Cheap Apartments for Rent in Albany, NY from $500 (130 Rentals)

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

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Campus View Apartments
$1,048 - $1,288
Total Monthly Price

Total Monthly Price

Base Rent
$1,048 - $1,288
Total Monthly Price
$1,048 - $1,288
Studio to 1 Bedroom Apartments Available Now

Campus View Apartments

10 Brevator StAlbany, NY 12203
Pet Friendly
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  • Utilities Included

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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property at 4 King Ave

$1,200 - $1,400

1 To 2 Bedroom Rentals

Available Now

4 King Ave

AlbanyNY12206

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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560 Park Ave, Unit 560-1
$1,250
Total Monthly Price

Total Monthly Price

Base Rent
$1,250
Total Monthly Price
$1,250
1 Bedroom Apartment Available Now

560 Park Ave, Unit 560-1

560 Park AveAlbany, NY 12208
Cost Per Sq.Ft.

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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51 Russell Rd
$1,300 - $1,400
Total Monthly Price

Total Monthly Price

Base Rent
$1,300 - $1,400
Total Monthly Price
$1,300 - $1,400
1 to 2 Bedroom Apartment Available Oct 1

51 Russell Rd

51 Russell RdAlbany, NY 12203
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63 2nd Ave
1 Bedroom Apartments

63 2nd Ave

63 2nd AveAlbany, NY 12202
Student Housing

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Capitol Green
Studio to 2 Bedroom Apartments

Capitol Green

400 Central AveAlbany, NY 12206
  • Utilities Included
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449 State St
Studio to 2 Bedroom Apartments

449 State St

449 State StAlbany, NY 12203
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336 Hudson street
Studio to 2 Bedroom Apartments

336 Hudson street

336 Hudson AveAlbany, NY 12210
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363 state street
Studio to 1 Bedroom Apartments

363 state street

363 State StAlbany, NY 12210
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142 Morton Ave
Studio to 1 Bedroom Apartments

142 Morton Ave

142 Morton AveAlbany, NY 12202
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256 state street
Studio to 3 Bedroom Apartments

256 state street

256 State StAlbany, NY 12210

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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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: 08/16/2026

Current apartment rentals in the Albany, NY area range in price from $575 to $11,249 with an overall median price of $1,746. The three Albany neighborhoods with the lowest median rent pricing are Central State at $1,062, South End at $1,400, and Outer Schenectady at $1,455. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Albany Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Central State$1,062$8101
South End$1,400$1,0508
Outer Schenectady$1,455$81040
Seward Place$1,475$82517
Mt Pleasant$1,500$81044
Sheridan Hollow$1,545$1,10035
Downtown Schenectady$1,559$82557
Beverwyck$1,571$57518
Arbor Hill$1,580$1,18533
Campus Area$1,585$98525

Cheapest Available Albany Apartments for Rent

 

The cheapest available apartment rental in Albany, NY is a Studio unit found at 449 State St in the Whitehall neighborhood priced from $895. 336 Hudson street in the Whitehall neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $900. Here is today’s list of the most affordable Albany apartments for rent:

Apartment ListingModel NameBed/BathPriced From
449 State St0 Beds, 1 BathsStudio,1BA$895
336 Hudson streetStudio, 1 BathroomStudio,1BA$900
142 Morton Ave1 Bedroom, 1 Bathroom1BR,1BA$1,000
363 state streetStudio, 1 BathroomStudio,1BA$1,000
Campus View ApartmentsStudioStudio,1BA$1,048

Best Value Apartments for Rent in Albany, NY

As of August 16, 2026 the best value apartment in the Albany area is the $0.72 price per square foot 74 N Allen St Model at 74 N Allen St, Unit 2 in the in the Whitehall neighborhood starting from $1,800. The second greatest value Albany apartment is the 475 Hamilton St Model at 475 Hamilton St, Unit 2 starting at $2,200 with a $1.10 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.
74 N Allen St, Unit 274 N Allen St2BR,1BA$0.72
475 Hamilton St, Unit 2475 Hamilton St4BR,1BA$1.10
1057 Washington Ave, Unit First Floor1057 Washington Ave3BR,1BA$1.14
110 4th St, Unit 1110 4th St1BR,1BA$1.07
126 4th St, Unit 1126 4th St1BR,1BA$0.68
Block 75Ballston C4BR,4BA$0.81
211 Ontario St, Unit 1211 Ontario St4BR,1BA$0.48
74 13th St, Unit 174 13th St1BR,1BA$0.42
246 Delaware Ave, Unit 1 East246 Delaware Ave2BR,1BA$0.99
343 Congress St, Unit B343 Congress St1BR,1BA$1.15

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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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.

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

Explore Albany, NY Rentals by Map

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Albany, NY Area Reviews

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Frequently Asked Questions about Cheap Albany Apartments

What is a cheap apartment in Albany?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Albany is under $1,048.

What is the price of a cheap apartment in Albany?

The cheapest apartment in Albany is 142 Morton Ave which is listed at $1,000, while the average apartment in Albany costs $1,746.

What types of apartments are the cheapest in 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 209 regular apartments in 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 Albany?

Cheap apartments in Albany have an average cost of $836 which is $910 cheaper than the average rent for all rentals in Albany.

Expert Rental Resources

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.

Articles, How-To's, and Tips

decorative image for The Best Neighborhoods for Renters While Attending College in Albany article

The Best Neighborhoods for Renters While Attending College in Albany

Written by: Patrick Ryan

Albany, the Capital city of New York state, is revered for its unique architecture and storied history.

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.