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

Discover affordable housing in Albany where there are 16+ 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.

Santiam Terrace Apartments

855 Chicago St SE, Albany, Oregon 97322

Hillhouse Apartments

1900 Hill St SE, Albany, Oregon 97322

Millwood Manor Apartments

2550 14th Ave SE # 14, Albany, Oregon 97322

Sunset Village

333 NW Hickory St, Albany, Oregon 97321

Oak Plaza

1265 Salem Ave SE, Albany, Oregon 97321

River View Place Apartments

635 3rd Ave SW, Albany, Oregon 97321

Clayton Meadows Senior Apartments

2080 Queen Ave SW, Albany, Oregon 97322

Songbird Village

215 21st St SE, Albany, Oregon 97322

Brooklawn Apartments

2070 Queen Ave SW, Albany, Oregon 97321

Periwinkle Place

2300 Queen Ave SE, Albany, Oregon 97322

Mitchell Place

1921 Waverly Dr SE, Albany, Oregon 97322

Cottage Creek

1460 6th Ave SE, Albany, Oregon 97321

Park Rose

6th Ave and Burkhart St, Albany, Oregon 97321

30th Place Duplex

204 30th Pl SE, Albany, Oregon 97322

Triplex

337 27th Ave SE, Albany, Oregon 97322

Denver Street Duplex

411 Denver St SE, Albany, Oregon 97321

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Albany, Oregon
$26.21/hour
$13.01 (+99%) more than Oregon minimum wage and $18.96 (+262%) more than the Federal minimum wage.
Learn More About Albany, Oregon Affordable Housing ↓

How many renters live in Albany, Oregon?

The City of Albany has 56,348 people living in 21,484 households.

There are 20,177 renters living in 8,554 renter households in this City. Renters make up 35.81 percent of the population living in Albany.

What is the rental market like in Albany, Oregon?

There are an estimated 22,357 housing units in the Albany area. Of these, 8,850 units are rental homes, making up 40 percent of the housing market. For every renter household in Albany, Oregon, there are 1 rental units.

What is the vacancy rate for rentals in Albany?

The rental vacancy rate in Albany is 3 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
489 1,738 4,160 1,922 216
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, 50 percent have housing cost burden. Further, 24 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 $1,192 to $2,495. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,192
One BR $1,236
Two BR $1,570
Three BR $2,212
Four BR $2,495
2024 Fair Market Rents in Albany, Oregon

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 341 70 percent
One BR 1,044 60 percent
Two BR 2,788 67 percent
Rental Units Below FMR in Albany, Oregon

How many affordable rental units are in Albany?

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

Federal Program Unit Count
Low Income Housing Tax Credit 297
Section 8 Project-Based Rental Assistance 156
Tracked Units by Federal Program in Albany, Oregon

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

Income Based Apartments in Albany, Oregon

Albany features 162 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, Oregon

There are 338 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Albany.

Housing Choice Vouchers in Albany, Oregon

On average, Section 8 Housing Choice vouchers pay Albany landlords $500 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, Oregon for a two-bedroom apartment is between $1,246 and $1,522.

Sourced from federal housing data and AffordableHousingOnline.com research.