City of AlbanyEconomic profile
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City of Albany

Rental listings

At June 2016, the City of Albany had a median house rental of $360, $10 higher than the median house rental for Regional WA.

Housing valuation and rental data are a measure of the economic desirability of living in the local area. High and increasing rents are an indication of a strong economy and a desirable area, with access to jobs and services. Units are more commonly rented than houses, and renters tend to be younger than home owners on average. People may rent to be close to employment, entertainment and services, or they may rent while saving to buy a home.

Housing prices often factor in a home ownership premium, but rental costs are a more direct measure of the time-value of living in the area. Increases in rents often have a more direct relationship to employment and demand for housing.

Hometrack 2011-2016, Automated Valuation System

Rental listings
City of Albany20162013Change
Housing value (at June)City of AlbanyRegional WACity of Albany relative to Regional WACity of AlbanyRegional WACity of Albany relative to Regional WA2013 to 2016
House--------------
First Quartile$320$290+10.3%$280$310-9.7%+$40
Median$360$350+2.9%$310$385-19.5%+$50
Third Quartile$411$420-2.1%$369$620-40.5%+$42
Median Rental Yield4.9%5.4%--4.6%5.7%----
Unit--------------
First Quartile$250$250+0.0%$260$295-11.9%-$10
Median$288$300-4.0%$280$370-24.3%+$8
Third Quartile$315$375-16.0%$345$500-31.0%-$30
Median Rental Yield5.3%6.1%--5.0%6.3%----

Source: Hometrack 2011-2016, Automated Valuation System.

Rental listings, 2016
Rental listings, 2016 Third Quartile, Regional WA: $375 Median, Regional WA: $300 First Quartile, Regional WA: $250 Third Quartile, Regional WA: $420 Median, Regional WA: $350 First Quartile, Regional WA: $290 Third Quartile, City of Albany: $315 Median, City of Albany: $288 First Quartile, City of Albany: $250 Third Quartile, City of Albany: $411 Median, City of Albany: $360 First Quartile, City of Albany: $320
Source: Hometrack 2011-2016, Automated Valuation System
Change in rental listings, 2013 to 2016
Change in rental listings, 2013 to 2016 Third Quartile, Regional WA: $-125 Median, Regional WA: $-70 First Quartile, Regional WA: $-45 Third Quartile, Regional WA: $-200 Median, Regional WA: $-35 First Quartile, Regional WA: $-20 Third Quartile, City of Albany: $-30 Median, City of Albany: $8 First Quartile, City of Albany: $-10 Third Quartile, City of Albany: $42 Median, City of Albany: $50 First Quartile, City of Albany: $40
Source: Hometrack 2011-2016, Automated Valuation System

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