Albany, NY a $10,000 grant to live along the Hudson

By Housing Nonprofit

This historic city on the Hudson River gives low-income buyers up to $10,000 to purchase a home.

Homes on Clinton Avenue in Albany New York.

With more than 400 years of history, Albany, New York abounds in tradition and heritage. First established as a small Dutch colony in the 1600s, this crossroads of the Northeast came under English rule in 1686. Today, it is the capital of New York state and the oldest continuously chartered city in the United States.

Located on the west bank of the Hudson River, Albany is 135 miles north of New York City and within driving distance of Boston and Montreal. The historic trading center is one of the three cities and ten towns within Albany County, and has a population of 99,498, while the county’s population is 303,348.

As of September 2022, the median property value in Albany, NY is $186,800.

The city supports urban revitalization and livability, and is guided by what it calls “a balanced approach to economic opportunity, social equity, and environmental quality.” It has long been a democratic stronghold, and is currently represented by U.S. Senator Chuck Schumer and U.S. Senator Kirsten Gillibrand.

From mansions to brownstones, museums and the capitol building, Albany is a treasure trove of fascinating architecture. You’ll also find a vibrant food scene, craft beverages, world-class museums and inspired arts and theater offerings. There are 15 parks within the county, and numerous outdoor activities every season of the year.

Live music event at Empire State Plaza, Albany

You’ll also find numerous opportunities for arts and culture. The Egg, a concrete sphere named for its appearance, is a top theater and music venue. The Nelson A. Rockefeller Empire State Plaza, a 98-acre complex that houses government buildings and convention centers, features art collections, historic memorials, and an observation deck. The plaza is also a year-round site for concerts, craft shows, and food festivals. The Palace Theater is a historic landmark, and a 2,800-seat cultural and entertainment venue. Albany is also home to the New York State Museum, the oldest and largest state museum in the country

The Albany School District serves 9,000 students in 16 schools. It also has a vibrant college scene. Higher education institutions include Albany Medical College, Albany Law School. Albany College of Pharmacy and Health Services, Sage College of Albany, Excelsior College, the College of St. Rose, and SUNY-Albany.

The median household income is $48,512, and the median property value is $186,800. The city’s Home Acquisition Program (HIP) assists home buyers with down payment and/or closing costs. The program offers five percent of the home’s purchase price, up to $10,000. Learn more about the Home Acquisition Program here.