; Low Income Apartments For Rent in Albany, NY

Livingston School Apartments

315 Northern Blvd
Albany, New York
Rent Assisted
HOME
LIHTC
$620-940
Studio-2 BR

Skyline Gardens Apartments

123 Livingston Ave., E7
Albany, New York
Subsidized
Rent Assisted
S236
LIHTC
RAD
1 BR

Robinson Square Apartments

325 Hamilton St
Albany, New York
Subsidized
PBRA
BMIR
Call For Rent
1-4 BR

Clinton Avenue Apartments

269 Clinton Ave
Albany, New York
Rent Assisted
LIHTC

Pastures Mansions

68 Westerlo St
Albany, New York
Subsidized
Rent Assisted
PBRA
LIHTC
Call For Rent
1-4 BR

Cohoes Falls Apartments

80 State St
Albany, New York
Subsidized
PBRA
BMIR

South End Phase II

30 Morton Ave
Albany, New York
Subsidized
Public Housing
Call For Rent
1-2 BR

Ezra Prentice Homes

625 S Pearl St
Albany, New York
Subsidized
Public Housing
Call For Rent
1-4 BR

North Albany Homes

10 Tubman Cir
Albany, New York
Subsidized
Public Housing
Call For Rent
1-4 BR

Westview Apartments

680 Central Ave
Albany, New York
Subsidized
Public Housing
Call For Rent
Studio-1 BR

263 Western Ave

263 Western Ave
Albany, New York
$1,800
4 BR

1 Kent St Unit 2

1 Kent St
Albany, New York
$1,820
4 BR

132 Grand St Unit 2nd floor (Apt 2)

132 Grand St
Albany, New York
$1,350
2 BR

529 Clinton Ave Unit 529 Clinton Ave- Floor 1

529 Clinton Ave
Albany, New York
$1,650
3 BR

15 Summit Ave Unit #2

15 Summit Ave Unit #2
Albany, New York
$650
1 BR
Showing Results 1-15

There are 1,667 low-income apartments in Albany that offer reduced rents to eligible households. Low-income rents in Albany, New York can range from $620 to $940 depending on the number of bedrooms.

Rental assistance programs support 3,345 low-income homes in Albany where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $393 towards rent each month.

Affordable rent data for some communities last confirmed on July 2nd, 2024. Subdsidized rents typically change once a year based on federal guidance.

Public Housing Agencies Serving 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.

Housing Authority Programs
Albany Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing
Go to the New York Public Housing and Low-Income Apartments Waiting Lists page for openings near Albany.

Albany, New York Affordable Housing Data

Income Based Apartments in Albany, New York

Albany features 3,345 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 1,667 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.

2024 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
Albany, New York Fair Market Rent $1,011 $1,131 $1,374 $1,661 $1,830
Albany, New York Payment Standard Range $910 to $1,112 $1,018 to $1,244 $1,237 to $1,511 $1,495 to $1,827 $1,647 to $2,013

Sourced from federal housing data and AffordableHousingOnline.com research.

Albany, NY Affordable Housing Snapshot

Total Affordable Apartment Properties 106
Total Low Income Apartments 5,086
Total Housing Units with Rental Assistance 3,345
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 $113,300

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

1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% AMI Income Limits
Renters earning up to 30% of the Albany AMI may qualify for rental assistance programs that target Extremely Low Income households.
$23,600 $26,950 $30,300 $33,650 $36,350 $40,280 $45,420 $50,560
50% AMI Income Limits
Renters earning up to 50% of the Albany AMI may qualify for rental assistance programs that target Very Low Income households.
$39,300 $44,900 $50,500 $56,100 $60,600 $65,100 $69,600 $74,100
80% AMI Income Limits
Renters earning up to 80% of the Albany AMI may qualify for rental assistance programs that target Low Income households.
$62,850 $71,800 $80,800 $89,750 $96,950 $104,150 $111,300 $118,500