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Rental market trends in Albany, NY

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Average Rent in Albany, NY

Avg. RentAnnual Change
Studio - $1,210+4%
1 Bed - $1,352+7%
2 Beds - $1,645+14%
Last updated 3/26/2023

Average Apartment Cost in Albany, NY

The average rent for apartments in Albany, NY, is between $1,210 and $1,645 in 2023. For a studio apartment in Albany, NY, the average rent is $1,210. When it comes to 1-bedroom apartments, the average rent in Albany, NY, is $1,352. For a 2-bedroom apartment, the average rent is $1,645.

Apartment Rent Ranges in Albany, NY

Apartment Prices

Neighborhood Apartment Rent Trends in Albany, NY

NeighborhoodStudio Avg RentAnnual Change
Park South$1,692+11%
Ten Broeck Triangle$1,4750%
Downtown Malta$1,388--
Downtown Albany$1,325-2%
Buckingham Lake - Crestwood$1,260+16%
Central Avenue$1,2000%
Warehouse District$1,175--
Sheridan Hollow$1,095--
Hudson Park$1,015+6%

How Other Cities Compare to Albany, NY

CityStudio Avg RentAnnual Change
Clifton Park$1,069+5%

Albany, NY Rent Trends

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 $837, Arbor Hill, where renters pay $924 on average for a 1-bedroom apartment, and Center Square, where the average 1-bedroom apartment rent goes for $1,050. If you're looking for other great deals, check out the listings in Hudson Park ($1,075 for a 1-bedroom apartment) or West Hill ($1,085 for a 1-bedroom apartment), compared to the $1,352 average for an Albany 1-bedroom apartment.