Cheap Apartments for Rent in the Downtown Albany Neighborhood of Albany, NY from $550 (99 Rentals)

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

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Campus View Apartments
$1,048 - $1,288

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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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 147 Eagle St
$1,100
1 Bedroom Rentals
Available Now
Affordability

147 Eagle St

AlbanyNY12202
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19 Homestead St, Unit 3
$1,200

Total Monthly Price

Base Rent$1,200
Total Monthly Price$1,200
2 Bedroom Apartment Available Now

19 Homestead St, Unit 3

19 Homestead StAlbany, NY 12203
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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

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
Affordability

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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property at 423 Clinton Ave
$1,350
2 Bedroom Rentals
Available Now
Affordability

423 Clinton Ave

AlbanyNY12206

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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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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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 1 Bed unit found at 71 chestnut street priced from $800. 449 State St has the second lowest priced unit, which is a Studio apartment currently listed from $895. Here are the most affordable Downtown Albany apartments for rent in Albany, NY:

Apartment ListingModel NameBed/BathPriced From
71 chestnut street1 Bedroom, 1 Bathroom1BR,1BA$800
449 State St0 Beds, 1 BathsStudio,1BA$895
@HudsonPark0BR/1.0BAStudio,1BA$900
336 Hudson streetStudio, 1 BathroomStudio,1BA$900
256 state street1 Bedroom, 1 Bathroom1BR,1BA$950
363 state streetStudio, 1 BathroomStudio,1BA$975
The Apartments at 66 State0B1RAStudio,1BA$995
142 Morton Ave1 Bedroom, 1 Bathroom1BR,1BA$1,000
Campus View ApartmentsStudioStudio,1BA$1,048

Best Value Apartments for Rent in Downtown Albany, NY

As of September 14, 2026 the best value apartment in the Downtown Albany area is the $0.72 price per square foot 584 Western Ave Model at 584 Western Ave, Unit First Floor in the in the Melrose neighborhood starting from $1,850. The second greatest value Downtown Albany apartment is the 44 Clinton Ave Model at 44 Clinton Ave, Unit 2 Brownstone starting at $2,500 with a $1.25 price per square foot in the Arbor Hill 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.
584 Western Ave, Unit First Floor584 Western Ave2BR,2BA$0.72
44 Clinton Ave, Unit 2 Brownstone44 Clinton Ave3BR,2BA$1.25
155 Western Ave, Unit 3155 Western Ave3BR,2BA$1.00
326 Quail St, Unit 326 Quail 1st Floor326 Quail St3BR,1BA$1.00
361 Manning Blvd, Unit 2361 Manning Blvd3BR,1BA$1.21
589 Washington Ave589 Washington Ave4BR,1BA$1.37
Downtown Student Housing3 Bedroom3BR,2BA$1.33
211 Ontario St, Unit 1211 Ontario St4BR,1BA$0.48
Swinburne Commons Apartments3 Bedroom3BR,2BA$1.33
19 Homestead St, Unit 319 Homestead St2BR,1BA$1.41

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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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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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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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 #2

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 $1,048.

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

The cheapest apartment in Downtown Albany is 71 chestnut street which is listed at $800, while the average apartment in Downtown Albany costs $1,800.

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 11 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 $583 which is $1,217 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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