Most Affordable Neighborhoods in Albany, NY
Some of the cheapest neighborhoods in Albany are West Hill, Beverwyck, and Pine Hills. These neighborhoods offer some of the lowest rent prices in Albany, making them ideal for renters on a budget. As of March 25, 2025, the average rent in Albany is $1,487, which is 1.6% 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.
West Hill
Average Rent
$1,097/Month
Year-Over-Year Rent Change
0.8%
TransitScore® Rating
58/100
Units Available
7 Rentals
West Hill is a diverse, community-centric neighborhood that gives renters a small town feel with the excitement of New York living. The Tivoli Lake Preserve provides the perfect getaway for nature lovers, and Bleecker Stadium enhances the community through youth and adult sports leagues.
Beverwyck
Average Rent
$1,229/Month
TransitScore® Rating
60/100
Units Available
7 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.
Pine Hills
Average Rent
$1,313/Month
Year-Over-Year Rent Change
1.2%
TransitScore® Rating
58/100
Units Available
11 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.
Sheridan Hollow
Average Rent
$1,342/Month
Year-Over-Year Rent Change
4.5%
TransitScore® Rating
71/100
Units Available
32 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.
Normanskill/Kenwood
Average Rent
$1,406/Month
Year-Over-Year Rent Change
2.1%
TransitScore® Rating
39/100
Units Available
8 Rentals
Normanskill/Kenwood is a scenic neighborhood surrounded by greenery. Residents enjoy access to parks, hiking trails, and the Normans Kill Creek. Easy access to Downtown Albany makes this area perfect for nature lovers seeking a suburban living with city conveniences.
Downtown Albany Historic District
Average Rent
$1,497/Month
Year-Over-Year Rent Change
1.2%
TransitScore® Rating
71/100
Units Available
45 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.
Arbor Hill
Average Rent
$1,519/Month
Year-Over-Year Rent Change
7.1%
TransitScore® Rating
64/100
Units Available
40 Rentals
Arbor Hill is a top choice for budget-conscious renters for a variety of reasons. The average rent in Arbor Hill is $1,519 while the city average is $1,487. This is a 7.1% difference from last year. Residents enjoy convenient access to Albany International, New York State Museum, and Albany Medical College. The neighborhood is considered somewhat walkable with a WalkScore® of 66.
Washington Park
Average Rent
$1,519/Month
Year-Over-Year Rent Change
0.5%
TransitScore® Rating
63/100
Units Available
17 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.
Central Avenue
Average Rent
$1,531/Month
Year-Over-Year Rent Change
0.3%
TransitScore® Rating
68/100
Units Available
10 Rentals
Central Avenue is a bustling neighborhood next door to Washington Park offering shopping, dining, and public transportation. Renters will appreciate the variety of housing options and historic charm.
Center Square
Average Rent
$1,571/Month
Year-Over-Year Rent Change
3.8%
TransitScore® Rating
69/100
Units Available
11 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.
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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.