Albany, NY Rental Market Trends
What is the average rent in Albany?
The average rent for an apartment in Albany is $1,615. The cost of rent varies depending on several factors, including location, size, and quality.
Average rent in Albany, NY
Last updated November 2023
| Average Rent | Average Apartment Size |
|---|---|
| $1,615 | 860 sq. ft. |
What is the average apartment size in Albany?
The average size for a Albany, NY apartment is 860 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
27,474 or 63% of the households in Albany, NY are renter-occupied while 15,961 or 37% are owner-occupied.
Albany, NY rent trends
Average Rent in Albany, NY By Neighborhood
| City | Average Rent |
|---|---|
| Downtown Albany | $1,742 |
| Upper Washington | $1,740 |
| Dunes | $1,612 |
| Arbor Hill | $1,585 |
| Hudson Park | $1,424 |
| Shaker Park | $1,392 |
| West End Albany | $1,294 |
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What are the most affordable neighborhoods in Albany?
The most affordable neighborhoods in Albany are West End Albany, where the average rent goes for $1,294/month, Shaker Park, where renters pay $1,392/mo on average, and Hudson Park, where the average rent goes for $1,424/mo.
What are the most expensive neighborhoods in Albany?
The most expensive neighborhoods in Albany are Dunes ($1,612), Upper Washington ($1,740) and Downtown Albany ($1,742).
What are the most popular neighborhoods in Albany?
The most popular neighborhood in Albany is Downtown Albany, where there are 1 listings with an average rent of $1,742. Next up is Dunes, where apartments go for $1,612/month, followed by Hudson Park with $1,424 If you’re looking to rent in Albany’s most popular neighborhoods, make sure to also check out Arbor Hill, where renters pay $1,585 on average, and Shaker Park, where the average monthly rent is $1,392.
Albany | Rent Comparison by Neighborhood
Rent in Arbor Hill is 9% lower than in Downtown Albany
$1,585
Arbor Hill rent is 2% lower than Albany average
Average Rent
$1,585
$1,742
Downtown Albany rent is 8% higher than Albany average
Average Rent
$1,742
How Albany Compares to Other Cities
| State | Average Rent |
|---|---|
| New York City | $4,416 |
| Manhattan | $4,768 |
| Brooklyn | $3,558 |
| Queens | $2,925 |
| Bronx | $1,811 |
| Hudson Valley | $2,272 |
| Ithaca | $2,018 |
| Melville | $3,867 |
| Farmingdale | $2,886 |
| White Plains | $3,064 |
| Albany | $1,615 |
| Clifton Park | $1,438 |
What is the average price for a storage unit in Albany?
The average rent for a non-climate-controlled 10'x10' storage unit in Albany is $130.5. Rental costs vary depending on several factors, including unit size and the storage facility's location and amenities.
Most Popular Apartments in Albany
141 Washington Ave Extension
141 Washington Ave Extension, Albany, NY 12205| 2 BEDS | $1,000 |
Graca Prop
Street 32, Albany, NY 12084| 1 BED | $1,000 |
| 2 BEDS | $1,500 |