42602, Albany, KY

The 42602 zip code of Albany, KY is located in the southeastern corner of Kentucky and includes a population of about 30,000. The median home value in this zip code is $128,900 and the median home equity is $101,500. The average monthly mortgage payment for a home in this zip code is $1,539.

The 42602 zip code has seen moderate growth over the past few years. In 2014, the median home value was $127,600 and the median home equity was $100,000. In 2015, the median home value increased to $128,900 and the median home equity increased to $101,500. This year (2016), so far there has been modest growth with the median home value at $128,900 and the median home equity at $101,500.

There are several factors that may be contributing to this moderate growth in Albany over recent years:

-The economy has been improving slowly but steadily since 2012

-Low interest rates have helped to stimulate buying activity

-The number of homes available for sale has remained relatively stable

-Rents have continued to rise moderately across most parts of Kentucky

-Many families are choosing to buy rather than rent due to increasing values in their homes