Albany, New York Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Albany, New York rental market.
Albany, New York
Average Apartment Rent
$1,755
Y-o-Y Change in Average
Apartment Rent
3%
As of May 2026
Compared to a year ago, Albany, New York apartments have recorded a 3% rent increase.
Albany, New York Average apartment rent trend
Albany, New York Average Apartment Rent
Albany, New York Apartment rent ranges
At 38.27%, apartments priced $1,500 - $2,000 represent the bulk of Albany, New York rentals, while condos priced Under $1,000 hold the lowest share of the market – 2.91%.
Albany, New York Housing tenure**
Renters take up 63% of Albany, New York real estate, occupying a total of 27,474 units, while homeowners live in 15,961 properties.
Median number of rooms of renter-occupied housing units**
4.1
Renter median household income**
$38,317
Average household size of renter-occupied housing units**
1.92
Rental vacancy rate**
5.7%
Albany, New York Renter-occupied housing units by no. of bedrooms**
There are 9,350 rentals in Albany, New York with 2 beds making up the highest share of the market, at 34%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 275 units. Overall, the median number of rooms in Albany, New York homes for rent is 4.1.
Albany, New York Renter-occupied units by age of householder**
Most condos for rent in Albany, New York are occupied by residents in the 25 - 34 years age group (28%), followed by those in the 35 - 44 years age group (16%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.
Albany, New York Renter-occupied housing units by family type**
Albany, New York Renter-occupied housing units by the presence of own children**
A total of 8,852 apartments for rent in Albany, New York, or 32% of all rentals are family households. Additionally, 21% of rental homes include children under the age of 18 – that’s 5,709 units. All in all, the median size of a renter-occupied household in Albany, New York is 1.92.
Albany, New York Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 40% of the rental market. In contrast, residents with less than a high school degree reside in 11% of the homes for rent in Albany, New York.
Albany, New York Renter-occupied units by year structure built**
The highest share of Albany, New York apartment rentals, namely 39% or 10,650 units, were Built 1939 or earlier, followed by those Built 1970 - 1979 (13%, 3,575 units), and the ones Built 1960 - 1969 (10%, 2,810 units).
Albany, New York Renter-occupied units by year householder moved in**
Median year renter moved into unit 2017
Most Albany, New York renters (40%) moved in 2010 to 2017, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Albany, New York condos for rent is 2017.
Albany, New York Renter-occupied housing units by vehicles available**
When it comes to transportation options, 44% of Albany, New York renters have 1 vehicle available per household, 34% of them have No vehicle available, and 17% have 2 vehicles available.
Albany, New York Means of transportation to work of householders living in renter-occupied housing units**
Albany, New York Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Albany, New York apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
