Rents are 8% below what Albany's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $985 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
Rent in Albany is 0.1% below its high of $986 in March 2026, at $985 as of September 2026.
Rent in Albany changed +4.2% over the year to September 2026. Across the 115 Georgia cities Zillow tracks, the typical change was +2.3%.
From 2019 to 2024, rent in Albany rose 50.2% while median household income rose 29% ($36,615 to $47,240). Rent outpaced income.
Rent in Albany is 53.7% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 3 months in a row, and rose in 9 of the last 12 months.
30% of the median household income ($47,240) is $1,181 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,120); a 3-bedroom is $1,513.
The priciest of 4 ZIP codes in Albany, 31721 ($1,425/mo), costs 1.8 times the cheapest, 31701 ($788/mo).
From Zillow's monthly rent index (ZORI) for Albany. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Albany, GA is majority renter-occupied, has a median income below the national average, 21.4% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Albany, GA has changed in 5 years
Rent in Albany, GA has climbed 38.7% since 2021, going from about $710 per month to roughly $985 today. Household income in the area moved from $40,036 to $47,240 across the same window, up 18.0% versus 2021. Rent outpaced income growth by roughly 20.7 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 70,748 to 67,224 between 2021 and 2024, a 5.0% change. About 62.3% of households rent today, against 59.4% in 2021. Reading these numbers side by side helps frame whether current listings in Albany, GA look reasonable against where the market sat half a decade ago.
Discussions about Albany
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Can you afford rent in Albany on your salary?
At $985/mo, how Albany rent compares to typical pay (30% rule).
Albany rent by bedroom count
Median rent for each apartment size in Albany. Click any size for full breakdown.
Tips for renters in Albany
Last updated: October 17, 2026
The median rent in Albany is $985/mo as of October 2026. A studio apartment averages $958/mo while a 2-bedroom runs $1,120/mo. One-bedroom apartments average $988/mo and 3-bedroom units go for $1,513/mo.
At 25% of local median household income ($47,240/yr), Albany ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.2% over the past year.
Frequently asked questions
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Has rent outpaced income in Albany?
Which Albany neighborhoods have the lowest rent?
How does Albany rent compare to other cities in Georgia?
Which nearby cities are cheaper to rent in than Albany?
At $985/mo, rent takes ~25% of Albany's median household income ($47,240/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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