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Cheap Apartments for Rent in the Downtown Neighborhood of Albany, NY from $500 (21 Rentals)
Search the lowest-cost Apartments available for rent right now in the Downtown area of Albany.
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Rent Specials
from $1,015Studio to 3 Bedroom Apartments Available Now
Willett Apartments
88 Willett StAlbany, NY 12210
328 Madison Ave
AlbanyNY12210
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from $1,0951 to 2 Bedroom Apartments Available Now
66 State Street Partners, L.P.
66 State StAlbany, NY 12207
159 1st St
AlbanyNY12210
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Showing Results 1-21, Page 1 of 1
Downtown, Albany, NY Local Guide
How much does it cost to rent an apartment in Downtown?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Studio Apartments | $1,399 | $900 | $2,180 |
| Downtown 1 Bedroom Apartments | $1,619 | $1,000 | $2,500 |
| Downtown 2 Bedroom Apartments | $1,966 | $1,200 | $3,185 |
| Downtown 3 Bedroom Apartments | $1,760 | $1,215 | $2,600 |
| Downtown 4 Bedroom Apartments | $2,100 | $1,600 | $3,000 |
Browse Apartments in this Neighborhood
There are currently 21 rentals with your search options within a 2 mile radius of the Downtown Neighborhood of Albany, NY.
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Downtown, Albany, NY Local Guide
- Nearby Albany neighborhoods
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Cheapest Available Downtown Apartments for Rent
The cheapest available apartment rental in the Downtown area of Albany, NY is a Studio unit found at 142 Morton Ave priced from $800. 361 State St has the second lowest priced unit, which is a Studio apartment currently listed from $900. Here are the most affordable Downtown apartments for rent in Albany, NY:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 142 Morton Ave | Studio, 1 Bathroom | Studio,1BA | $800 |
| 361 State St | Studio | Studio,1BA | $900 |
| 338 Hudson street | Studio, 1 Bathroom | Studio,1BA | $950 |
| 363 state street | Studio, 1 Bathroom | Studio,1BA | $1,000 |
| 66 State Street Partners, L.P. | 1B1RC | 1BR,1BA | $1,095 |
Best Value Apartments for Rent in Downtown, NY
As of March 12, 2025 the best value apartment in the Downtown area is the $1.31 price per square foot 3BR/2.0BA Model at Hinckel Brewery Development LLC in the in the Whitehall neighborhood starting from $2,100. The second greatest value Downtown apartment is the 285 Lark St Model at 285 Lark St, Unit second floor starting at $1,800 with a $1.50 price per square foot in the Whitehall neighborhood. Here is today’s list of the best values for Downtown apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Hinckel Brewery Development LLC | 3BR/2.0BA | 3BR,2BA | $1.31 |
| 285 Lark St, Unit second floor | 285 Lark St | 2BR,2BA | $1.50 |
| 412 Broadway | 33/34 | 1BR,1.5BA | $1.31 |
| 429 S Pearl St, Unit 2 | 429 S Pearl St | 2BR,1BA | $1.78 |
| 99 Pine Street | 1BR/1.0BA | 1BR,1BA | $1.57 |
| 140 Grand St, Unit Basement Apartment | 140 Grand St | 1BR,1BA | $1.30 |
| 365 Madison Ave | 365 Madison Ave | 2BR,1BA | $1.68 |
| 49 Broadway, Unit floor 2 | 49 Broadway | 1BR,1BA | $1.50 |
| 39 Liebel St, Unit B | 39 Liebel St | 2BR,1BA | $1.75 |
| Willett Apartments | 2 Bedroom 1 Bathroom | 2BR,1BA | $1.78 |
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Pet Friendly LifestyleDowntown, Albany, NY
Ranked #19
Among neighborhoods in Albany, NY for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Frequently Asked Questions about Cheap Downtown Apartments
What is the Cheapest Studio apartment in Downtown?
Currently the most affordable Cheap Studio Apartment in Downtown is at 142 Morton Ave listed at $800.
How much is rent for a Cheap One Bedroom Downtown Apartment?
The lowest price for a Cheap One Bedroom Downtown Apartment is $1,050 at 361 State St.
What is the lowest price for a Cheap Two Bedroom Downtown Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Downtown is starting from $1,200 at 361 State St.
What is the most affordable Downtown Three Bedroom Apartment?
The best deal on a cheap Downtown 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.
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.
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.