Commercial Real Estate Market in Albany, NY
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
915 active listings and 4,623 off-market properties in Albany, NY. Commercial property asks $133/SF to buy and $15.25/SF/Yr to lease.
Market Trends
Albany, NY spans 51.9 square miles in Albany County, New York. Figures below refresh monthly; last updated 31 October 2026.
Office
Office space in Albany, NY asks $13.94/SF/Yr to lease, and the average asking price across Albany County is $122/SF. Vacancy runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Retail
Retail space in Albany, NY asks $13.37/SF/Yr to lease, and the average asking price across Albany County is $127/SF. Vacancy runs 5.8% in 2025, little changed from 5.4% in 2020. Nearly 1.2x the 2023 low of 4.7%.
Industrial
Industrial vacancy in Albany, NY runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Multifamily
Across Albany County, multifamily space asks $124/SF to buy. Multifamily vacancy in Albany, NY runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 34.5%
- Mixed use 30.8%
- Open space 25.9%
- Industrial 8.9%
Largest Zones share of zoned land by district
LC Land Conservation. (a) Concept. (b) Purpose. The purpose of the LC District is to provide for and protect publicly-owned parks, open spaces, natural areas, wildlife refuges, and other green spaces throughout the City.
Market overview
Demographics & Economy
Albany, NY has 155,680 residents in 74,222 households. Density runs 2,999 people per square mile. Median household income here is $75,986 and median gross rent $1,419 a month.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Albany?
How much does it cost to lease commercial space in Albany?
Where does Realmo's Albany market data come from?
Methodology & data sources
- Asking prices and medians
- There are 554 active for-sale and 361 active for-lease listings in Albany, NY. The medians are based on 442 of the for-sale and 113 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 14,064 zoned acres across 19 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 October 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Northeast region level, industrial vacancy is reported at Northeast region level and multifamily vacancy is reported at Northeast region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 October 2026 · How Realmo checks market page data · Report a data issue
