Most Affordable Neighborhoods in Albany, NY
Some of the cheapest neighborhoods in Albany are Pine Hills, Burt Farm, and Sheridan Hollow. These neighborhoods offer some of the lowest rent prices in Albany, making them ideal for renters on a budget. As of August 2, 2025, the average rent in Albany is $1,533, which is 1.4% higher than last year. However, it's important to remember that rental prices can vary significantly based on factors such as location, amenities, and floor plans.
Pine Hills
Average Rent
$1,301/Month
Year-Over-Year Rent Change
1.1%
TransitScore® Rating
58/100
Units Available
17 Rentals
Pine Hills is known for its historic homes and walkability. Residents enjoy living in a suburban, picket fence dream near Washington Park and Downtown Albany.
Burt Farm
Average Rent
$1,403/Month
TransitScore® Rating
57/100
Units Available
10 Rentals
Burt Farm is an affordable neighborhood in Albany with an average rent price of $1,403. Compare this to the city average of $1,533. Burt Farm provides easy access to Delaware Plaza, New York State Museum, and The Sage Colleges, Albany. It’s a walkable neighborhood with a WalkScore® of 84.
Sheridan Hollow
Average Rent
$1,481/Month
Year-Over-Year Rent Change
1.5%
TransitScore® Rating
71/100
Units Available
28 Rentals
Sheridan Hollow is a centrally located neighborhood just north of Downtown Albany. Historic townhomes and duplexes are a staple of Sheridan Hollow, giving the neighborhood the signature New York feel.
Washington Park
Average Rent
$1,482/Month
Year-Over-Year Rent Change
1.9%
TransitScore® Rating
63/100
Units Available
18 Rentals
Washington Park is a popular neighborhood centered around its namesake, the iconic Washington Park. Renters will enjoy the proximity to local shops and restaurants, as well as community events at Washington Park.
Capitol Hill
Average Rent
$1,506/Month
Year-Over-Year Rent Change
2.5%
TransitScore® Rating
67/100
Units Available
17 Rentals
If you’re looking for a great, affordable neighborhood in Albany, Capitol Hill might be the perfect place! It has an average rent price of $1,506, while the city’s average stands at $1,533. In the last year, prices have increased by 2.5%. Capitol Hill is near Albany Medical College, SUNY Albany, Downtown Campus, and Children's Museum of Science & Technology.
Central Avenue
Average Rent
$1,536/Month
Year-Over-Year Rent Change
0.6%
TransitScore® Rating
68/100
Units Available
17 Rentals
Central Avenue is a bustling neighborhood next door to Washington Park offering shopping, dining, and public transportation. Renters will appreciate the variety of housing options and historic charm.
Center Square
Average Rent
$1,548/Month
Year-Over-Year Rent Change
2.8%
TransitScore® Rating
69/100
Units Available
25 Rentals
Center Square is a historic neighborhood known for its charming brownstones and proximity to Washington Park. Events at The Egg and Empire State Plaza and exhibits at the New York State Museum ensure there's always something to do.
Arbor Hill
Average Rent
$1,553/Month
Year-Over-Year Rent Change
3.5%
TransitScore® Rating
64/100
Units Available
43 Rentals
Arbor Hill is a top choice for budget-conscious renters for a variety of reasons. The average rent in Arbor Hill is $1,553 while the city average is $1,533. This is a 3.5% difference from last year. Residents enjoy convenient access to Children's Museum of Science & Technology, Delaware Plaza, and Audubon Center at Knox Farm State Park. The neighborhood is considered somewhat walkable with a WalkScore® of 66.
Park South
Average Rent
$1,553/Month
Year-Over-Year Rent Change
0.3%
TransitScore® Rating
63/100
Units Available
18 Rentals
When you’re looking for a great Albany neighborhood on a budget, check out Park South. The average rent is $1,553, compared to the city average of $1,533. Rent prices have increased by 0.3%. Park South is convenient to New York State Museum, Delaware Plaza, and Albany Law School. The community is walkable with a WalkScore® of 88.
Westlawn
Average Rent
$1,582/Month
TransitScore® Rating
0/100
Units Available
21 Rentals
Westlawn is an affordable neighborhood in Albany with an average rent price of $1,582. Compare this to the city average of $1,533. Westlawn provides easy access to Tawasentha Park, Albany International, and Audubon Center at Knox Farm State Park. It’s a somewhat walkable neighborhood with a WalkScore® of 64.
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Methodology
Transit Score measures access to public transit. Scores range from 0 (minimal transit) to 100 (rider’s paradise). Learn more about the Transit Score methodology. Rental data is sourced from CoStar Group’s Market Trend reports. As a leading authority in commercial real estate information, analytics, and news, CoStar performs in-depth research to build and sustain an extensive database of commercial real estate insights.
We've combined this data with public records to provide the most current rental information available.