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Albany, NY Rental Market Trends

What is the average rent in Albany?

The average rent for an apartment in Albany is $1,603. The cost of rent varies depending on several factors, including location, size, and quality.

Average rent in Albany, NY

Last updated July 2023
Average Rent Average Apartment Size
$1,603 868 sq. ft.

What is the average apartment size in Albany?

The average size for a Albany, NY apartment is 868 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.

Albany, NY apartment rent ranges

Albany, NY Occupied Housing Units

26,302 or 62% of the households in Albany, NY are renter-occupied while 16,200 or 38% are owner-occupied.

Albany, NY rent trends

Access comprehensive real estate data and information on Yardi Matrix

Average Rent in Albany, NY By Neighborhood

New Scotland
$2,115
Normanskill
$2,115
Park South
$2,115
Whitehall
$2,115
Buckingham Pond - Crestwood
$1,751
Helderberg
$1,751
Pine Hills
$1,751
Beverwyck
$1,718
South End Albany
$1,709
Upper Washington
$1,709
West Hill Spirit
$1,679
Washington Square
$1,678
Downtown Albany
$1,658
Dunes
$1,651
Eagle Hill
$1,638
Manning Boulevard
$1,638
Melrose
$1,638
Washington Park
$1,612
Arbor Hill
$1,560
Sheridan Hollow
$1,560
Ten Broeck Triangle
$1,560
Center Square
$1,479
Hudson Park
$1,407
Shaker Park
$1,324
Shaker - Bishop's Gate
$1,280
Historic Pastures
$1,264
Kenwood
$1,264
Lincoln Park
$1,264
Mansion
$1,264
Mount Hope
$1,264
Second Avenue
$1,264
West End Albany
$1,264
/
Neighborhood Average Rent
New Scotland $2,115
Normanskill $2,115
Park South $2,115
Whitehall $2,115
Buckingham Pond - Crestwood $1,751
Helderberg $1,751
Pine Hills $1,751
Beverwyck $1,718
South End Albany $1,709
Upper Washington $1,709
West Hill Spirit $1,679
Washington Square $1,678
Downtown Albany $1,658
Dunes $1,651
Eagle Hill $1,638
Manning Boulevard $1,638
Melrose $1,638
Washington Park $1,612
Arbor Hill $1,560
Sheridan Hollow $1,560
Ten Broeck Triangle $1,560
Center Square $1,479
Hudson Park $1,407
Shaker Park $1,324
Shaker - Bishop's Gate $1,280
Historic Pastures $1,264
Kenwood $1,264
Lincoln Park $1,264
Mansion $1,264
Mount Hope $1,264
Second Avenue $1,264
West End Albany $1,264
/
/

What are the most affordable neighborhoods in Albany?

The most affordable neighborhoods in Albany are Historic Pastures, where the average rent goes for $1,264/month, Kenwood, where renters pay $1,264/mo on average, and Lincoln Park, where the average rent goes for $1,264/mo. If you’re looking for other great deals, check out the listings from Mansion ($1,264), Mount Hope ($1,264), and Second Avenue ($1,264), where the asking prices are below the average Albany rent of $1,603/mo.

What are the most expensive neighborhoods in Albany?

The most expensive neighborhoods in Albany are Normanskill ($2,115), Park South ($2,115) and Whitehall ($2,115).

What are the most popular neighborhoods in Albany?

The most popular neighborhood in Albany is Sheridan Hollow, where there are 9 listings with an average rent of $1,560. Next up is Center Square, where apartments go for $1,479/month, followed by Hudson Park with $1,407 If you’re looking to rent in Albany’s most popular neighborhoods, make sure to also check out Washington Park, where renters pay $1,612 on average, and Downtown Albany, where the average monthly rent is $1,658.

Albany | Rent Comparison by Neighborhood

Neighborhood
vs.

Rent in Arbor Hill is 9% lower than in Beverwyck

$1,560

Arbor Hill rent is 3% lower than Albany average

Average Rent $1,560
$1,718

Beverwyck rent is 7% higher than Albany average

Average Rent $1,718

How Albany Compares to Other Cities

City Average Rent
Manhattan $4,742
Hudson Valley $2,215
Brooklyn $3,350
Bronx $1,787
Buffalo $1,289
Albany $1,603
Queens $2,902
Ithaca $2,034
Syracuse $1,472
Amityville $2,453
Troy $1,470
Troy $1,470
Schenectady $1,319
Clifton Park $1,386
Cohoes $1,870
Halfmoon $1,421
Brunswick $1,470
Malta $1,611
Watervliet $1,655

Most Popular Apartments in Albany

Outdoor Pool at Alexander at Patroon Creek, Albany, 12206
Today

Alexander At Patroon Creek

255 Patroon Creek Blvd., Albany, NY 12206
Available
1 BED $1,800+
2 BEDS $2,011+
3 BEDS $2,553+
the front of a brick house with a staircase
1 day ago

142 Morton Ave

142 Morton Avenue, Albany, NY 12202
Studio $930
1 BED $990
The Kenmore
Today

The Kenmore

76 North Pearl, Albany, NY 12207
1 BED $1,410
2 BEDS $1,725
66 State - Model Apartment
1 day ago

66 State Street Partners, L.P.

66 State Street, Albany, NY 12210
2 BEDS $1,625
View more properties
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