The Gallery on Holland
25 Holland Ave,
Albany, NY 12209
1-2 Beds | $1,795 - $2,970
Rental Market Trends in Albany, NY
What is the average rent in Albany, NY?
$1,502/month
Average Rent
704 Sq Ft
Average Apartment Size
+2.2%
Increase in the Last Year
As of June 2025, the average rent in Albany, NY is $1,502 per month. For comparison, the national average rent price in the US is currently $1,628/month, which means Albany rent prices are 8% lower than the national average. When you rent an apartment in Albany, you can expect to pay about $1,286 per month for a studio, $1,502 for a one-bedroom apartment, and around $1,792 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,920 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Albany, NY?
In the past year, rent has increased by 2.2%, which averages out to $34 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated June 2025
Legend
2024
2025
Rent Ranges in Albany, NY
Last Updated June 2025
$1,501 - $2,000
Most rental prices fall within this range
Percentage*
Rent Range
1%
Below $700/month
14%
$700 - $1,000/month
35%
$1,001 - $1,500/month
37%
$1,501 - $2,000/month
12%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Albany?
Based on current rent prices, Center Square, Capitol Hill and Pine Hills are the most affordable neighborhoods in Albany.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Albany?
Based on current rent prices, Dunes, Fort Orange Manor and Campus Area are the most expensive neighborhoods in Albany.
Neighborhood
Average Rent
Average Sq Ft
Which Albany neighborhoods have the most rentals available?
The neighborhoods in Albany with the most apartments available are Downtown Albany, Westmere/N Bethlehem and Arbor Hill .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Albany, NY?
Because the average rent in Albany is $1,502, you’ll want to make about $5,006 per month or $60,072 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
Cost of Living
The cost of living in Albany, NY is 4.7% higher than the national average. Generally, housing in Albany is 2.4% more expensive than the national average, with rent falling between $1,286 - $1,920. You can expect to pay 3.0% more for groceries, 1.1% less for utilities, and 3.9% more for transportation.
How does Albany, NY compare to other nearby cities and neighborhoods?
Use the tool below to compare Albany, NY to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
$1,050/month
-
One Bedroom
$1,232/month
-
Two Bedroom
$1,503/month
$1,803/month
Three Bedroom
$1,558/month
-
Apartment communities in Albany we think you'll love
Property Management Companies in Albany, NY
Tri City Rentals
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42
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9,401
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Stratus Property Management
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Cole Group Realty
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14
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DHM Properties
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28
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Willow Bridge
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705
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191,765
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328
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Eagle Rock Properties
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43
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10,447
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37
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The United Group of Companies, Inc.
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21
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2,866
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18
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Berkeley Properties
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21
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3,970
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2025.
* Percentages may not total 100 due to rounding.