City of AlbanyEconomic profile
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City of Albany

Rental listings

At June 2017, the City of Albany had a median house rental of $360, $20 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 2013-2017, Automated Valuation System

Rental listings
City of Albany20172013Change
Housing value (at June)City of AlbanyRegional WACity of Albany relative to Regional WACity of AlbanyRegional WACity of Albany relative to Regional WA2013 to 2017
House--------------
First Quartile$320$280+14.3%$280$310-9.7%+$40
Median$360$340+5.9%$310$385-19.5%+$50
Third Quartile$415$400+3.8%$369$620-40.5%+$46
Median Rental Yield5.0%5.5%--4.6%5.7%----
Unit--------------
First Quartile$240$235+2.1%$260$295-11.9%-$20
Median$290$295-1.7%$280$370-24.3%+$10
Third Quartile$349$360-3.1%$345$500-31.0%+$4
Median Rental Yield5.6%6.7%--5.0%6.3%----

Source: Hometrack 2011-2016, Automated Valuation System.

Rental listings, 2017
Rental listings, 2017 Third Quartile, Regional WA: $360 Median, Regional WA: $295 First Quartile, Regional WA: $235 Third Quartile, Regional WA: $400 Median, Regional WA: $340 First Quartile, Regional WA: $280 Third Quartile, City of Albany: $349 Median, City of Albany: $290 First Quartile, City of Albany: $240 Third Quartile, City of Albany: $415 Median, City of Albany: $360 First Quartile, City of Albany: $320
Source: Hometrack 2011-2016, Automated Valuation System
Change in rental listings, 2013 to 2017
Change in rental listings, 2013 to 2017 Third Quartile, Regional WA: $-140 Median, Regional WA: $-75 First Quartile, Regional WA: $-60 Third Quartile, Regional WA: $-220 Median, Regional WA: $-45 First Quartile, Regional WA: $-30 Third Quartile, City of Albany: $4 Median, City of Albany: $10 First Quartile, City of Albany: $-20 Third Quartile, City of Albany: $46 Median, City of Albany: $50 First Quartile, City of Albany: $40
Source: Hometrack 2011-2016, Automated Valuation System

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