Cheap Apartments for Rent in the Downtown Neighborhood of Albany, NY from $550 (46 Rentals)

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

property at 147 Eagle St

$1,100

1 Bedroom Rentals

Available Now

147 Eagle St

AlbanyNY12202

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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63 2nd Ave
1 Bedroom Apartments

63 2nd Ave

63 2nd AveAlbany, NY 12202
Student Housing

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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449 State St
Studio to 2 Bedroom Apartments

449 State St

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

336 Hudson street

336 Hudson AveAlbany, NY 12210
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142 Morton Ave
Studio to 1 Bedroom Apartments

142 Morton Ave

142 Morton AveAlbany, NY 12202
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363 state street
Studio to 1 Bedroom Apartments

363 state street

363 State StAlbany, NY 12210
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256 state street
Studio to 3 Bedroom Apartments

256 state street

256 State StAlbany, NY 12210
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409 State St
1 Bedroom Apartments

409 State St

409 State StAlbany, NY 12210
  • Utilities Included

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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The Amsdell
Studio Apartments

The Amsdell

175 Jay StAlbany, NY 12210
Corporate Housing
  • Utilities Included
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325 State Street
Studio to 2 Bedroom Apartments

325 State Street

325 State StAlbany, NY 12210
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69 Trinity Place
Studio to 2 Bedroom Apartments

69 Trinity Place

69 Trinity PlAlbany, NY 12202
Student Housing
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255 State St
1 Bedroom Apartments

255 State St

255 State StAlbany, NY 12210
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252 state street
Studio to 2 Bedroom Apartments

252 state street

252 State StAlbany, NY 12210

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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27 Western Ave
Studio to 2 Bedroom Apartments

27 Western Ave

27 Western AveAlbany, NY 12203
  • Utilities Included
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309 State St
1 Bedroom Apartments

309 State St

309 State StAlbany, NY 12210
Corporate Housing
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338 Hudson street
Studio to 2 Bedroom Apartments

338 Hudson street

338 Hudson AveAlbany, NY 12210
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22 High St
1 Bedroom Apartments

22 High St

22 High StRensselaer, NY 12144
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48 Broadway
1 Bedroom Apartments

48 Broadway

48 BroadwayRensselaer, NY 12144

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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Showing Results 1-46, Page 1 of 1

Downtown, Albany, NY Local Guide

Cheapest Available Downtown Apartments for Rent

 

The cheapest available apartment rental in the Downtown area of Albany, NY is a Studio unit found at 449 State St priced from $895. 336 Hudson 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 ListingModel NameBed/BathPriced From
449 State St0 Beds, 1 BathsStudio,1BA$895
336 Hudson streetStudio, 1 BathroomStudio,1BA$900
142 Morton Ave1 Bedroom, 1 Bathroom1BR,1BA$1,000
363 state streetStudio, 1 BathroomStudio,1BA$1,000
256 state streetStudio, 1 BathroomStudio,1BA$1,025
71 chestnut street1 Bedroom, 1 Bathroom1BR,1BA$1,050
69 Trinity PlaceSpacious Studio Minutes from Times Union, Alban...Studio,1BA$1,195
441 State StStudioStudio,1BA$1,200
287 State St491/1A1BR,1BA$1,225

Best Value Apartments for Rent in Downtown, NY

As of August 25, 2026 the best value apartment in the Downtown area is the $0.15 price per square foot 280 State St Model at 280 State St, Unit 3 in the in the Arbor Hill neighborhood starting from $1,525. The second greatest value Downtown 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 apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
280 State St, Unit 3280 State St2BR,1BA$0.15
44 Clinton Ave, Unit 2 Brownstone44 Clinton Ave3BR,2BA$1.25
35 Clinton Ave, Unit UpperFloors/2Bedroom35 Clinton Ave2BR,2.5BA$1.41
Hinckel Brewery Development LLC3BR/1.0BA3BR,1BA$1.39
930 On Broadway2 Bedroom C2BR,1BA$1.80
13 Delaware St, Unit 13 delaware st albany ny13 Delaware St2BR,1BA$1.64
The Kennedy4022BR,1BA$1.82
396 Clinton Ave, Unit 2396 Clinton Ave3BR,1BA$1.49
99 Pine Street1BR/1.0BA1BR,1BA$1.80
82 Dove St, Unit B82 Dove St1BR,1BA$1.36

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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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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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, NY

Ranked #13

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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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 449 State St listed at $895.

How much is rent for a Cheap One Bedroom Downtown Apartment?

The lowest price for a Cheap One Bedroom Downtown Apartment is $1,000 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 $1,550 at 96- 100 Chestnut St.

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 $1,950.

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 The Best Neighborhoods for Renters While Attending College in Albany article

The Best Neighborhoods for Renters While Attending College in Albany

Written by: Patrick Ryan

Albany, the Capital city of New York state, is revered for its unique architecture and storied history.

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

decorative image for Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags article

Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.