Cheap Apartments for Rent in Albany, NY from $500 (135 Rentals)

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Search the lowest-cost Apartments available for rent right now in Albany.

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45 Park Ave
$945Studio, 1 Bath Home for RentAvailable Now

45 Park Ave

Albany, NY 12202
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109 Philip St
$945Studio, 1 Bath Home for RentAvailable Now

109 Philip St

Albany, NY 12202
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541 Clinton Ave
$1,2001 Bedroom, 1 Bath RentalsAvailable Now

541 Clinton Ave

Albany, NY 12206
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106 Braintree St
$1,2751 Bedroom, 1 Bath Home for RentAvailable Mar 1

106 Braintree St

Albany, NY 12205
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1949 Western Ave
$1,2951 Bedroom, 1 Bath RentalsAvailable Now

1949 Western Ave

Albany, NY 12203
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Albany, NY Local Guide

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Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Albany, NY

Pricing Updated: 02/21/2025

Current apartment rentals in the Albany, NY area range in price from $650 to $5,220 with an overall median price of $2,331. The three Albany neighborhoods with the lowest median rent pricing are South End at $945, Hamilton Hill at $1,400, and Center Square at $900. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Albany Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
South End$1,385$94595
Hamilton Hill$1,400$1,4008
Center Square$1,650$9002344
Sheridan Hollow$1,672$9002287
Arbor Hill$1,720$9002142
Downtown$1,725$9004402
Mt Pleasant$1,750$7752071
Central State$1,763$7751258
Winchester Gables$1,800$1,80017
Central Avenue$1,825$9002991

Cheapest Available Albany Apartments for Rent

 

The cheapest available apartment rental in Albany, NY is a Studio unit found at 142 Morton Ave in the Whitehall neighborhood priced from $800. Capitol Green in the Whitehall neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $875. Here is today’s list of the most affordable Albany apartments for rent:

Apartment ListingModel NameBed/BathPriced From
142 Morton AveStudio, 1 BathroomStudio,1BA$800
Capitol GreenStudioStudio,1BA$875
361 State StStudioStudio,1BA$900
338 Hudson streetStudio, 1 BathroomStudio,1BA$950
The Valley GreenShared 2 Bed 1 Bath B1BR,1BA$950
221 Stow Ave., Hudson Terrace2B/1B2BR,1BA$951
Campus View ApartmentsStudio1BR,1BA$968
11 S LakeStudio ApartmentStudio,1BA$1,000

Best Value Apartments for Rent in Albany, NY

As of February 22, 2025 the best value apartment in the Albany area is the $1.00 price per square foot 67 Sand Creek Rd Model at 67 Sand Creek Rd, Unit 1 in the in the Bishops Gate neighborhood starting from $1,899. The second greatest value Albany apartment is the 459 Jay St Model at 459 Jay St, Unit 1 starting at $1,350 with a $0.96 price per square foot in the Whitehall neighborhood. Here is today’s list of the best values for Albany apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
67 Sand Creek Rd, Unit 167 Sand Creek Rd1BR,1.5BA$1.00
459 Jay St, Unit 1459 Jay St2BR,1BA$0.96
58 Pinehurst Ave, Unit 158 Pinehurst Ave3BR,1BA$1.07
126 4th St, Unit 1126 4th St1BR,1BA$0.58
118 4th St, Unit Downtown troy118 4th St1BR,1BA$0.96
110 Williams Street Aly, Unit Rear loft110 Williams Street Aly2BR,1BA$1.00
17 Bertha St, Unit Upstairs17 Bertha St2BR,1BA$1.16
182 River St, Unit 166 River St apt C182 River St2BR,1BA$1.08
221 Stow Ave., Hudson Terrace2B/1B2BR,1BA$0.86
1095 Western Ave, Unit 1W1095 Western Ave2BR,1BA$1.14

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Albany Overview

"Albany is the state capital of New York, and is a city brimming with historical significance. It is the oldest continuous chartered city in the United States and works to preserve its history. Although well-known for revering its history and Dutch culture, Albany also embraces modern advancement. The ""Tech Valley"" industry is on the rise and has helped economy in New York State's Capital District. The Capital District is the metro area surrounding Albany. The cities included are Albany, Schenectady and Troy. The Capital District is the third most populated region in New York. Its metropolitan population is over 1.1 million. The city of Albany's population reaches almost 100,000. Apartments in Albany could be a fit for seekers looking for a blend of historical and modern elements."

Why live in Albany, NY?

Albany is a great city that pays homage to its rich history while embracing a modern way of life. Albany is also an excellent center for higher education. It's one of the best places to get an education, according to a Forbes survey in 2005. Albany has several parks, Washington Park the most well-known, for the outdoorsy type. The Pine Bush and Lincoln Park are a couple other parks found in Albany. Albany is also serious about improving its community. The National Civic League has awarded Albany the All-America award twice for community improvement.

Pet Friendly Lifestyle

Ranked #

Pet Friendliness Lifestyle Score

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Albany, NY Rentals by Map

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See the most popular apartments and homes in Albany, NY

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Getting Around Albany, NY

Walk Score®

69 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

54 / 100

Bikeable

Some bike infrastructure

Transit Score®

42 / 100

Some Transit

A few nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Albany Apartments

What is the Cheapest Studio apartment in Albany?

Currently the most affordable Cheap Studio Apartment in Albany is at 142 Morton Ave listed at $800.

How much is rent for a Cheap One Bedroom Albany Apartment?

The lowest price for a Cheap One Bedroom Albany Apartment is $950 at The Valley Green.

What is the lowest price for a Cheap Two Bedroom Albany Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Albany is starting from $951 at 221 Stow Ave., Hudson Terrace.

What is the most affordable Albany Three Bedroom Apartment?

The best deal on a cheap Albany Three Bedroom Apartment rental is at 361 State St and starts from $1,450.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

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Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

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What to Know About Fees and Fines When Renting

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When it comes to renting a new apartment or home there can be a number of fees that you will want to keep in mind going into the process.

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How Your Move-In Inspection Can Protect Your Security Deposit

Written by: Christine Leonard, Esq.

If you’re anything like most people, housing costs represent a huge chunk of your monthly budget. On top of that, moving can be both a stressful and expensive affair.

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Signing Your Apartment Lease: The Basics

Written by: Trey Huguley

When you're about to sign a lease for the first time, it can feel a bit overwhelming. You don’t want to miss any important details hidden in the fine print.