Rent in Albany, NY at a glance
2-bedroom rent (HUD)
$1,702$20,424 a year · HUD fiscal year 2026From October 1, 2026: $1,711 (+0.5%)How much rent can you afford in Albany, NY?
HUD’s fair market rent for each size, against what a typical household here earns. Change the income to see yours.
Rent in Albany, NY by bedroom, and the pay it takes
Income needed keeps rent at 30% of gross pay; the hourly figure assumes one full-time job, 2,080 hours a year.
| Size | A month | A year | Income needed | Hourly wage needed |
|---|---|---|---|---|
| Studio | $1,217 | $14,604 | $48,680 | $23.40/hr |
| 1 bedroom | $1,417 | $17,004 | $56,680 | $27.25/hr |
| 2 bedroomsMost searched | $1,702 | $20,424 | $68,080 | $32.73/hr |
| 3 bedrooms | $2,041 | $24,492 | $81,640 | $39.25/hr |
| 4 bedrooms | $2,253 | $27,036 | $90,120 | $43.33/hr |
Living and working in Albany, NY
Rent in Albany, NY: common questions
How much is rent going up in Albany, NY in 2027?
HUD's Fair Market Rent for fiscal 2027, which takes effect October 1, 2026, is $1,711 for a two-bedroom, up 0.5% from $1,702. A one-bedroom goes from $1,417 to $1,425, a studio from $1,217 to $1,238.
These are HUD's estimates of what a typical recently rented unit costs, used for housing vouchers. A landlord's increase on your lease follows your lease and your state's rules, not this figure.
What is the average rent in Albany, NY?
HUD's Fair Market Rent for 2026 is $1,417 for a one-bedroom and $1,702 for a two-bedroom, utilities included. That is $20,424 a year for the two-bedroom.
It is not an average of current listings. HUD sets it at the rent 40% of recent movers paid or less for a standard unit, so asking rents on newer places usually run higher.
How much do you need to make to afford rent in Albany, NY?
To keep a $1,702 two-bedroom at 30% of gross pay, one full-time worker needs $32.73 an hour, or $68,080 a year. A one-bedroom at $1,417 takes $27.25 an hour.
How much is a 1, 2 or 3-bedroom apartment in Albany, NY?
At HUD's 2026 Fair Market Rent: studio $1,217, one bedroom $1,417, two $1,702, three $2,041 and four $2,253 a month.
Is rent affordable in Albany, NY?
For the typical household, earning $61,986 a year ($5,166 a month, Census ACS), a two-bedroom at $1,702 takes 32.9% of income. Under 30% is the usual line for affordable; this is over it.
How is the income needed for rent worked out?
Rent for a year divided by 0.30, the share of gross income HUD treats as affordable: ($1,702 × 12) ÷ 0.30 = $68,080. Divided by 2,080 working hours, that is $32.73 an hour.