The Capital Region of New York has a lot to offer. It not only sits on the west bank of the Hudson River but also has a booming urban center. Recognized as one of the oldest districts in the U.S., the Capital Region has a long and rich history.

This article will explain all the reasons why it’s worth investing in real estate in the capital region.

1. Cost of living

While the cost of living in the Capital Region may be higher than the national average, it is far cheaper than living in New York City. In fact, research shows that the Capital District is considered to be at least 30% less expensive than living in New York City without factoring in rent prices. In addition, the average annual salary for residents is just shy of $70,000, with top earners earning up to $147,000 annually.

2. Real estate market

As a district in New York, the Capital Region has a surprisingly modest and affordable housing market. While homes are priced higher in wealthier areas, there are parts of the region that are safe where you can find cheaper real estate. Research from 2021 shows that homes in this area generally sell after only spending 12 days on the market. Mostly comprised of single-family homes, the architectural styles popular in this area include colonial, craftsman, and bungalow.

3. Healthy economy

While the region's unemployment rate may be slightly higher than the national average, the Capital Region predicts a job growth increase of nearly 25% in the upcoming years. Almost a third of the population works for the state government, but large companies and tech startups are also moving to the area and driving growth. Right now, the top industries in the Capital Region include government, healthcare, education, manufacturing, construction, technology, and financial services. Besides the state government, the University of Albany, IBM, GE, and St. Peter’s Health Partners are the largest employers in the area. All this growth shows that if someone is moving to the area searching for work, they won’t be looking for long.

4. Higher education

If you are looking to invest in real estate in the Capital Region, another reason to do so would be because of its higher education institutions. The area is home to various educational institutions that offer two-year and four-year degree programs as well as specialized programs. This means that there are many residents who are continuously moving to the Capital Region to pursue higher education.

Higher education institutions include:

• University at Albany: This four-year public university offers over 100 undergraduate majors and nearly 140 graduate programs.
• Albany College of Pharmacy and Health Services: This four-year private non-profit college is dedicated to pharmaceutical studies.
• The College of Saint Rose: This four-year private non-profit college is ranked as one of the top teaching schools.
• Maria College: This institution is a two-year private Catholic college.
• Bryant & Stratton College: This is a two-year for-profit college.

Are you looking for real estate in the Capital Region?

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