The Hudson Student Living
1415 Washington Ave,
Albany, NY 12206
Studio - 4 Beds | $950 - 2,650
Rental Market Trends in Albany, NY
What is the average rent in Albany, NY?
$1,460/month
Average Rent
703 Sq Ft
Average Apartment Size
+1.3%
Increase in the Last Year
As of November 2024, the average rent in Albany, NY is $1,460 per month. For comparison, the national average rent price in the US is currently $1,559/month, which means Albany rent prices are 6% lower than the national average. When you rent an apartment in Albany, you can expect to pay about $1,268 per month for a studio, $1,460 for a one-bedroom apartment, and around $1,763 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,905 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Albany, NY?
In the past year, rent has increased by 1.3%, which averages out to $20 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated November 2024
Legend
2023
2024
Rent Ranges in Albany, NY
Last Updated November 2024
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
1%
Below $700/month
16%
$700 - $1,000/month
39%
$1,001 - $1,500/month
31%
$1,501 - $2,000/month
13%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Albany?
Based on current rent prices, West Hill, Beverwyck and Pine Hills are the most affordable neighborhoods in Albany.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Albany?
Based on current rent prices, Dunes, Campus Area and Helderberg are the most expensive neighborhoods in Albany.
Neighborhood
Average Rent
Average Sq Ft
Which Albany neighborhoods have the most rentals available?
The neighborhoods in Albany with the most apartments available are Downtown Albany, Arbor Hill and Downtown Albany Historic District .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Albany, NY?
Because the average rent in Albany is $1,460, you’ll want to make about $4,866 per month or $58,392 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Albany, NY compare to other nearby cities and neighborhoods?
Use the tool below to compare Albany, NY to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
-
-
One Bedroom
$1,159/month
-
Two Bedroom
$1,371/month
$1,770/month
Three Bedroom
$1,547/month
-
Nearby City Rent Trends
Apartment communities in Albany we think you'll love
Property Management Companies in Albany, NY
Tri City Rentals
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41
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9,303
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18
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Stratus Property Management
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20
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1,362
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Cole Group Realty
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12
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DHM Properties
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28
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6,881
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19
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Willow Bridge
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691
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188,417
Units
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314
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3 Communities in Albany
Eagle Rock Properties
-
43
Communities
-
9,809
Units
-
37
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3 Communities in Albany
Berkeley Properties
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20
Communities
-
3,250
Units
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16
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3 Communities in Albany
Lexington Property Group
-
14
Communities
-
2,839
Units
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9
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Methodology
† Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
* Percentages may not total 100 due to rounding.