Cheap Apartments for Rent in the Downtown Albany Neighborhood of Albany, NY from $500 (87 Rentals)

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

property at 91 Columbia St

$1,000

1 Bedroom, 1 Bath Home for Rent

Available Now

91 Columbia St

AlbanyNY12210

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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property at 578 Madison Ave

$1,100

1 Bedroom, 1 Bath Home for Rent

Available Now

578 Madison Ave

AlbanyNY12208

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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property at 1 Manning Blvd

$1,195 - $2,600

Studio To 4 Bedroom Rentals

Available Now

1 Manning Blvd

AlbanyNY12203
property at 51 Elm St

$1,200

1 Bedroom Rentals

Available Now

51 Elm St

AlbanyNY12202

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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property at 634 Western Ave

$1,250

1 Bedroom, 1 Bath Home for Rent

Available Now

634 Western Ave

AlbanyNY12203

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Downtown Albany, Albany, NY Local Guide

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 Capitol Green priced from $875. Swinburne Common has the second lowest priced unit, which is a 1 Bed apartment currently listed from $937. Here are the most affordable Downtown Albany apartments for rent in Albany, NY:

Apartment ListingModel NameBed/BathPriced From
Capitol GreenStudioStudio,1BA$875
Swinburne Common1 Bedroom1BR,1BA$937
Campus View ApartmentsStudioStudio,1BA$968
256 state street1 Bedroom, 1 Bathroom1BR,1BA$1,050
71 chestnut street1 Bedroom, 1 Bathroom1BR,1BA$1,050
Downtown Student Housing2 Bedroom2BR,2BA$1,100

Best Value Apartments for Rent in Downtown Albany, NY

As of January 30, 2026 the best value apartment in the Downtown Albany area is the $1.20 price per square foot 238 Quail St Model at 238 Quail St, Unit 1 in the in the Whitehall neighborhood starting from $3,000. The second greatest value Downtown Albany apartment is the 268 Western Ave Model at 268 Western Ave, Unit 1 starting at $2,400 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 ListingModel NameBed/BathPrice Per Sq.Ft.
238 Quail St, Unit 1238 Quail St5BR,2.5BA$1.20
268 Western Ave, Unit 1268 Western Ave4BR,1BA$0.96
44 Clinton Ave, Unit 2 Brownstone44 Clinton Ave3BR,2BA$1.25
459 Jay St, Unit 1459 Jay St2BR,1BA$0.96
310 Western Ave, Unit 2310 Western Ave4BR,1BA$0.59
412 Broadway33/341BR,1.5BA$1.31
The MCManusOne Bedroom1BR,1BA$1.28
Swinburne Common1 Bedroom1BR,1BA$1.04
716 State St, Unit 716 State Street716 State St4BR,2BA$0.65
211 Ontario St, Unit Studio211 Ontario StStudio ,1BA$1.00

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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Pet Friendly Lifestyle
Downtown Albany, Albany, NY

Ranked #1

Among cities in New York for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Downtown Albany, Albany, NY

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 $1,100.

What is the price of a cheap apartment in Downtown Albany?

The cheapest apartment in Downtown Albany is Swinburne Common which is listed at $937, while the average apartment in Downtown Albany costs $3,200.

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 22 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 $525 which is $2,675 cheaper than the average rent for all rentals in Downtown 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

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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.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.