close
View Me
from $900Studio to 3 Bedroom Apartments Contact Us For Availability
361 State St
361 State StAlbany, NY 12210
Cheap Apartments for Rent in the Downtown Neighborhood of Albany, NY from $500 (21 Rentals)
Search the lowest-cost Apartments available for rent right now in the Downtown area of Albany.
close
View Me
close
View Me
close
View Me
close
View Me
139 Madison Ave
AlbanyNY12202
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.
51 Elm St
AlbanyNY12202
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
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.
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
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.
Showing Results 1-21, Page 1 of 1
Downtown, Albany, NY Local Guide
How much does it cost to rent an apartment in Downtown?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Studio Apartments | $1,318 | $900 | $2,180 |
| Downtown 1 Bedroom Apartments | $1,495 | $1,050 | $2,400 |
| Downtown 2 Bedroom Apartments | $1,890 | $1,100 | $3,405 |
| Downtown 3 Bedroom Apartments | $1,870 | $1,215 | $2,500 |
| Downtown 4 Bedroom Apartments | $1,750 | $1,750 | $1,750 |
Browse Apartments in this Neighborhood
There are currently 21 rentals with your search options within a 2 mile radius of the Downtown Neighborhood of Albany, NY.
See all Apartments in AlbanyExplore Albany
Downtown, Albany, NY Local Guide
- Nearby Albany neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Available Downtown Apartments for Rent
The cheapest available apartment rental in the Downtown area of Albany, NY is a Studio unit found at 142 Morton Ave priced from $850. 252 state street has the second lowest priced unit, which is a Studio apartment currently listed from $900. Here are the most affordable Downtown apartments for rent in Albany, NY:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 142 Morton Ave | Studio, 1 Bathroom | Studio,1BA | $850 |
| 252 state street | Studio, 1 Bathroom | Studio,1BA | $900 |
| 338 Hudson street | Studio, 1 Bathroom | Studio,1BA | $950 |
| The Amsdell | Style A | Studio,1BA | $1,130 |
| 100 Chestnut St | Studio, 1 bath | Studio,1BA | $1,200 |
Best Value Apartments for Rent in Downtown, NY
As of June 21, 2025 the best value apartment in the Downtown area is the $0.84 price per square foot The James Model at 44 James in the in the Mount Hope neighborhood starting from $1,895. The second greatest value Downtown apartment is the 368 Broadway Model at 368 Broadway, Unit 2 starting at $2,050 with a $1.21 price per square foot in the Mount Hope neighborhood. Here is today’s list of the best values for Downtown apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 44 James | The James | 2BR,1BA | $0.84 |
| 368 Broadway, Unit 2 | 368 Broadway | 2BR,2.5BA | $1.21 |
| 20 S Dove St, Unit 1 | 20 S Dove St | 3BR,1BA | $1.58 |
| Hinckel Brewery Development LLC | 1BR/1.0BA | 1BR,1BA | $1.43 |
| 412 Broadway | 33/34 | 1BR,1.5BA | $1.31 |
| 518 Broadway, Unit 1 | 518 Broadway | 1BR,1BA | $1.70 |
| 99 Pine Street | 1BR/1.0BA | 1BR,1BA | $1.42 |
| 49 Broadway, Unit floor 2 | 49 Broadway | 1BR,1BA | $1.53 |
| 8 Myrtle Ave, Unit 2 | 8 Myrtle Ave | 1BR,1BA | $1.62 |
| Willett Apartments | 1 Bedroom 1 Bathroom with Dining Room | 1BR,1BA | $1.78 |
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.
Let everyone know!
Do you know the Downtown area?
If you’re an expert on all things Downtown, tell us what you love (and don't) by rating it and writing a review.
Write a Review
Pet Friendly LifestyleDowntown, Albany, NY
Ranked #23
Among neighborhoods in Albany, NY for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Frequently Asked Questions about Cheap Downtown Apartments
What is the Cheapest Studio apartment in Downtown?
Currently the most affordable Cheap Studio Apartment in Downtown is at 142 Morton Ave listed at $850.
How much is rent for a Cheap One Bedroom Downtown Apartment?
The lowest price for a Cheap One Bedroom Downtown Apartment is $991 at 142 Morton Ave.
What is the lowest price for a Cheap Two Bedroom Downtown Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Downtown is starting from $1,540 at Willett Apartments.
What is the most affordable Downtown Three Bedroom Apartment?
The best deal on a cheap Downtown Three Bedroom Apartment rental is at Hinckel Brewery Development LLC and starts from $2,000.
Expert Rental Resources
Helpful Apartment Articles, How-To's and Tips
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.
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.
Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
Written by: Cheryl Bowman
A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.
The Art of the Rental Viewing: What to look for during a property tour
Written by: Marie Brown
You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.
Know Your Budget: Calculating What You Can Realistically Afford When Renting
Written by: Lauren Harrington
Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.