Low Income Apartments and Affordable Housing For Rent in Albany, NY

Discover affordable housing in Albany where there are 52+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Livingston School Apartments

315 Northern Blvd, Albany, New York 12210

Skyline Gardens Apartments

123 Livingston Ave., E7, Albany, New York 12207

Clinton Avenue Apartments

269 Clinton Ave, Albany, New York 12207

Robinson Square Apartments

325 Hamilton St, Albany, New York 12210

Cohoes Falls Apartments

80 State St, Albany, New York 12207

Thurlow Terrace

2 Thurlow Ter, Albany, New York 12203

South End Phase II

30 Morton Ave, Albany, New York 12202

Ezra Prentice Homes

625 S Pearl St, Albany, New York 12204

North Albany Homes

10 Tubman Cir, Albany, New York 12204

Westview Apartments

680 Central Ave, Albany, New York 12206

Mansion Initiative

109 Grand St, Albany, New York 12202

Central Towers Apartments

400 Central Ave, Albany, New York 12206

Knox Street Apartments

137 Knox St, Albany, New York 12208

Eagle Court Apartments

102 Morton Ave, Albany, New York 12202

Swan Street

50 N Swan St, Albany, New York 12210

Ohav Sholom Apartments

115 New Krumkill Rd, Albany, New York 12208

Ida Yarbrough Homes

260 N Pearl St, Albany, New York 12207

Station 25

25 Delaware Ave , Albany, New York 12210

Townsend Park Homes

45 Central Ave, Albany, New York 12206

Arbor Hill Homes

70 Lark St, Albany, New York 12210

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Albany, New York
$26.02/hour
$11.02 (+73%) more than New York minimum wage and $18.77 (+259%) more than the Federal minimum wage.
Learn More About Albany, New York Affordable Housing ↓

What HUD offices serve Albany, New York?

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Operates the Section 8 Housing Choice Voucher (HCV), Public Housing programs for Albany, New York.

Go to the New York Public Housing and Low-Income Apartments Waiting Lists page for openings near Albany.

How many renters live in Albany, New York?

The City of Albany has 100,832 people living in 43,179 households.

There are 53,989 renters living in 28,843 renter households in this City. Renters make up 53.54 percent of the population living in Albany.

What is the rental market like in Albany, New York?

There are an estimated 50,378 housing units in the Albany area. Of these, 29,724 units are rental homes, making up 59 percent of the housing market. For every renter household in Albany, New York, there are 1 rental units.

What is the vacancy rate for rentals in Albany?

The rental vacancy rate in Albany is 6 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.

How many rental units are in Albany for each bedroom size?

Occupied Rental Units by Size in Albany
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
863 10,489 8,253 7,896 1,152
Occupied Rental Units by Size in Albany

A large number of apartments in Albany have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How many renter households in Albany are overburdened by housing costs?

Among renter households in this market, 56 percent have housing cost burden. Further, 39 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.

The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.

How Much Is Rent in Albany

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,011 to $1,830. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,011
One BR $1,131
Two BR $1,374
Three BR $1,661
Four BR $1,830
2024 Fair Market Rents in Albany, New York

How many units are rented at Fair Market Rent (FMR) in Albany?

Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.

These are the approximate number of units renting below the FMR in this market:

Unit Size Count of Units Below FMR Percentage of Total Units Below FMR
Studio 619 72 percent
One BR 7,922 76 percent
Two BR 5,925 72 percent
Rental Units Below FMR in Albany, New York

How many affordable rental units are in Albany?

There are a variety of federal affordable housing programs serving households in Albany, New York including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 2,499
Public Housing 1,393
Section 8 Project-Based Rental Assistance 1,013
Section 202 Supportive Housing for the Elderly 23
Section 811 Supportive Housing for Persons with Disabilities 28
Tracked Units by Federal Program in Albany, New York

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Albany, New York

Albany features 2,980 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.

Low Rent Apartments in Albany, New York

There are 1,504 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Albany.

Housing Choice Vouchers in Albany, New York

On average, Section 8 Housing Choice vouchers pay Albany landlords $600 per month towards rent. The average voucher holder contributes $400 towards rent in Albany.

The maximum amount a voucher would pay on behalf of a low-income tenant in Albany, New York for a two-bedroom apartment is between $1,237 and $1,511.

Sourced from federal housing data and AffordableHousingOnline.com research.