ZIP Code · NY

ZIP 12203

Part of Albany, NY

Pop. 30,771·Albany County·249th most expensive ZIP in New York

Median rent (all units)

$1,769/mo

Year-over-Year

+4.2%

Month-over-Month

+0.5%

vs US Median

-$163

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 12203 · $1,769

More affordable than 53% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,360

1 BR

$1,580

2 BR

$1,900

3 BR

$2,280

4 BR+

$2,520

Research median

$1,900/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: October 17, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 12203 is at its highest level since Zillow's records here began in November 2021.

Past year vs. the rest of New York

Rent in ZIP 12203 changed +4.2% over the year to September 2026. Across the 251 New York ZIP codes Zillow tracks, the typical change was +5.6%.

Recent direction

Rent has risen 7 months in a row, and rose in 9 of the last 12 months.

What a typical income covers

30% of the median household income ($83,147) is $2,079 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,900); a 3-bedroom is $2,280.

Rank in Albany

5th cheapest of 8 ZIP codes in Albany.

Cheaper nearby

ZIP 12210, 5 miles away, rents for 17% less ($1,474/mo), about $3,500 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 12203. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$21,228/yr

At $1,769/mo median

Location

CityAlbany

StateNY

CountyAlbany County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (4.2% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+4.2% YoY, +0.5% MoM), not inventory.

Demographics

Who lives here

ZIP 12203 (Albany, NY) is roughly split between renters and owners, skews toward younger working-age adults, 56.9% of residents hold a bachelor's degree or higher.

Population

30,771

Median income

$83,147

Median age

34.5

Renters

50.5%

Age distribution

13.1%

37.5%

19.4%

12.7%

17.4%

Under 1813.1%

18–3437.5%

35–5419.4%

55–6412.7%

65+17.4%

Gender

47.9%

52.1%

Male47.9%

Female52.1%

Race & ethnicity

67.6%

White67.6%

Black11.5%

Hispanic8.4%

Asian8.3%

Other4.3%

Education (25+)

16.8%

22.5%

56.9%

No HS diploma3.8%

HS diploma16.8%

Some college22.5%

Bachelor's+56.9%

Housing tenure

49.5%

50.5%

Owner49.5%

Renter50.5%

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

2022 vs 2026

How ZIP 12203 in Albany, NY has changed in 5 years

Rent

$1,434 → $1,769

up 23.4%

Income

$71,001 → $83,147

up 17.1%

Population

30,470 → 30,771

up 1.0%

Renter share

49.9% → 50.5%

+0.6 pts

Bachelor's+

54.1% → 56.9%

+2.8 pts

Median age

35.4 → 34.5

-0.9 yrs

Since 2022, the typical rent in ZIP 12203 in Albany, NY has climbed from $1,434 to $1,769, a 23.4% change over five years. Median household income rose from $71,001 to $83,147 between 2021 and 2024, a 17.1% shift. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has grown by 1.0% since 2021, moving from about 30,470 residents to roughly 30,771. College-educated residents now make up 56.9% of adults here, versus 54.1% in 2021. Taken together, the five-year picture in ZIP 12203 in Albany, NY reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

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About renting in ZIP 12203

Last updated: October 17, 2026

ZIP code 12203 covers Albany, NY. The median rent here is $1,769/mo as of October 2026. A 1-bedroom rents for a median of $1,580/mo. A 2-bedroom rents for a median of $1,900/mo.

At 26% of local median household income ($83,147/yr), ZIP 12203 ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.2% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 12203?

To keep rent at or below 30% of gross income, you would need to earn at least $71,000/year (about $34/hour full-time) to afford the median rent of $1,769/mo in ZIP 12203. The local median household income is $83,147/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 12203?

Rent in ZIP 12203 has risen 4.2% over the past year as of September 2026. That is the highest level since Zillow's records here began in November 2021.

How does ZIP 12203 compare to other ZIPs in New York?

ZIP 12203 is one of the more affordable among New York ZIP codes for rent, ranking #249 of 334 at $1,769/mo. Over the year to September 2026, rent in ZIP 12203 changed +4.2%, against a typical +5.6% across the 251 New York ZIP codes Zillow tracks.