Cheap Apartments for Rent in the Downtown Neighborhood of Albany, NY from $500 (60 Rentals)

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

property at 130 S Pearl St

$990

Total Monthly Price

Total Monthly Price

Base Rent
$990
Total Monthly Price
$990

2 Bedroom, 1.5 Bath Townhome for Rent

Available Now

130 S Pearl St

AlbanyNY12202

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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property at 37 Maiden Ln

$1,250 - $1,515

1 To 2 Bedroom Rentals

Available Now

37 Maiden Ln

AlbanyNY12207

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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63 2nd Ave
1 Bedroom Apartments

63 2nd Ave

63 2nd AveAlbany, NY 12202
Student Housing

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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142 Morton Ave
Studio to 1 Bedroom Apartments

142 Morton Ave

142 Morton AveAlbany, NY 12202
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336 Hudson street
Studio to 2 Bedroom Apartments

336 Hudson street

336 Hudson AveAlbany, 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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363 state street
Studio to 1 Bedroom Apartments

363 state street

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

252 state street

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

409 State St

409 State StAlbany, NY 12210
  • Utilities Included

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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The Amsdell
Studio Apartments

The Amsdell

175 Jay StAlbany, NY 12210
Corporate Housing
  • Utilities Included
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69 Trinity Place
Studio to 2 Bedroom Apartments

69 Trinity Place

69 Trinity PlAlbany, NY 12202
Student Housing
property at 65 Lark St

$1,200

Total Monthly Price

Total Monthly Price

Base Rent
$1,200
Total Monthly Price
$1,200

1 Bedroom, 1 Bath Condo for Rent

Available Now

65 Lark St, Unit 1, Unit 1

65 Lark St
AlbanyNY12210
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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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27 Western Ave
Studio to 2 Bedroom Apartments

27 Western Ave

27 Western AveAlbany, NY 12203
  • Utilities Included

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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Showing Results 1-50, Page 1 of 2

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 142 Morton Ave priced from $800. 363 state street has the second lowest priced unit, which is a Studio apartment currently listed from $1,000. Here are the most affordable Downtown apartments for rent in Albany, NY:

Apartment ListingModel NameBed/BathPriced From
142 Morton AveStudio, 1 BathroomStudio,1BA$800
363 state streetStudio, 1 BathroomStudio,1BA$1,000
71 chestnut street1 Bedroom, 1 Bathroom1BR,1BA$1,050
287 State St285/2RStudio,1BA$1,150
69 Trinity PlaceSpacious Studio Minutes from Times Union, Alban...Studio,1BA$1,195
20 Park ResidencesStudioStudio,1BA$1,250
Willett ApartmentsStudioStudio,1BA$1,365

Best Value Apartments for Rent in Downtown, NY

As of May 26, 2026 the best value apartment in the Downtown area is the $1.13 price per square foot 327 Hudson Ave Model at 327 Hudson Ave, Unit Apartment #1 in the in the Whitehall neighborhood starting from $2,150. The second greatest value Downtown apartment is the 35 Clinton Ave Model at 35 Clinton Ave starting at $2,250 with a $1.55 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.
327 Hudson Ave, Unit Apartment #1327 Hudson Ave2BR,2.5BA$1.13
35 Clinton Ave35 Clinton Ave2BR,2.5BA$1.55
270 Livingston Ave, Unit #1270 Livingston Ave4BR,1BA$1.06
385 Orange St385 Orange St4BR,1BA$1.31
The Monroe Apartments2BR/2.0BA2BR,2BA$1.52
The Lofts at 733 BroadwayUnit 2041BR,1BA$1.38
69 Trinity Place1BR/1.5BA1BR,1.5BA$1.37
Hinckel Brewery Development LLC1BR/1.0BA1BR,1BA$1.44
396 Clinton Ave, Unit 2396 Clinton Ave3BR,1BA$1.49
254 Sheridan Ave, Unit 2254 Sheridan Ave3BR,1BA$1.37

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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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, NY

Ranked #7

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 142 Morton Ave listed at $800.

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

The lowest price for a Cheap One Bedroom Downtown Apartment is $1,050 at 71 chestnut street.

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 Willett Apartments and starts from $1,975.

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 A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

decorative image for Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.