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Affordable Housing In Albany
Albany County, New York

47 Low Income Apartment Communities In Albany

Livingston School Apartments

315 Northern Blvd
Albany, New York
$620-940
Studio-2 BR
55+

Westview Apartments

680 Central Ave
Albany, New York
Call For Rent
Studio-1 BR
Accessible
62+

Skyline Gardens Apartments

123 Livingston Ave., E7
Albany, New York
Call For Rent
1-3 BR
Subsidized

North Albany Homes

10 Tubman Cir
Albany, New York
Call For Rent
1-4 BR
Family & Senior

Ezra Prentice Homes

625 S Pearl St
Albany, New York
Call For Rent
1-4 BR
Family & Senior

South End Phase II

30 Morton Ave
Albany, New York
Call For Rent
1-2 BR
Family & Senior

Steamboat Square

200 Green St
Albany, New York
Call For Rent
Studio-2 BR
Family & Senior

Robert Whalen Homes

275 Colonie St
Albany, New York
Family & Senior

Ida Yarbrough Homes

260 N Pearl St
Albany, New York
Family & Senior

Nutgrove Garden Apartments

602 Nutgrove Ln
Albany, New York
Family & Senior

Housing Authorities that serve Albany

Housing Authority Programs
Albany Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Albany, New York

There are 47 low income housing apartment communities offering 4,115 affordable apartments for rent in Albany, New York.

Income Based Apartments in Albany, New York

Albany features 2,973 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 1,142 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 $1,005 and $1,229.

2021 Albany, New York Fair Market Rents and Housing Choice Voucher Payment Standards

Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.

Studio One BR Two BR Three BR Four BR
Fair Market Rent $809 $912 $1,117 $1,389 $1,515
Payment Standard Range $728 to $890 $821 to $1,003 $1,005 to $1,229 $1,250 to $1,528 $1,364 to $1,667

Sourced from federal housing data and AffordableHousingOnline.com research.

Albany, NY Affordable Housing Snapshot

Total Affordable Apartment Properties 47
Total Low Income Apartments 4,115
Total Housing Units with Rental Assistance 2,973
Percentage of Housing Units Occupied By Renters 62.53%
Average Renter Household Size 2.09
Average Household Size 2.19
Median Household Income $40,949 ±$1,493
Median Rent $857 ±$16
Percentage Of Renters Overburdened 52.04% ± 2.6pp
Total Population 98,468

Population and Household Demographics

Albany is a city in Albany County, New York with a population of 98,468. There are 40,283 households in the city with an average household size of 2.19 persons. 62.53% of households in Albany are renters.

Income and Rent Overburden in Albany

The median gross income for households in Albany is $40,949 a year, or $3,412 a month. The median rent for the city is $857 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Albany, a household making less than $2,857 a month would be considered overburdened when renting an apartment at or above the median rent. 52.04% of households who rent are overburdened in Albany.

Area Median Income In Albany

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Albany, the AMI is calculated from all households within Albany County.

In Albany, HUD calculates the Area Median Income for a family of four as $99,200

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Albany

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for HUD Rental Assistance in Albany

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $20,400 $23,300 $26,200 $29,100 $31,450 $35,160 $39,640 $44,120
50% of Median $33,950 $38,800 $43,650 $48,500 $52,400 $56,300 $60,150 $64,050
80% of Median $54,350 $62,100 $69,850 $77,600 $83,850 $90,050 $96,250 $102,450