Cheap Homes for Rent in Albany, NY from $800 (89 Rentals)

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property at 260 Madison St

260 Madison St

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property at 538 2nd St

538 2nd St

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Albany, NY Local Guide

Cheapest Neighborhoods for Apartments in Albany, NY

Pricing Updated: 07/30/2025

Current apartment rentals in the Albany, NY area range in price from $700 to $3,995 with an overall median price of $2,836. The three Albany neighborhoods with the lowest median rent pricing are South End at $1,200, Central State at $700, and Seward Place at $850. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Albany Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
South End$1,200$1,2001
Central State$1,450$7002
Seward Place$1,695$8503
Melrose$1,745$1,6502
Downtown Albany Historic District$1,750$1,1003
Winchester Gables$1,823$1,5502
Mt Pleasant$1,840$70010
Downtown Schenectady$1,925$70011
Arbor Hill$1,950$1,3252
Capitol Hill$2,100$1,1008

Cheapest Available Albany Apartments for Rent

 

The cheapest available apartment rental in Albany, NY is a Studio unit found at 252 state street in the Arbor Hill neighborhood priced from $850. 142 Morton Ave in the Whitehall neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $850. Here is today’s list of the most affordable Albany apartments for rent:

Apartment ListingModel NameBed/BathPriced From
252 state streetStudio, 1 BathroomStudio,1BA$850
142 Morton AveStudio, 1 BathroomStudio,1BA$850
Capitol GreenStudioStudio,1BA$875
The Valley GreenShared 2 Bed 1 Bath B1BR,1BA$895
Campus View ApartmentsStudioStudio,1BA$968
Latham Village AptartmentsOne Bedroom One Bath1BR,1BA$1,065
Caldwell ApartmentsStudioStudio,1BA$1,085
@HudsonPark0BR/1.0BAStudio,1BA$1,100
Downtown Student Housing2 Bedroom2BR,2BA$1,100

Best Value Apartments for Rent in Albany, NY

As of July 30, 2025 the best value apartment in the Albany area is the $0.50 price per square foot 203 5th Ave Model at 203 5th Ave, Unit 203 5th ave front apt in the starting from $1,200. The second greatest value Albany apartment is the 2nd Floor Model at 8 Madison Pl starting at $1,935 with a $0.97 price per square foot in the Mount Hope neighborhood. Here is today’s list of the best values for Albany apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
203 5th Ave, Unit 203 5th ave front apt203 5th Ave1BR,1BA$0.50
8 Madison Pl2nd Floor1BR,1BA$0.97
489 Western Ave, Unit 3489 Western Ave5BR,2BA$1.15
287 State StUnit 3F2BR,1BA$1.16
160 River St, Unit 160160 River St2BR,1BA$0.97
Crestwood Townhomes2BR Monroe Townhome2BR,1BA$1.29
Greenbush Station2 Bed 1.5 Bath Townhouse2BR,1.5BA$1.25
164 River St, Unit 1164 River St2BR,1BA$1.18
184 River St, Unit 184 River Street184 River St1BR,1BA$1.18
Latham Village AptartmentsOne Bedroom One Bath1BR,1BA$1.18

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Albany, NY Area Reviews

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Frequently Asked Questions about Albany

What type of rentals are currently available in Albany?

There are currently 1356 Apartments for Rent in Albany, NY with pricing that ranges from $550 to $5,787. There are also 195 Single Family Homes for rent, Condos, and Townhome rentals currently available in Albany ranging from $800 to $5,950.

What is the current price range for Rental Homes in Albany?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Albany ranges from $800 to $5,950 with an average monthly rent of $2,525.

How much are larger Three and Four Bedroom Rentals in Albany?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Albany range from $975 to $5,787, while Three Bedroom Homes, Condos, and Townhomes for rent range from $995 to $4,500. Four Bedroom Single-Family rentals are also available starting from $1,675 and Four Bedroom Apartments start at $650.

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.

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 Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting article

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

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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.

decorative image for The Art of the Rental Viewing: What to look for during a property tour article

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.