5 Summit Ave
AlbanyNY12209
Cheap Apartments for Rent in the Downtown Albany Neighborhood of Albany, NY from $500 (34 Rentals)
Search the lowest-cost Apartments available for rent right now in the Downtown Albany area of Albany.
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45 Park Ave
AlbanyNY12202
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from $9502 Bedroom Apartment Available Apr 1
246 Delaware Ave, Unit 1 East
246 Delaware AveAlbany, NY 12209
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from $968Studio to 1 Bedroom Apartments Available Now
Campus View Apartments
10 Brevator StAlbany, NY 12203
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320 1st St
AlbanyNY12206
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Albany's Best Affordable Neighborhoods
Learn about Albany, NY and the best places to live with original content written by our New York area Local Expert Patrick Ryan
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Rent Specials
from $1,015Studio to 3 Bedroom Apartments Available Now
Willett Apartments
88 Willett StAlbany, NY 12210
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from $1,095Studio Apartments Available Now
Luna Studios
1383 Washington AveAlbany, NY 12206
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from $1,1002 to 6 Bedroom Apartments Available Now
Downtown Student Housing
491 Hamilton StAlbany, NY 12203
159 1st St
AlbanyNY12210
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Showing Results 1-34, Page 1 of 1
Downtown Albany, Albany, NY Local Guide
How much does it cost to rent an apartment in Downtown Albany?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Albany Studio Apartments | $1,352 | $875 | $2,145 |
| Downtown Albany 1 Bedroom Apartments | $1,636 | $968 | $2,500 |
| Downtown Albany 2 Bedroom Apartments | $1,916 | $950 | $4,250 |
| Downtown Albany 3 Bedroom Apartments | $1,684 | $650 | $2,600 |
| Downtown Albany 4 Bedroom Apartments | $2,133 | $1,600 | $2,750 |
| Downtown Albany 5 Bedroom Apartments | $2,295 | $1,350 | $2,975 |
Browse Apartments in this Neighborhood
There are currently 34 rentals with your search options within a 2 mile radius of the Downtown Albany Neighborhood of Albany, NY.
See all Apartments in AlbanyExplore Albany
Downtown Albany, Albany, NY Local Guide
- Nearby Albany neighborhoods
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Cheapest Available Downtown Albany Apartments for Rent
The cheapest available apartment rental in the Downtown Albany area of Albany, NY is a Studio unit found at 142 Morton Ave priced from $800. Capitol Green has the second lowest priced unit, which is a Studio apartment currently listed from $875. Here are the most affordable Downtown Albany apartments for rent in Albany, NY:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 142 Morton Ave | Studio, 1 Bathroom | Studio,1BA | $800 |
| Capitol Green | Studio | Studio,1BA | $875 |
| 361 State St | Studio | Studio,1BA | $900 |
| 338 Hudson street | Studio, 1 Bathroom | Studio,1BA | $950 |
| Campus View Apartments | Studio | 1BR,1BA | $968 |
| 11 S Lake | Studio Apartment | Studio,1BA | $1,000 |
| 363 state street | Studio, 1 Bathroom | Studio,1BA | $1,000 |
| Downtown Student Housing | 2 Bedroom | 2BR,2BA | $1,100 |
| The Amsdell | Style A | Studio,1BA | $1,130 |
Best Value Apartments for Rent in Downtown Albany, NY
As of March 23, 2025 the best value apartment in the Downtown Albany area is the $1.07 price per square foot The James Model at 44 James in the in the Melrose neighborhood starting from $2,400. The second greatest value Downtown 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 Downtown Albany apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 44 James | The James | 2BR,1BA | $1.07 |
| 459 Jay St, Unit 1 | 459 Jay St | 2BR,1BA | $0.96 |
| 361 Manning Blvd, Unit 2 | 361 Manning Blvd | 3BR,1BA | $1.21 |
| Crestwood Townhomes | The Monroe | 2BR,1BA | $1.28 |
| Downtown Student Housing | 3 Bedroom | 3BR,2BA | $1.33 |
| 18 Sparkill Ave, Unit 1st Floor Apartment | 18 Sparkill Ave | 2BR,2BA | $1.26 |
| 412 Broadway | 33/34 | 1BR,1.5BA | $1.31 |
| 431 Clinton Ave, Unit unit3 | 431 Clinton Ave | 3BR,1BA | $1.30 |
| 140 Grand St, Unit Basement Apartment | 140 Grand St | 1BR,1BA | $1.30 |
| 431 Clinton Ave, Unit #3 | 431 Clinton Ave | 3BR,1BA | $1.15 |
Quick Rent Budget Calculator
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Pet Friendly LifestyleDowntown Albany, Albany, NY
Ranked #32
Among neighborhoods in Albany, NY for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Best Local Schools in Downtown Albany, Albany, NY
William S Hackett Middle School
Albany City School District
Public School - Grades 6-8 (672)
3 out of 10
School data provided by Great Schools
Best Local Schools in Downtown Albany, Albany, NY
William S Hackett Middle School
Albany City School District
Public School - Grades 6-8 (672)
3 out of 10
School data provided by Great Schools
Lifestyle Ratings
Our team of engineers and researchers works hard to bring you Lifestyle Ratings of neighborhoods, metropolitan areas, and rental properties across New York, including Albany. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including filtering automatically for the best outdoor access, luxury housing options, pet-friendly features, places to raise kids, proximity to transit, and how walkable or bikeable each community and area is. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!
Frequently Asked Questions about Cheap Downtown Albany Apartments
What is a cheap apartment in Downtown Albany?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Albany is under $1,130.
What is the price of a cheap apartment in Downtown Albany?
The cheapest apartment in Downtown Albany is Campus View Apartments which is listed at $968, while the average apartment in Downtown Albany costs $3,000.
What types of apartments are the cheapest in Downtown Albany?
Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 188 regular apartments in Downtown Albany that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
How do the prices of cheap apartments compare to the average apartment in Downtown Albany?
Cheap apartments in Downtown Albany have an average cost of $225 which is $2,775 cheaper than the average rent for all rentals in Downtown Albany.
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.
A Local Expert’s Guide To the Top Budget-Friendly Neighborhoods to Rent in Albany, NY
Written by: Patrick Ryan
Albany, the capital of New York state, is a renter’s haven. With ample housing supply, little traffic and a stable economy, Albany is trending upward. I'm Patrick, your ApartmentHomeLiving.
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.
What to Know About Fees and Fines When Renting
Written by: Trey Huguley
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.
Battling the Butts: Your Guide to the Reality of Smoke-Free Renting
Written by: Andrea Lee Negroni, JD
While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.