1031 Exchange in Albany Georgia MSA
The Albany, GA MSA offers affordable 1031 exchange opportunities with higher cap rates around 7.3%, low entry costs with median home prices of $120,000, and opportunity zone benefits in a market anchored by military and healthcare employment.
Population
145,451
Key Industries
Military/Defense, Healthcare, Education
Table of Contents
Information is for educational purposes only. Consult qualified professionals for specific advice.
Local Tax Considerations
Property taxes, transfer taxes, and local incentives
Property Tax Rates
Average Rate
1.85%
Assessment Method
Assessed Value (Georgia Property Tax Code)
MSA rate (1.85%) vs State average (1.02%)
+81% above national average
Transfer Taxes & Fees
Transfer Tax Rate
No state transfer tax
Recording fees and intangible tax on notes apply
Local Tax Incentives
Opportunity Zone Investment
Tax deferral and potential exclusion for investments in designated opportunity zones
Eligibility: Properties located in designated Georgia Opportunity Zones within Albany area
Job Creation Tax Credit
$3,500 tax credit per job created through economic development initiatives
Eligibility: Qualifying business developments and expansions
Opportunity Zones
Number of Zones
4
Key Locations
- Downtown Albany
- East Albany
- South Albany
Opportunity Zones offer significant tax benefits for long-term investments, including deferral and potential elimination of capital gains taxes.
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Market Profile Dashboard
Economic indicators and market trends
Population
145,451
Growth: -0.5% annually
Median Income
$54,219
Unemployment
5.8%
Job Growth
+0.8% annually
Economic Drivers
Market Trends
Median Home Price
$120,000
Average Rent
$900/mo
Cap Rates
7.3%
Demographics
Median Age
34.7 years
Bachelor's Degree+
18.2%
Owner Occupied
52.1%
Property Type Analysis
Investment opportunities by asset class
Single-Family Rental
Primary investment opportunity with affordable entry points and strong rental yields supported by military and healthcare employment.
Market Metrics
- Cap Rates: 7.3%
- Vacancy Trends: Moderate vacancy around 8-12% with seasonal fluctuations related to military deployments
- Demand Forecast: Stable demand from military families and healthcare workers, though limited by population decline
Risk Factors
- High poverty rate affecting tenant quality
- Population decline and economic challenges
- Flood risk from Flint River
- Limited economic diversification
Opportunities
- Very affordable entry points for investors
- Strong rental yields compared to national averages
- Opportunity zone benefits in select areas
- Stable military tenant base
Multifamily
Limited opportunities with focus on affordable housing and workforce housing near major employers.
Market Metrics
- Cap Rates: 7.8%
- Vacancy Trends: Higher vacancy rates around 10-15% due to economic challenges and population trends
- Demand Forecast: Modest demand from military personnel and healthcare workers, constrained by economic factors
Risk Factors
- Limited population growth
- Economic dependence on few major employers
- High poverty rates affecting rent collection
- Weather-related maintenance costs
Opportunities
- Affordable acquisition costs
- Potential for value-add improvements
- Stable demand from institutional employers
- Government housing assistance programs
Neighborhood Spotlights
Up-and-coming areas and investment hotspots
Downtown Albany
Historic downtown core with opportunity zone benefits and ongoing revitalization efforts
Investment Thesis
Opportunity zone benefits, low entry costs, and potential for appreciation as downtown revitalization continues, though limited inventory requires patience.
Median Price
$95,000
Price Growth
+45% YoY
Rental Yield
8.2%
Days on Market
35 days
Key Highlights
Development Pipeline
Limited new construction, focus on historic building renovations and adaptive reuse projects
Medical District/Phoebe Area
Area surrounding major healthcare facilities with stable rental demand from medical professionals
Investment Thesis
Consistent rental demand from healthcare workers, proximity to major employers, and stable property values supported by institutional presence.
Median Price
$135,000
Price Growth
+38% YoY
Rental Yield
7.8%
Days on Market
28 days
Key Highlights
Development Pipeline
Limited new residential construction, focus on existing home improvements and medical facility expansions
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Compare Markets
See how this MSA stacks up against others
Compare Markets
| Metric | Albany Georgia (Current) | Columbus Ga Al | Valdosta | Tallahassee |
|---|---|---|---|---|
| Population | 4.0M | 4.0M | 4.0M | 4.0M |
| Median Property Price | $750K | $750K | $750K | $750K |
| Average Cap Rate | 5.2% | 5.2% | 5.2% | 5.2% |
| Job Growth Rate | 2.1% | 2.1% | 2.1% | 2.1% |
| Rental Yield | 4.8% | 4.8% | 4.8% | 4.8% |
| Days on Market | 25 | 25 | 25 | 25 |
Frequently Asked Questions
Common questions about Albany Georgia 1031 exchanges
Albany offers high cap rates around 7.3%, very affordable entry points with median home prices of $120,000, and opportunity zone benefits. The market is supported by stable military employment at Marine Corps Logistics Base Albany and major healthcare systems.
Marine Corps Logistics Base Albany is the largest employer in the area, providing stable rental demand from military families and civilian contractors. Military tenants often prefer rental housing due to deployment schedules and potential relocations.
Yes, Albany has several designated Opportunity Zones, particularly in downtown and surrounding areas. Georgia has 260 total opportunity zones, offering potential tax benefits including deferral and possible exclusion of capital gains for qualifying investments.
Key risks include population decline, high poverty rates (33.8%), economic dependence on few major employers, and flood risk from the Flint River. The market also has limited inventory and can be sensitive to changes in military operations.