Best Affordable Neighborhoods in Albany, NY
Some of the cheapest neighborhoods in Albany are Beverwyck, Sheridan Hollow, and Center Square. These neighborhoods offer some of the lowest rent prices in Albany, making them ideal for renters on a budget. As of February 3, 2026, the average rent in Albany is $1,543, which is 2.1% 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.
Beverwyck
Average Rent
$1,146/Month
TransitScore® Rating
60/100
Units Available
12 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.
Sheridan Hollow
Average Rent
$1,368/Month
TransitScore® Rating
71/100
Units Available
25 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.
Center Square
Average Rent
$1,416/Month
Year-Over-Year Rent Change
3.2%
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.
Capitol Hill
Average Rent
$1,465/Month
Year-Over-Year Rent Change
1.9%
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 $1,465, while the city’s average stands at $1,543. In the last year, prices have increased by 1.9%. Capitol Hill is near Mt Hope Commons At Albany, Hudson River Valley National Heritage Area, and The Sage Colleges, Albany.
Pine Hills
Average Rent
$1,484/Month
Year-Over-Year Rent Change
4.3%
TransitScore® Rating
58/100
Units Available
15 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
$1,508/Month
TransitScore® Rating
57/100
Units Available
10 Rentals
Burt Farm is a top choice for budget-conscious renters for a variety of reasons. The average rent in Burt Farm is $1,508 while the city average is $1,543. Residents enjoy convenient access to Children's Museum of Science & Technology, Hudson River Valley National Heritage Area, and Delaware Plaza. The neighborhood is considered walkable with a WalkScore® of 84.
Arbor Hill
Average Rent
$1,528/Month
Year-Over-Year Rent Change
1%
TransitScore® Rating
64/100
Units Available
57 Rentals
When you’re looking for a great Albany neighborhood on a budget, check out Arbor Hill. The average rent is $1,528, compared to the city average of $1,543. Rent prices have increased by 1%. Arbor Hill is convenient to City Square Plaza, Delaware Plaza, and Hudson River Valley National Heritage Area. The community is somewhat walkable with a WalkScore® of 66.
Downtown Albany Historic District
Average Rent
$1,550/Month
Year-Over-Year Rent Change
0.4%
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.
Washington Park
Average Rent
$1,600/Month
Year-Over-Year Rent Change
0.4%
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.
Downtown Albany
Average Rent
$1,603/Month
Year-Over-Year Rent Change
1.7%
TransitScore® Rating
62/100
Units Available
221 Rentals
Downtown Albany is an affordable neighborhood in Albany with an average rent price of $1,603. Compare this to the city average of $1,543. In the past year, rent prices have increased by 1.7%. Downtown Albany provides easy access to The College of Saint Rose, Albany Law School, and Children's Museum of Science & Technology. It’s a walkable neighborhood with a WalkScore® of 84.
Ready to make your move to Albany? Check out the rent specials, price drops, and great deals on ApartmentFinder.com!
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.