Albany, NY Rental Market Trends
The average rent for an apartment in Albany is $1,250, a 3% increase compared to the previous year, when the average rent was $1,211.
Average Rent in Albany, NY
|Average Rent||Y-o-Y Change||Average Apartment Size|
|$1,250||3%||849 sq. ft.|
The average size for a Albany, NY apartment is 849 square feet, but this number varies greatly depending on apartment type. 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
- > $2,0007%
Albany, NY Rent Trends
|Jan / 2018||May / 2018||Sept / 2018||Jul / 2019|
Average Rent in Albany, NY By Neighborhood
|West End Albany||$941|
|Shaker - Bishop's Gate||$1,107|
|Buckingham Pond - Crestwood||$1,274|
|Ten Broeck Triangle||$1,294|
|West Hill Spirit||$1,329|
|South End Albany||$1,376|
The most affordable neighborhoods in Albany are Historic Pastures, where the average rent goes for $941/month, Kenwood, where renters pay $941/mo on average, and Lincoln Park, where the average rent goes for $941/mo. If you’re looking for other great deals, check out the listings from Mansion ($941), Mount Hope ($941), and Second Avenue ($941), where the asking prices are below the average Albany rent of $1,250/mo.
The most expensive neighborhoods in Albany are Park South ($1,506), Whitehall ($1,506) and Downtown Albany ($1,537).
Albany | Rent Comparison by Neighborhood
Rent in Arbor Hill is 5% lower than in Beverwyck
Arbor Hill rent is 4% higher than Albany average
Beverwyck rent is 9% higher than Albany average
How Does Albany Compare to Nearby Cities
|Average Rent||Y-o-Y Change|
For more information about the Albany rental trends, check out our monthly rent report