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City Report · NY

Albany

Pop. 100,492·92nd most expensive in New York·Rental market data updated monthly for Albany, NY
Median rent (all units)
$1,611/mo
Year-over-Year
+2.8%
Month-over-Month
-1.2%
vs US Median
-$354
Falling (Monthly)
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Most AffordableMost Expensive
Albany · $1,611
More affordable than 69% of US cities · National median $1,965/mo
Rent Reality Score
52/100
Fairly priced
OverheatedFairGreat value

Rents are right about where Albany's 10-year trend predicts.

Actual rent
$1,611/mo
Expected by trend
$1,626/mo
The Rent Reality Score compares today's median rent to where Albany's own long-run trajectory projects it should be. See the full rankings →
Medians by bedroom

Rent by unit size

Studio
$1,076
1 BR
$1,234
2 BR
$1,491
3 BR
$1,795
4 BR+
$1,978
Research median
$1,491/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$19,332/yr
At $1,611/mo median
Rent Market Meter
Balanced Market
Renter's MarketBalancedLandlord's Market
Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.
Based on rent-price momentum (+2.8% YoY, -1.2% MoM), not inventory.
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Demographics

Who lives here

Albany, NY is majority renter-occupied, skews toward younger working-age adults, has a median income below the national average, 45.3% of residents hold a bachelor's degree or higher.

Population
100,492
Median income
$61,986
Median age
32
Renters
61.8%
Age distribution
13.9%
40.5%
21.7%
14%
Under 1813.9%
18–3440.5%
35–5421.7%
55–649.9%
65+14%
Gender
48.2%
51.8%
Male48.2%
Female51.8%
Race & ethnicity
51.7%
26%
White51.7%
Black26%
Hispanic11%
Asian8.2%
Other3.2%
Education (25+)
21.1%
24.8%
45.3%
No HS diploma8.7%
HS diploma21.1%
Some college24.8%
Bachelor's+45.3%
Housing tenure
38.2%
61.8%
Owner38.2%
Renter61.8%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Albany, NY has changed in 5 years

Rent
$1,283 → $1,611
up 25.6%
Income
$52,583 → $61,986
up 17.9%
Population
99,402 → 100,492
up 1.1%
Renter share
61.9% → 61.8%
-0.1 pts
Bachelor's+
44.1% → 45.3%
+1.2 pts

Five years ago, renters in Albany, NY paid around $1,283 a month. That figure now sits near $1,611, up 25.6% from the 2021 baseline. Census figures show median household income at $61,986 today, compared with $52,583 five years earlier. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show Albany, NY adding about 1,090 residents over the five-year window, up 1.1% on net. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.

Community

Discussions about Albany

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View Albany rent history (2015–2026) →
Salary vs rent

Can you afford rent in Albany on your salary?

At $1,611/mo, how Albany rent compares to typical pay (30% rule).

By apartment size

Albany rent by bedroom count

Median rent for each apartment size in Albany. Click any size for full breakdown.

Local insights

Tips for renters in Albany

About renting in Albany, NY

Last updated: July 20, 2026

The median rent in Albany is $1,611/mo as of July 2026. A studio apartment averages $1,076/mo while a 2-bedroom runs $1,491/mo. One-bedroom apartments average $1,234/mo and 3-bedroom units go for $1,795/mo.

At 31% of local median household income ($61,986/yr), Albany ranks as moderate compared to the national benchmark of 30%. Rents have increased 2.8% over the past year.

FAQ

Frequently asked questions

Is Albany an affordable city for renters?

Albany is considered moderate for renters. At $1,611/mo, rent takes approximately 31% of the local median household income ($61,986/yr). The standard benchmark is 30%. Albany slightly exceeds that threshold, so budgeting carefully matters here.

How much income do you need to rent in Albany?

To keep rent at or below 30% of gross income, you would need to earn at least $64,000/year (~$31/hour full-time) to afford the median rent of $1,611/mo in Albany. The local median household income is $61,986/yr, meaning the typical Albany household falls short of that threshold.

Is rent going up or down in Albany?

Rent in Albany has increased 2.8% over the past year as of July 2026, putting upward pressure on renter budgets.

Which Albany neighborhoods have the lowest rent?

The most affordable ZIP codes in Albany are 12202 ($1,311/mo), 12210 ($1,471/mo), and 12208 ($1,587/mo). Citywide, the median rent in Albany is $1,611/mo.

How does Albany rent compare to other cities in New York?

Albany is one of the more affordable cities in New York for rent, ranking #92 out of 126 tracked cities at $1,611/mo.

Which nearby cities are cheaper to rent in than Albany?

Watervliet is nearby and more affordable at $1,471/mo, which is $140 less than Albany.

What percentage of Albany residents rent vs. own?

According to Census data, approximately 61.8% of Albany households are renters, while 38.2% are owner-occupied. With a majority renter population, Albany has a strong rental market.

How does Albany rent compare to the national average?

Albany's median rent of $1,611/mo is $354 (18%) below the US national median of $1,965/mo. Within New York, it ranks #92 out of 126 tracked cities.
Income Affordability
31%
MODERATE

At $1,611/mo, rent takes ~31% of Albany's median household income ($61,986/yr). The standard benchmark is 30%.

Albany 31%Benchmark 30%
State income tax4–10.9%
Run the Albany affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Albany, NY

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