Rents are 4% 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 $1,735 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 at its highest level since Zillow's records here began in March 2022.
Rent in Albany changed +1.9% over the year to September 2026. Across the 54 Oregon cities Zillow tracks, the typical change was +1.9%.
Rent has risen 5 months in a row, and rose in 9 of the last 12 months.
30% of the median household income ($78,114) is $1,953 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,450); a 3-bedroom is $1,985.
Lebanon, 15 miles away, rents for 12% less ($1,531/mo), about $2,400 a year in savings.
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, OR is majority owner-occupied, 29.4% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Albany, OR has changed in 5 years
Five years ago, renters in Albany, OR paid around $1,495 a month. That figure now sits near $1,735, up 16.1% from the 2022 baseline. Household income in the area moved from $65,587 to $78,114 across the same window, up 19.1% versus 2021. With wages climbing faster than rent over the same window, renters here have a bit more breathing room than they did five years back. Census counts show Albany, OR adding about 1,063 residents over the five-year window, up 1.9% on net. The renter share has risen from 39% to 41.1%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 27.3% to 29.4% across the same window. Reading these numbers side by side helps frame whether current listings in Albany, OR look reasonable against where the market sat half a decade ago.
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Can you afford rent in Albany on your salary?
At $1,735/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 $1,735/mo as of October 2026. A studio apartment averages $1,045/mo while a 2-bedroom runs $1,450/mo. One-bedroom apartments average $1,185/mo and 3-bedroom units go for $1,985/mo.
At 27% of local median household income ($78,114/yr), Albany ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.9% over the past year.
Frequently asked questions
How much income do you need to rent in Albany?
Is rent going up or down in Albany?
Which Albany neighborhoods have the lowest rent?
How does Albany rent compare to other cities in Oregon?
At $1,735/mo, rent takes ~27% of Albany's median household income ($78,114/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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