ALBANY, N.Y. (STACKER) — Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value. Given the current state of the real estate market, housing affordability plays a determining role for buyers. As of August 11, 2022, the 30-year fixed mortgage rate sits at 5.42%. As a result of higher mortgage rates across the board, home prices have risen significantly. The typical home value in the United States increased over the last year by +14.9% to $357,810.

Although home prices have inflated all across the U.S., there are definitely certain areas that have a higher price tag than others. Location, size, age, and condition are all contributing factors to home value. Whether you choose to hold off your home-buying plans in hopes of the market cooling down or are looking to buy ASAP, it’s good to educate yourself on the market in different cities.

Stacker compiled a list of cities with the most expensive homes in Albany using data from Zillow. Cities are ranked by the Zillow Home Values Index for all homes as of September 2022. The ZVHI represents a seasonally adjusted price for the middle market for all homes. Data was available for 30 cities and towns in Albany.

30. Sharon Springs

  • Typical home value: $169,660
  • 1-year price change: +11.3%
  • 5-year price change: +41.1%

29. Hoosick Falls

  • Typical home value: $183,938
  • 1-year price change: +11.1%
  • 5-year price change: +57.7%

28. Preston Hollow

  • Typical home value: $203,659
  • 1-year price change: +14.1%
  • 5-year price change: +85.6%

27. Scotia

  • Typical home value: $213,049
  • 1-year price change: +11.9%
  • 5-year price change: +49.6%

26. Hagaman

  • Typical home value: $227,626
  • 1-year price change: +12.0%
  • 5-year price change: +40.2%

25. Rotterdam Junction

  • Typical home value: $235,705
  • 1-year price change: +12.5%
  • 5-year price change: +33.9%

24. Troy

  • Typical home value: $251,693
  • 1-year price change: +14.5%
  • 5-year price change: +59.3%

23. Medusa

  • Typical home value: $254,761
  • 1-year price change: +13.9%
  • 5-year price change: +62.3%

22. South Glens Falls

  • Typical home value: $256,822
  • 1-year price change: +12.5%
  • 5-year price change: +41.5%

21. Watervliet

  • Typical home value: $260,114
  • 1-year price change: +9.5%
  • 5-year price change: +50.9%

20. Schenectady

  • Typical home value: $263,332
  • 1-year price change: +11.7%
  • 5-year price change: +59.7%

19. Rensselaer

  • Typical home value: $268,968
  • 1-year price change: +15.6%
  • 5-year price change: +62.8%

18. Schuylerville

  • Typical home value: $269,927
  • 1-year price change: +8.3%
  • 5-year price change: +45.1%

17. Valley Falls

  • Typical home value: $271,143
  • 1-year price change: +17.1%
  • 5-year price change: +60.6%

16. Northville

  • Typical home value: $274,000
  • 1-year price change: +14.3%
  • 5-year price change: +59.6%

15. Cohoes

  • Typical home value: $278,126
  • 1-year price change: +10.0%
  • 5-year price change: +43.5%

14. Albany

  • Typical home value: $279,129
  • 1-year price change: +12.0%
  • 5-year price change: +43.1%

13. East Nassau

  • Typical home value: $280,456
  • 1-year price change: +11.4%
  • 5-year price change: +51.6%

12. Delanson

  • Typical home value: $287,292
  • 1-year price change: +10.6%
  • 5-year price change: +47.2%

11. Castleton-on-Hudson

  • Typical home value: $311,740
  • 1-year price change: +14.6%
  • 5-year price change: +55.7%

10. Round Lake

  • Typical home value: $335,052
  • 1-year price change: +9.3%
  • 5-year price change: +39.5%

9. Averill Park, New York

  • Typical home value: $335,258
  • 1-year price change: +12.6%
  • 5-year price change: +57.2%

8. Menands

  • Typical home value: $337,658
  • 1-year price change: +14.0%
  • 5-year price change: +44.2%

7. West Sand Lake

  • Typical home value: $344,898
  • 1-year price change: +14.6%
  • 5-year price change: +53.0%

6. Ballston Spa

  • Typical home value: $348,452
  • 1-year price change: +8.6%
  • 5-year price change: +34.9%

5. Voorheesville

  • Typical home value: $358,982
  • 1-year price change: +14.5%
  • 5-year price change: +41.8%

4. Greenfield Center

  • Typical home value: $359,010
  • 1-year price change: +11.1%
  • 5-year price change: +40.5%

3. Mechanicville

  • Typical home value: $389,691
  • 1-year price change: +9.4%
  • 5-year price change: +50.6%

2. Saratoga Springs

  • Typical home value: $494,205
  • 1-year price change: +11.1%
  • 5-year price change: +45.5%

1. Slingerlands

  • Typical home value: $496,133
  • 1-year price change: +14.7%
  • 5-year price change: +40.3%