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Rental market trends in Albany, NY

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Average Rent in Albany, NY

Average Rent in Albany, NY

Avg. RentAnnual Change
Studio - $1,342+8%
1 Bed - $1,515+9%
2 Beds - $1,682+4%
Last updated 6/17/2024

Average Apartment Cost in Albany, NY

The average rent for apartments in Albany, NY, is between $1,342 and $1,682 in 2024. For a studio apartment in Albany, NY, the average rent is $1,342. When it comes to 1-bedroom apartments, the average rent in Albany, NY, is $1,515. For a 2-bedroom apartment, the average rent is $1,682.

Apartment Rent Ranges in Albany, NY

Apartment PricesProportion
1%
8%
41%
35%
15%

Neighborhood Apartment Rent Trends in Albany, NY

NeighborhoodStudio Avg RentAnnual Change
Park South$1,842+7%
Ten Broeck Triangle$1,4750%
Downtown Albany$1,462+9%
Buckingham Lake - Crestwood$1,340+3%
Downtown Malta$1,313--
Central Avenue$1,3000%
Warehouse District$1,225+4%
Sheridan Hollow$1,187+19%
Hudson Park$1,0150%
Center Square$810--
Neighborhood1 Bed Avg RentAnnual Change
Park South$1,945+1%
Downtown Malta$1,876-7%
Washington Park$1,707+5%
Pine Hills$1,7050%
Downtown Albany$1,697+24%
Ten Broeck Triangle$1,625-3%
Buckingham Lake - Crestwood$1,500+4%
Sheridan Hollow$1,475+6%
Warehouse District$1,3650%
Central Avenue$1,350-10%
Hudson Park$1,300+19%
North Albany - Shaker Park$1,234+1%
Delaware Avenue$1,200--
South End$1,200--
West Hill$1,175+6%
Center Square$1,125--
Arbor Hill$978+6%
Beverwyck$934-6%
Neighborhood2 Beds Avg RentAnnual Change
Ten Broeck Triangle$2,6620%
Park South$2,500+6%
Downtown Malta$2,450+23%
Pine Hills$2,3800%
Downtown Albany$2,350+32%
Sheridan Hollow$1,930-19%
Central Avenue$1,925+4%
Washington Park$1,8800%
Warehouse District$1,765+7%
Buckingham Lake - Crestwood$1,640+5%
Delaware Avenue$1,500--
Hudson Park$1,480+3%
North Albany - Shaker Park$1,379+8%
South End$1,350--
Mansion Area$1,300-7%
Center Square$1,275--
West Hill$1,267+5%
Arbor Hill$1,192+6%
Beverwyck$1,033-17%

How Other Cities Compare to Albany, NY

CityStudio Avg RentAnnual Change
Troy$1,692+51%
Clifton Park$1,514+27%
Rensselaer$1,4500%
Cohoes$1,449--
Menands$1,411+10%
Malta$1,313--
Bennington$1,250--
Watervliet$1,235+13%
Schenectady$1,112-1%
Saratoga Springs$1,000-46%
City1 Bed Avg RentAnnual Change
Bennington$2,150--
Delmar$1,927+3%
Saratoga Springs$1,884-24%
Malta$1,876-7%
Cohoes$1,870+24%
Hudson$1,8500%
Niskayuna$1,800+10%
Ballston Spa$1,735-1%
Rensselaer$1,727+19%
Troy$1,602+20%
Clifton Park$1,571+15%
Schenectady$1,522+4%
Menands$1,507+30%
Latham$1,500+7%
Guilderland$1,467-3%
Watervliet$1,440+4%
Pittsfield$1,350+8%
East Greenbush$1,295--
City2 Beds Avg RentAnnual Change
Niskayuna$2,747-2%
Malta$2,450+23%
Hudson$2,300+2%
Cohoes$2,229+1%
Ballston Spa$2,154-1%
Saratoga Springs$2,143-28%
Delmar$1,975+4%
Rensselaer$1,937+3%
Schenectady$1,917+5%
Latham$1,810+12%
Glens Falls$1,800--
Clifton Park$1,782+5%
Menands$1,780--
Guilderland$1,712+1%
Watervliet$1,554+2%
Troy$1,534+8%
Pittsfield$1,500+3%
East Greenbush$1,450--

Albany, NY Rent Trends

Studio1 Bed2 Beds
Jun 2023Jul 2023Aug 2023Sep 2023Oct 2023Nov 2023Dec 2023Jan 2024Feb 2024Mar 2024Apr 2024May 2024Jun 2024
$1265$1290$1292$1297$1300$1302$1302$1307$1317$1330$1340$1342$1342
$1382$1407$1417$1437$1435$1417$1450$1467$1472$1467$1491$1515$1515
$1610$1667$1722$1720$1697$1682$1672$1740$1790$1752$1735$1722$1722
$1662$1662$1662$1662$1662$1662$1642$1642$1642$1642$1642$1655$1655

Neighborhood Information for Albany, NY

What are the most affordable neighborhoods in Albany, NY?

The most affordable neighborhoods in Albany are Beverwyck, where the average 1-bedroom apartment rent goes for $934, Arbor Hill, where renters pay $978 on average for a 1-bedroom apartment, and Center Square, where the average 1-bedroom apartment rent goes for $1,125. If you're looking for other great deals, check out the listings in West Hill ($1,175 for a 1-bedroom apartment) or Delaware Avenue ($1,200 for a 1-bedroom apartment), compared to the $1,515 average for an Albany 1-bedroom apartment.

What are the most expensive neighborhoods in Albany, NY?

The most affordable neighborhoods in Albany are Park South, where the average 1-bedroom apartment rent goes for $1,945, Downtown Malta, where renters pay $1,876 on average for a 1-bedroom apartment, and Washington Park, where the average 1-bedroom apartment rent goes for $1,707. If you're looking for other great deals, check out the listings in Pine Hills ($1,705 for a 1-bedroom apartment) or Downtown Albany ($1,697 for a 1-bedroom apartment), compared to the $1,515 average for an Albany 1-bedroom apartment.

What are the most popular neighborhoods in Albany, NY?

The most popular neighborhoods in Albany are North Albany - Shaker Park, where the average 1-bedroom apartment rent goes for $1,234, West Hill, where renters pay $1,175 on average for a 1-bedroom apartment, and Warehouse District, where the average 1-bedroom apartment rent goes for $1,365. If you're looking for other popular neighborhoods, check out the listings in Arbor Hill ($978 for a 1-bedroom apartment) or Beverwyck ($934 for a 1-bedroom apartment), compared to the $1,515 average for an Albany 1-bedroom apartment.

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