Most Affordable Neighborhoods in Albany, NY
Some of the cheapest neighborhoods in Albany are West Hill, Center Square, and Pine Hills. These neighborhoods offer some of the lowest rent prices in Albany, making them ideal for renters on a budget. As of June 18, 2025, the average rent in Albany is $1,505, which is 2.4% 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.
West Hill
Average Rent
$1,106/Month
Year-Over-Year Rent Change
0.8%
TransitScore® Rating
58/100
Units Available
10 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.
Center Square
Average Rent
$1,327/Month
Year-Over-Year Rent Change
3.5%
TransitScore® Rating
69/100
Units Available
16 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.
Pine Hills
Average Rent
$1,394/Month
Year-Over-Year Rent Change
1.2%
TransitScore® Rating
58/100
Units Available
13 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
$1,420/Month
Year-Over-Year Rent Change
1.1%
TransitScore® Rating
67/100
Units Available
26 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 $1,420, while the city’s average stands at $1,505. In the last year, prices have increased by 1.1%. Capitol Hill is near Audubon Center at Knox Farm State Park, Albany International, and SUNY Albany, Downtown Campus.
Sheridan Hollow
Average Rent
$1,434/Month
Year-Over-Year Rent Change
1.7%
TransitScore® Rating
71/100
Units Available
38 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.
Arbor Hill
Average Rent
$1,487/Month
Year-Over-Year Rent Change
1.3%
TransitScore® Rating
64/100
Units Available
52 Rentals
Arbor Hill is a top choice for budget-conscious renters for a variety of reasons. The average rent in Arbor Hill is $1,487 while the city average is $1,505. This is a 1.3% difference from last year. Residents enjoy convenient access to Albany International, Hudson River Valley National Heritage Area, and New York State Museum. The neighborhood is considered somewhat walkable with a WalkScore® of 66.
Washington Park
Average Rent
$1,525/Month
Year-Over-Year Rent Change
2.6%
TransitScore® Rating
63/100
Units Available
14 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.
Downtown Albany Historic District
Average Rent
$1,527/Month
Year-Over-Year Rent Change
0.7%
TransitScore® Rating
71/100
Units Available
55 Rentals
The Downtown Albany Historic District is a bustling area filled with art, history, and nightlife. Catch a show at the MVP Arena or an art exhibit at the Albany Center Gallery. The neighborhood's walkability and vintage architecture make it a city landmark.
Westlawn
Average Rent
$1,562/Month
TransitScore® Rating
0/100
Units Available
20 Rentals
When you’re looking for a great Albany neighborhood on a budget, check out Westlawn. The average rent is $1,562, compared to the city average of $1,505. Westlawn is convenient to Albany International, The College of Saint Rose, and New York State Museum. The community is somewhat walkable with a WalkScore® of 64.
Park South
Average Rent
$1,607/Month
Year-Over-Year Rent Change
0.9%
TransitScore® Rating
63/100
Units Available
16 Rentals
Park South is an affordable neighborhood in Albany with an average rent price of $1,607. Compare this to the city average of $1,505. In the past year, rent prices have increased by 0.9%. Park South provides easy access to Delaware Plaza, Albany International, and City Square Plaza. It’s a walkable neighborhood with a WalkScore® of 88.
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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.