Most Affordable Neighborhoods in Albany, NY
Some of the cheapest neighborhoods in Albany are West Hill, Beverwyck, and Mansion Area. These neighborhoods offer some of the lowest rent prices in Albany, making them ideal for renters on a budget. As of May 3, 2025, the average rent in Albany is $1,503, which is 2.2% 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.
West Hill
Average Rent
$1,155/Month
Year-Over-Year Rent Change
0.8%
TransitScore® Rating
58/100
Units Available
9 Rentals
West Hill is a diverse, community-centric neighborhood that gives renters a small town feel with the excitement of New York living. The Tivoli Lake Preserve provides the perfect getaway for nature lovers, and Bleecker Stadium enhances the community through youth and adult sports leagues.
Beverwyck
Average Rent
$1,231/Month
TransitScore® Rating
60/100
Units Available
8 Rentals
Beverwyck offers spacious homes and proximity to local parks and schools. Two-story homes with wide front porches are a staple of Beverwyck, and residents enjoy the neighborhood's small-town feel.
Mansion Area
Average Rent
$1,246/Month
Year-Over-Year Rent Change
1.9%
TransitScore® Rating
70/100
Units Available
7 Rentals
Mansion Area is an affordable neighborhood in Albany with an average rent price of $1,246. Compare this to the city average of $1,503. In the past year, rent prices have increased by 1.9%. Mansion Area provides easy access to SUNY Albany, Downtown Campus, Children's Museum of Science & Technology, and New York State Museum. It’s a walkable neighborhood with a WalkScore® of 92.
Pine Hills
Average Rent
$1,284/Month
Year-Over-Year Rent Change
0.3%
TransitScore® Rating
58/100
Units Available
11 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.
Capitol Hill
Average Rent
$1,363/Month
Year-Over-Year Rent Change
4%
TransitScore® Rating
67/100
Units Available
20 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 $1,363, while the city’s average stands at $1,503. In the last year, prices have decreased by 4%. Capitol Hill is near Albany International, SUNY Albany, Downtown Campus, and Albany Medical College.
Center Square
Average Rent
$1,378/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.
Normanskill/Kenwood
Average Rent
$1,408/Month
Year-Over-Year Rent Change
1.3%
TransitScore® Rating
39/100
Units Available
8 Rentals
Normanskill/Kenwood is a scenic neighborhood surrounded by greenery. Residents enjoy access to parks, hiking trails, and the Normans Kill Creek. Easy access to Downtown Albany makes this area perfect for nature lovers seeking a suburban living with city conveniences.
Sheridan Hollow
Average Rent
$1,452/Month
Year-Over-Year Rent Change
2.8%
TransitScore® Rating
71/100
Units Available
22 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.
Central Avenue
Average Rent
$1,460/Month
Year-Over-Year Rent Change
0.6%
TransitScore® Rating
68/100
Units Available
15 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.
Washington Park
Average Rent
$1,478/Month
Year-Over-Year Rent Change
0.1%
TransitScore® Rating
63/100
Units Available
16 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.
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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.