany-Schenectady-Troy, NY area
Regions with at least 10% of their 2010 population inside the metro, largest overlap first. A 3-digit ZIP region can extend beyond the metro boundary.
| 3-digit ZIP region | State | 1 year | 5 years | Since Q1 1995 | Population in metro |
|---|---|---|---|---|---|
| 122 · Albany, NY area | NY | +7.0% | +47.9% | +221% | 100% |
| 123 · Schenectady, NY area | NY | +8.0% | +54.7% | +241% | 100% |
| 121 · Troy, NY area | NY | +3.9% | +48.0% | +244% | 87% |
| 120 · Amsterdam, NY area | NY | +6.3% | +51.3% | +265% | 67% |
| 128 · Saratoga Springs, NY area | NY | +6.0% | +50.0% | +304% | 40% |
Boom, bust, and recovery in Albany-Schenectady-Troy, NY area
Albany-Schenectady-Troy, NY area's index peaked in Q1 2008, fell 7.0% to its low in Q1 2014, and regained its peak in Q3 2017, about 9.5 years after the top. Today it sits +80.7% versus that 2000s peak. How every state and ZIP region fared
| Area | 2000s peak | Low point | Peak to low | Back to peak | Today vs peak |
|---|---|---|---|---|---|
| Metro | Q1 2008 | Q1 2014 | -7.0% | Q3 2017 (9.5 yrs) | +80.7% |
| NY | Q1 2007 | Q2 2012 | -14.0% | Q3 2017 (10.5 yrs) | +85.2% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, Albany-Schenectady-Troy, NY area's index has changed +59.5% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | Metro after inflation | NY after inflation | U.S. after inflation |
|---|---|---|---|---|
| 1 year | +3.9% | +3.0% | +1.4% | -0.8% |
| 3 years | +9.8% | +11.5% | +11.5% | +2.8% |
| 5 years | +24.0% | +21.8% | +20.8% | +13.9% |
| 10 years | +39.1% | +33.0% | +41.4% | +39.0% |
| Since Q1 1995 | +121% | +59.5% | +95.8% | +76.8% |
If you bought in the Albany-Schenectady-Troy, NY area in…
An example $300,000 purchase grown at the metro index rate to Q2 2026.
| Bought in | Index change | $300,000 then, at the metro rate |
|---|---|---|
| Q2 1995 | +250% | $1,051,250 |
| Q2 2000 | +235% | $1,005,743 |
| Q2 2005 | +107% | $621,743 |
| Q2 2010 | +88.8% | $566,430 |
| Q2 2015 | +88.5% | $565,613 |
| Q2 2020 | +65.3% | $495,928 |
| Q2 2021 | +51.0% | $453,144 |
| Q2 2023 | +22.4% | $367,202 |
| Q2 2025 | +7.0% | $320,890 |
Frequently asked questions
- How much have home prices risen in the Albany-Schenectady-Troy, NY area?
- FHFA HPI® data for the Albany-Schenectady-Troy, NY metro area shows changes of +7.0% over one year, +51.0% over five years, and +84.9% over ten years to Q2 2026, and +253% since Q1 1995.
- Is the Albany-Schenectady-Troy, NY area beating the national average?
- Over the past year the metro's index moved +3.9 pts versus the U.S.; over five years the gap is +9.8 pts.
- What area does this metro index cover?
- FHFA computes metro indexes using the counties in each OMB-defined metropolitan statistical area. The index covers the whole area, so individual neighborhoods and homes can differ from it.