The average rent in Albany, NY is $1,894 per month,
based on 647 units across 100 apartment communities.
Prices range from $650 at Livingston School Apartments to $2,700 at Excelsior North Greenbush.
Average Rent by Bedroom Type
Type
Avg Rent
Starting From
Units
Studio
$2,052/mo
$650/mo
50
1 Bed
$1,680/mo
$720/mo
267
2 Bed
$1,999/mo
$1,137/mo
280
3 Bed
$2,311/mo
$1,019/mo
49
4 Bed
$999/mo
$999/mo
1
Every price is a real asking rent, updated that morning.
Request a neighborhood we don't cover and we add it within 24 hours.
Market Context
Who rents in Albany, NY, and what they pay
Tracked one-bedroom rent in Albany, NY averages $1,680/mo, with two-bedroom units averaging $1,999/mo.
At the local median household income of $59,485,
that works out to 38% of gross income,
above the 30 percent affordability ceiling, a stretched-budget market.
The U.S. Census Bureau's American Community Survey 2023 release pegged
median gross rent in Albany, NY at $1,178/mo.
The current tracked market average runs
61% higher than that benchmark, reflecting both
two to three years of rent growth and the fact that the Census figure covers all renter-occupied housing in Albany, NY
while the tracked market average covers units currently listed in larger apartment communities.
What salary do I need to live comfortably in Albany, NY?
Built on the 25 to 30 percent rent-to-income guideline used by most landlords and credit-scoring models.
Minimum to afford average rent
$76,000/year
Based on the 30 percent rule, using our tracked average rent of $1,894/mo.
Comfortable income
$91,000/year
Based on the 25 percent rule, leaving more room for savings, transport, and groceries.
To afford the cheapest tracked apartment ($650/mo), you need to earn at least $26,000/year.
Median household income in Albany, NY is $59,485 , about 35% below the comfortable-living threshold.
Cost of living in Albany, NY
Overall prices in Albany, NY runs below the national average by about 2%
(BEA Regional Price Parity index 98.2, where 100 equals the U.S. average).
The breakdown below estimates monthly costs for a single adult, using national consumer-spending baselines from the Bureau of Labor Statistics scaled by Albany, NY's regional price parities.
Category
Monthly estimate
Source
Rent (market average)
$1,894
daily refresh
Utilities
$399
BLS × BEA RPP
Groceries
$526
BLS × BEA RPP
Transportation
$951
BLS × BEA RPP
Healthcare
$464
BLS × BEA RPP
Other goods and services
$743
BLS × BEA RPP
Estimated total
$4,977/mo
$59,722/year
Population
100,081
Median household income
$59,485
Census median rent
$1,178/mo
Rent as % of income
30.0%
Median age
31.9
Mean commute
20 min
Methodology
Rent data
Sourced directly from each tracked apartment community and refreshed every 24 hours. Every listed unit price on this page is real and listed today.
Cost of living
Estimates combine national consumer-spending baselines from the U.S. Bureau of Labor Statistics (Consumer Expenditure Survey) with the U.S. Bureau of Economic Analysis Regional Price Parities (MARPP dataset). Both are peer-reviewed federal data releases published annually.
Salary to live comfortably
Applies the standard 25 to 30 percent rent-to-income rule on top of the listed rent. This is the same affordability guideline used by most landlords and credit-scoring models.
Demographic figures
Median household income, population, median age, commute time, Census median rent, and rent as percentage of income come from the U.S. Census Bureau's American Community Survey 5-year estimates, the most recent complete release.
Cost of living and demographic figures were last published in 2023.
Compare
Nearby cities in New York
How Albany, NY rent compares to other markets in the state.
The average rent in Albany, NY is $1,894 per month, based on 647 units across 100 apartment buildings tracked by Average Rent. Prices are refreshed daily.
What is the cheapest apartment rent in Albany, NY?
The lowest available rent in Albany, NY starts at $650 per month. Availability changes daily and prices are refreshed each morning.
How much is a 1-bedroom apartment in Albany, NY?
1-bedroom apartments in Albany, NY average $1,680/mo. The lowest listed 1-bedroom starts at $720/mo across 267 units tracked.
How much is a 2-bedroom apartment in Albany, NY?
2-bedroom apartments in Albany, NY average $1,999/mo. Units start from $1,137/mo across 280 units currently listed.
Rent Trends in Albany, NY
Track how apartment prices are changing over time.
