Home Insurance in Albany County, New York
Homes in Albany County carry a median value of $294,600 - 30% lower than the New York median.
The typical home in Albany County was built around 1964. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. About 46% of homes were built before 1960, about 6 points below New York's 52%.
Housing in Albany County breaks down to 54% single-family homes, 21% apartments in buildings with 5+ units and 1% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
About 60% of owner-occupied homes in Albany County have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Albany County has an owner-occupancy rate of 57% and a vacancy rate of 9%; unoccupied homes typically need a different coverage form.
Homes heated with fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. In Albany County, 64% of homes are primarily heated with natural gas.
Per FEMA's National Risk Index, Albany County's top hazards are inland flooding (Relatively Moderate), tornado (Relatively Moderate) and hurricane (Relatively Moderate).
Albany County had 685 active National Flood Insurance Program policies as of September 2026. Standard homeowners insurance does not cover flood damage, so flood coverage needs a separate NFIP or private flood policy.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in New York carries a statewide average premium of $1,801 per year.
Key figures
| Median home value | $294,600 |
|---|---|
| Median year built | 1964 |
| Owner-occupied share | 57% |
| Share of owner-occupied homes with a mortgage | 60% |
| Top hazards (FEMA National Risk Index) | Inland Flooding (Relatively Moderate), Tornado (Relatively Moderate), Hurricane (Relatively Moderate) |
| Active NFIP flood policies (county) | 685 |
| Home insurance premium | $1,801 - statewide average (NAIC, 2023 data) |
Towns and cities
Sources
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)