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Disclaimer: Covid-19 may have impacted rent prices in a way that is not yet reflected in our reports. When referencing the data published on this page, please keep in mind that the data provided here may not accurately depict the current reality of the market.

Albany, NY Rental Market Trends

What is the average rent in Albany?

The average rent for an apartment in Albany is $1,441. The cost of rent varies depending on several factors, including location, size, and quality.

Average Rent in Albany, NY

Last updated February 2022
Average Rent Average Apartment Size
$1,441 868 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

23,902 or 57% of the households in Albany, NY are renter-occupied while 17,712 or 42% are owner-occupied.

Albany, NY Rent Trends

Average Rent Nov / 2018 Mar / 2019 Jul / 2019 Nov / 2019 Mar / 2020 Jul / 2020 Nov / 2020 Mar / 2021 Jul / 2021 Nov / 2021 Feb / 2022
Albany, NY $1,285 $1,279 $1,301 $1,300 $1,332 $1,321 $1,326 $1,331 $1,368 $1,392 $1,441
National $1,362 $1,367 $1,399 $1,407 $1,409 $1,399 $1,403 $1,412 $1,495 $1,591 $1,628
Access comprehensive real estate data and information on Yardi Matrix

Average Rent in Albany, NY By Neighborhood

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What are the most affordable neighborhoods in Albany?

The most affordable neighborhoods in Albany are Historic Pastures, where the average rent goes for $984/month, Kenwood, where renters pay $984/mo on average, and Lincoln Park, where the average rent goes for $984/mo. If you’re looking for other great deals, check out the listings from Mansion ($984), Mount Hope ($984), and Second Avenue ($984), where the asking prices are below the average Albany rent of $1,441/mo.

What are the most expensive neighborhoods in Albany?

The most expensive neighborhoods in Albany are Normanskill ($1,767), Park South ($1,767) and Whitehall ($1,767).

What are the most popular neighborhoods in Albany?

The most popular neighborhood in Albany is Sheridan Hollow, where there are 7 verified RentCafe listings with an average rent of $1,384. Next up is Eagle Hill, where apartments go for $1,403/month, followed by Hudson Park with $1,197 If you’re looking to rent in Albany’s most popular neighborhoods, make sure to also check out Buckingham Pond - Crestwood, where renters pay $1,502 on average, and Downtown Albany, where the average monthly rent is $1,527.

Albany | Rent Comparison by Neighborhood

Neighborhood
vs.

Rent in Arbor Hill is 4% lower than in Beverwyck

$1,384

Arbor Hill rent is 4% lower than Albany average

Average Rent $1,384
$1,434

Beverwyck rent is 1% lower than Albany average

Average Rent $1,434

How Albany Compares to Other Cities

City Average Rent
Manhattan $4,265
Hudson Valley $2,126
Bronx $1,650
Brooklyn $3,124
Rochester $1,187
Queens $2,769
Albany $1,441
Buffalo $1,182
Troy $1,320
Amityville $2,285
White Plains $2,987
Holyoke $1,206
Schenectady $1,199
Kingston $1,352
Colonie Town $1,348
Northampton $1,957
Springfield $1,185
Cohoes $1,826
Westfield $1,713
Amherst $1,839
Guilderland Town $1,363

Most Popular Apartments in Albany

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The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Albany apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.