Cheap Apartments for Rent in the Downtown Albany Neighborhood of Albany, NY from $500 (81 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

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.

Read Article
close
View Me
2 Gage Ave, Unit #2
$1,100
Total Monthly Price

Total Monthly Price

Base Rent
$1,100
Total Monthly Price
$1,100
1 Bedroom Apartment Available Now

2 Gage Ave, Unit #2

2 Gage AveAlbany, NY 12203
Cost Per Sq.Ft.

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.

Read Article
close
View Me
19 Homestead St, Unit 3
$1,150
Total Monthly Price

Total Monthly Price

Base Rent
$1,150
Total Monthly Price
$1,150
2 Bedroom Apartment Available Now

19 Homestead St, Unit 3

19 Homestead StAlbany, NY 12203
Cost Per Sq.Ft.
  • Smoke Free
property at 4 King Ave

$1,200 - $1,400

1 To 2 Bedroom Rentals

Available Jul 1

4 King Ave

AlbanyNY12206

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.

Read Article
property at 37 Maiden Ln

$1,250 - $1,515

1 To 2 Bedroom Rentals

Available Now

37 Maiden Ln

AlbanyNY12207

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.

Read Article
close
View Me
63 2nd Ave
1 Bedroom Apartments

63 2nd Ave

63 2nd AveAlbany, NY 12202
Student Housing
close
View Me
Capitol Green
Studio to 2 Bedroom Apartments

Capitol Green

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

449 State St

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

336 Hudson street

336 Hudson AveAlbany, NY 12210

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.

Read Article
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 1395 Hudson priced from $650. 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
1395 HudsonStudio GStudio,1BA$650
449 State St0 Beds, 1 BathsStudio,1BA$895
287 State St280/2Studio,1BA$940
Campus View ApartmentsStudioStudio,1BA$948
256 state street1 Bedroom, 1 Bathroom1BR,1BA$950
363 state streetStudio, 1 BathroomStudio,1BA$1,000

Best Value Apartments for Rent in Downtown Albany, NY

As of June 15, 2026 the best value apartment in the Downtown Albany area is the $0.17 price per square foot 2nd Floor Model at 370-372 Morris St in the in the Whitehall neighborhood starting from $1,725. The second greatest value Downtown Albany apartment is the 327 Hudson Ave Model at 327 Hudson Ave, Unit Apartment #1 starting at $2,150 with a $1.13 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.
370-372 Morris St2nd Floor3BR,1BA$0.17
327 Hudson Ave, Unit Apartment #1327 Hudson Ave2BR,2.5BA$1.13
178 Western Ave, Unit 3178 Western Ave3BR,1BA$1.13
310 Western Ave, Unit 2310 Western Ave4BR,1BA$0.56
440 New Scotland Ave, Unit 2FL-NSA440 New Scotland Ave2BR,1.5BA$1.30
211 Ontario St, Unit 1211 Ontario St4BR,1BA$0.48
497 Hamilton St, Unit room rentals497 Hamilton St4BR,1BA$0.52
246 Delaware Ave, Unit 1 East246 Delaware Ave2BR,1BA$0.99
19 Homestead St, Unit 319 Homestead St2BR,1BA$1.28
2 Gage Ave, Unit #22 Gage Ave1BR,1BA$1.22

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.

Read Article
Decorative image

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.

Read Article
Decorative image

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.

decorative image of people with a giant lease agreement

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

decorative image of woman handing cat to small boy

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 $1,000.

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

The cheapest apartment in Downtown Albany is 256 state street which is listed at $950, while the average apartment in Downtown Albany costs $3,000.

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 16 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 $571 which is $2,429 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.

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

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

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

decorative image for Pet-Friendly Renting: Everything You Need to Know Before You Move article

Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

decorative image for Creative Ways Developers Reimagine Retail Spaces as Residential Units article

Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.