Cheap Homes for Rent in Albany, NY from $300 (41 Rentals)

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property at 5 Stephen St

5 Stephen St

AlbanyNY12202
property at 66 13th St

66 13th St

TroyNY12180
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Albany, NY Local Guide

Cheapest Neighborhoods for Apartments in Albany, NY

Pricing Updated: 11/09/2025

Current apartment rentals in the Albany, NY area range in price from $650 to $4,330 with an overall median price of $2,437. The three Albany neighborhoods with the lowest median rent pricing are Central State at $805, Hamilton Hill at $1,375, and Center Square at $1,015. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Albany Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Central State$1,487$8053
Hamilton Hill$1,537$1,3752
Center Square$1,730$1,01511
Campus Area$1,797$89527
Capitol Hill$1,800$1,01528
Downtown$1,800$1,00084
Sheridan Hollow$1,832$1,05030
Mount Hope$1,850$650123
Normanskill Kenwood$1,850$65095
Arbor Hill$1,915$1,10037

Cheapest Available Albany Apartments for Rent

 

The cheapest available apartment rental in Albany, NY is a 2 Beds unit found at Colvin Avenue Commons in the West Hill neighborhood priced from $733. 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
Colvin Avenue Commons2 Beds, 1 bath2BR,1BA$733
142 Morton AveStudio, 1 BathroomStudio,1BA$850
Capitol GreenStudioStudio,1BA$875
336 Hudson streetStudio, 1 BathroomStudio,1BA$950
Campus View ApartmentsStudioStudio,1BA$968
363 state streetStudio, 1 BathroomStudio,1BA$1,000
71 chestnut street1 Bedroom, 1 Bathroom1BR,1BA$1,000
252 state street1 Bedroom, 1 Bathroom1BR,1BA$1,050
256 state street1 Bedroom, 1 Bathroom1BR,1BA$1,050

Best Value Apartments for Rent in Albany, NY

As of November 10, 2025 the best value apartment in the Albany area is the $1.04 price per square foot 24b Thacher St Model at 24b Thacher St, Unit 24B Thacher st in the in the Arbor Hill neighborhood starting from $2,900. The second greatest value Albany apartment is the 268 Western Ave Model at 268 Western Ave, Unit 1 starting at $2,400 with a $0.96 price per square foot in the Whitehall 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.
24b Thacher St, Unit 24B Thacher st24b Thacher St3BR,2BA$1.04
268 Western Ave, Unit 1268 Western Ave4BR,1BA$0.96
1 Ten Broeck St, Unit Lower Level1 Ten Broeck St3BR,2BA$1.05
160 River St, Unit 160160 River St2BR,1BA$1.03
10 Woolard Ave, Unit 2nd FL10 Woolard Ave2BR,1BA$0.94
459 Jay St, Unit 1459 Jay St2BR,1BA$0.96
126 4th St, Unit 1126 4th St1BR,1BA$0.58
67 Sand Creek Rd, Unit 167 Sand Creek Rd1BR,1BA$1.04
159 River St, Unit 166B159 River StStudio ,1BA$1.06
182 River St, Unit 166 River St apt C182 River St2BR,1BA$1.08

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

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Remember the 3 Rules of Real Estate:
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Frequently Asked Questions about Albany

What type of rentals are currently available in Albany?

There are currently 1377 Apartments for Rent in Albany, NY with pricing that ranges from $600 to $4,330. There are also 196 Single Family Homes for rent, Condos, and Townhome rentals currently available in Albany ranging from $350 to $5,000.

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 $350 to $5,000 with an average monthly rent of $2,282.

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 $999 to $3,461, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,200 to $3,050. Four Bedroom Single-Family rentals are also available starting from $725 and Four Bedroom Apartments start at $600.

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.

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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.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.