Cheap Apartments for Rent in the Downtown Albany Neighborhood of Albany, NY from $500 (80 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
Rent Specials
$968 - $1,251
Total Monthly Price

Total Monthly Price

Base Rent
$968 - $1,251
Total Monthly Price
$968 - $1,251
Studio to 1 Bedroom Apartments Available Now

Campus View Apartments

10 Brevator StAlbany, NY 12203
Affordability
  • Verified
  • Utilities Included
  • Low Income
property at 91 Columbia St

$1,000

1 Bedroom, 1 Bath Home for Rent

Available Now

91 Columbia St

AlbanyNY12210
property at 51 Elm St

$1,000

1 Bedroom Rentals

Available Now

51 Elm St

AlbanyNY12202

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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78 Dove St
$1,050
Total Monthly Price

Total Monthly Price

Base Rent
$1,050
Total Monthly Price
$1,050
Studio Apartment Available Apr 1

78 Dove St

78 Dove StAlbany, NY 12210
Affordability
  • Smoke Free
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651 Myrtle Ave, Unit 1
$1,195
Total Monthly Price

Total Monthly Price

Base Rent
$1,195
Total Monthly Price
$1,195
2 Bedroom Apartment Available Jun 1

651 Myrtle Ave, Unit 1

651 Myrtle AveAlbany, NY 12208
Affordability
  • Smoke Free

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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property at 152 Western Ave

$1,195 - $2,175

1 To 3 Bedroom Rentals

Available Jun 1

152 Western Ave

AlbanyNY12203

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 634 Western Ave

$1,250

1 Bedroom, 1 Bath Home for Rent

Available Now

634 Western Ave

AlbanyNY12203

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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PM 63 2nd Ave.
1 Bedroom Apartments

PM 63 2nd Ave.

63 2nd AveAlbany, NY 12202
Student Housing
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252 state street
Studio to 2 Bedroom Apartments

252 state street

252 State StAlbany, NY 12210
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Capitol Green
Studio to 2 Bedroom Apartments

Capitol Green

400 Central AveAlbany, NY 12206
  • Utilities Included

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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Showing Results 1-50, Page 1 of 2

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 252 state street priced from $850. Campus View Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $968. Here are the most affordable Downtown Albany apartments for rent in Albany, NY:

Apartment ListingModel NameBed/BathPriced From
252 state streetStudio, 1 BathroomStudio,1BA$850
Campus View ApartmentsStudioStudio,1BA$968
256 state streetStudio, 1 BathroomStudio,1BA$975
71 chestnut street1 Bedroom, 1 Bathroom1BR,1BA$1,050
Downtown Student Housing2 Bedroom2BR,2BA$1,100
The Apartments at 66 State1B1RC1BR,1BA$1,185
69 Trinity PlaceSpacious Studio Minutes from Times Union, Alban...Studio,1BA$1,195

Best Value Apartments for Rent in Downtown Albany, NY

As of March 16, 2026 the best value apartment in the Downtown Albany area is the $1.06 price per square foot 270 Livingston Ave Model at 270 Livingston Ave, Unit #1 in the in the Arbor Hill neighborhood starting from $1,490. The second greatest value Downtown Albany apartment is the 310 Western Ave Model at 310 Western Ave, Unit Unit 2 starting at $750 with a $0.56 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.
270 Livingston Ave, Unit #1270 Livingston Ave4BR,1BA$1.06
310 Western Ave, Unit Unit 2310 Western Ave4BR,1BA$0.56
Crestwood Townhomes2BR Monroe Townhome2BR,1BA$1.31
589 Washington Ave589 Washington Ave4BR,1BA$1.37
211 Ontario St211 Ontario St4BR,1BA$0.48
533 Washington Ave, Unit 2533 Washington Ave3BR,1BA$1.32
Downtown Student Housing3 Bedroom3BR,2BA$1.33
412 Broadway33/341BR,1.5BA$1.31
14 Bohl Ave, Unit 114 Bohl Ave2BR,1BA$1.23
69 Trinity Place1BR/1.5BA1BR,1.5BA$1.37

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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 #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 $1,195.

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 $1,050, while the average apartment in Downtown Albany costs $3,570.

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 14 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 $397 which is $3,173 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

decorative image for A Local Expert’s Guide To the Top Budget-Friendly Neighborhoods to Rent in Albany, NY article

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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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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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.