Albany, NY Rental Market
Albany is the capital of New York State and the hub of one of the most stable rental markets in upstate NY. State government employment — tens of thousands of workers across dozens of agencies — provides a recession-resistant tenant base, supplemented by the SUNY system (SUNY Albany is a major research university), Albany Medical Center, and a growing tech corridor near the GlobalFoundries chip fabrication campus in nearby Malta. Albany's college-town character and government stability make it a dependable market for long-term landlords.
Get a rent estimate for an address in AlbanyAverage Rent in Albany, NY
$1,200
per month · 2026-06
Market Score
Key Facts — Albany, NY Rental Market
- Average rent in Albany, NY:$1,200/mo
- Median rent:$1,104/mo
- Rent range:$600 – $2,650/mo
- Most common rental (2 bedrooms):$1,050/mo
- Active listings:420
- Avg days to lease:35 days
- Year-over-year change:+3.0%
- Median home value:$220,000
- Est. gross annual yield:6.5%
- Data as of:2026-06
Rent by Bedroom in Albany, NY
Average monthly rent for each bedroom type based on current active listings in Albany.
| Bedroom Type | Avg Rent/mo |
|---|---|
1 Bedroom | $875/mo |
2 Bedrooms | $1,050/mo |
3 Bedrooms | $1,350/mo |
4 Bedrooms | $1,650/mo |
5 Bedrooms | $1,900/mo |
Albany Rental Market Statistics
Key indicators from the current Albany, NY rental market.
420
Available now in Albany
35
From list to lease
$0.92
Average across listings
1,300 sq ft
Typical rental size
$600 – $2,650
Min to max active listings
+3.0%
Avg rent vs. prior year
Investing in Albany, NY Rental Properties
Estimated returns based on current market rents and median home values. Perform full due diligence before investing.
Median Home Value
$220,000
Typical purchase price in Albany
Est. Gross Annual Yield
6.5%
Before expenses & vacancy
Avg Monthly Income
$1,200
At average market rent
Gross yield = (avg rent × 12) ÷ median home value. Does not include expenses, financing, vacancies, or management fees. Analyze a specific property in Albany for a full cash-flow breakdown including all costs.
Albany, NY Rental Market FAQ
Common questions about renting and investing in Albany, NY.
What is the average rent in Albany, NY?
The average rent in Albany, NY is $1,200 per month as of 2026. One-bedroom apartments average $875/mo, two-bedrooms $1,050/mo, and three-bedroom homes $1,350/mo. Neighborhoods like Center Square, Washington Park, and Pine Hills command above-average rents, while areas further from downtown are more affordable.
Is Albany, NY a good place to invest in rental property?
Albany offers an estimated 6.5% gross annual yield with an unusually stable tenant base rooted in state government employment. New York State employs tens of thousands in the Albany metro, providing investors with tenants who have steady, long-term incomes. SUNY Albany's large student population adds further demand for smaller units near campus.
What drives rental demand in Albany, NY?
Albany's rental demand is primarily driven by New York State government employment — the city is home to the Governor's office, the state legislature, and dozens of major agencies. SUNY Albany (17,000+ students) generates significant off-campus housing demand. The emerging Tech Valley semiconductor corridor, anchored by GlobalFoundries in Malta, is bringing new skilled-worker demand to the Capital Region.
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