Albany, NY Rental Market Trends
Highlights
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
- $501-$7004%
- $701-$1,00027%
- $1,001-$1,50049%
- $1,501-$2,00014%
- > $2,0007%
Albany, NY Rent Trends
| Average Rent | Jan / 2018 | May / 2018 | Sept / 2018 | Jul / 2019 |
|---|---|---|---|---|
| Albany, NY | $1,211 | $1,216 | $1,251 | $1,250 |
| National | $1,366 | $1,381 | $1,396 | $1,430 |
Average Rent in Albany, NY By Neighborhood
| Average Rent | |||||
|---|---|---|---|---|---|
| Neighborhood | Average Rent | ||||
| West End Albany | $941 | ||||
| Second Avenue | $941 | ||||
| Mount Hope | $941 | ||||
| Mansion | $941 | ||||
| Lincoln Park | $941 | ||||
| Kenwood | $941 | ||||
| Historic Pastures | $941 | ||||
| Hudson Park | $1,056 | ||||
| Shaker - Bishop's Gate | $1,107 | ||||
| Center Square | $1,134 | ||||
| Shaker Park | $1,136 | ||||
| Washington Park | $1,183 | ||||
| Melrose | $1,188 | ||||
| Manning Boulevard | $1,188 | ||||
| Eagle Hill | $1,188 | ||||
| Dunes | $1,240 | ||||
| Washington Square | $1,262 | ||||
| Pine Hills | $1,274 | ||||
| Helderberg | $1,274 | ||||
| Buckingham Pond - Crestwood | $1,274 | ||||
| Ten Broeck Triangle | $1,294 | ||||
| Sheridan Hollow | $1,294 | ||||
| Arbor Hill | $1,294 | ||||
| West Hill Spirit | $1,329 | ||||
| Beverwyck | $1,358 | ||||
| Upper Washington | $1,376 | ||||
| South End Albany | $1,376 | ||||
| Whitehall | $1,506 | ||||
| Park South | $1,506 | ||||
| Normanskill | $1,506 | ||||
| New Scotland | $1,506 | ||||
| Downtown Albany | $1,537 | ||||
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
| Average Rent | $1,294 |
|---|
Beverwyck rent is 9% higher than Albany average
| Average Rent | $1,358 |
|---|
How Does Albany Compare to Nearby Cities
| Average Rent | Y-o-Y Change | |
|---|---|---|
| Albany | $1,250 | 3% |
| Colonie Town | $1,176 | 2% |
| Cohoes | $1,508 | -1% |
| Bethlehem | $1,417 | -1% |
| Guilderland | $1,200 | 2% |
| Guilderland Town | $1,200 | 2% |
| Colonie | $1,425 | 6% |
| Menands | $1,107 | 4% |
| Altamont | $1,289 | -2% |
| Coeymans | $1,104 | 3% |
For more information about the Albany rental trends, check out our monthly rent report