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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.
31-33 N Pearl St
AlbanyNY12207
91 Columbia St
AlbanyNY12210
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$1,0751 Bedroom Apartment Available Now
386 Madison Ave, Unit Garden Level
386 Madison AveAlbany, NY 12210
5 Irving 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.
139 Madison Ave
AlbanyNY12202
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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 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.
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 | $1,298 | $995 | $1,980 |
| Downtown 1 Bedroom Apartments | $1,551 | $1,000 | $2,129 |
| Downtown 2 Bedroom Apartments | $1,811 | $1,100 | $2,995 |
| Downtown 3 Bedroom Apartments | $1,810 | $1,215 | $2,080 |
| Downtown 4 Bedroom Apartments | $1,675 | $1,100 | $2,250 |
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
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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. @HudsonPark has the second lowest priced unit, which is a Studio apartment currently listed from $1,050. 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 |
| @HudsonPark | 0BR/1.0BA | Studio,1BA | $1,050 |
| 256 state street | 1 Bedroom, 1 Bathroom | 1BR,1BA | $1,050 |
| 71 chestnut street | 1 Bedroom, 1 Bathroom | 1BR,1BA | $1,050 |
| 309 State St | 1 Bedroom | 1BR,1BA | $1,300 |
Best Value Apartments for Rent in Downtown, NY
As of January 03, 2026 the best value apartment in the Downtown area is the $1.21 price per square foot 182 Washington Ave Model at 182 Washington Ave, Unit Third floor mansion apt. in the in the Whitehall neighborhood starting from $2,000. The second greatest value Downtown apartment is the 3BR/2.0BA Model at Hinckel Brewery Development LLC starting at $2,400 with a $1.50 price per square foot in the Whitehall 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. |
|---|---|---|---|
| 182 Washington Ave, Unit Third floor mansion apt. | 182 Washington Ave | 3BR,1BA | $1.21 |
| Hinckel Brewery Development LLC | 3BR/2.0BA | 3BR,2BA | $1.50 |
| 427 S Pearl St, Unit 3rd Fl | 427 S Pearl St | 2BR,1BA | $0.93 |
| The Monroe | Plan 508 | 2BR,2BA | $1.59 |
| 107 3rd Ave, Unit Neilzen | 107 3rd Ave | 3BR,1BA | $1.21 |
| 412 Broadway | 33/34 | 1BR,1.5BA | $1.31 |
| The Lofts at 733 Broadway | Unit 204 | 1BR,1BA | $1.38 |
| 520 Madison Ave, Unit 1 | 520 Madison Ave | 3BR,1BA | $1.58 |
| 15 John St, Unit 1 | 15 John St | 2BR,1BA | $1.48 |
| 1452 Broadway, Unit 2nd floor | 1452 Broadway | 2BR,1BA | $1.35 |
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.
Read ArticleCash 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 ArticleQuick 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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If you’re an expert on all things Downtown, tell us what you love (and don't) by rating it and writing a review.
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Pet Friendly LifestyleDowntown, Albany, NY
Ranked #19
Among cities in New York 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 $1,050 at 256 state 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
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.
How to Make Your Apartment Holiday-Ready: Renter-Friendly Tips
Written by: Justin Habersaat
Getting your apartment ready for the holidays can be exciting but sometimes challenging in a smaller space. Here are some modern tips to keep things festive, safe, and inviting this season.
Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.
Apartment Common Area Rules: What Renters Need to Know
Written by: Christine Leonard, Esq.
Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.