10 Most Affordable Albany Suburbs to Live in 2024

Albany is one of the many charming upstate New York towns offering a picturesque escape from the hustle and bustle of New York City. There are countless things to do in the area whether you visit the New York State Capitol, see a show at The Egg, and explore the Albany Institute of History & Art. No wonder 98,600 people are living in Albany. 

If you’re looking to buy a home in Albany, expect to see the median home sale price coming in at $250,000. And if you’re considering renting an apartment in Albany, the average rent price is $1,375. Don’t worry if those prices don’t fit in your budget – we’ve got options to help you find a home or apartment that does.

At Redfin, we’ve collected the 10 most affordable suburbs of Albany, NY, to consider moving to. And the best part is that they’re all less than 20 miles away from the city center. No matter where you move, you’ll still be close enough to Albany to explore all the city has to offer without the price of living there. 

#1: Troy

Median home price: $208,500 
Average sale price per square foot: $126 
Average rent for an apartment: $1,250
Distance from Albany: 8 miles
Troy, NY homes for sale 
Troy, NY apartments for rent

With a median home sale price of $208,500, Troy takes the number one spot on our list of affordable suburbs of Albany, NY. Just about a 15 minute drive away from Albany, you won’t miss out on what the city has to offer. If you’re considering moving to Troy, make sure to visit Prospect Park which has picturesque views of the area, explore the charming downtown where there are local shops and restaurants, and check out the Troy Waterfront Farmers Market.

#2: Cohoes

Median home price: $214,000 
Average sale price per square foot: $130 
Average rent for an apartment: $1,554 
Distance from Albany: 10 miles
Cohoes, NY homes for sale
Cohoes, NY apartments for rent 

Just a little more expensive than Troy is Cohoes. About a 10 mile drive away from downtown Albany, you can explore the Albany Institute of History & Art in no time. Some popular things to do in Cohoes include exploring downtown Cohoes where you’ll find cafes and views of the Mohawk River, watch a show at Cohoes Music Hall, and stroll along the Alexander Street Trail Head.

#3: Watervliet

Median home price: $214,800 
Average sale price per square foot: $86 
Average rent for an apartment: $1,331 
Distance from Albany: 8 miles
Watervliet, NY homes for sale 
Watervliet, NY apartments for rent 

Just 8 miles away, you’ll find the suburb of Watervliet. From parks and outdoor recreation to supporting local businesses, there’s lots of things that make Watervliet a great place to live. If you find yourself moving here, make sure to spend the morning biking along the Mohawk-Hudson Bike Trail, explore downtown Watervliet, and visit Hudson Shores Park along the riverfront. 

#4: Schenectady

Median home price: $222,500 
Average sale price per square foot: $130 
Average rent for an apartment: $1,409 
Distance from Albany: 19 miles
Schenectady, NY homes for sale 
Schenectady, NY apartments for rent 

A little more expensive than Watervliet is the suburb of Schenectady. About 67,000 people live in this Albany suburb, where you can explore Central Park where you’ll find plenty of trails, sports fields, and picnic areas, watch live performances and concerts, at Proctors Theatre, and check out the exhibits at Museum of Innovation and Science (miSci).

#5: Rensselaer

Median home price: $233,500 
Average sale price per square foot: $157 
Average rent for an apartment: $1,519 
Distance from Albany: 2 miles
Rensselaer, NY homes for sale 
Rensselaer, NY apartments for rent 

About a 5 minute drive into the city, consider adding Rensselaer to your list of Albany suburbs to consider living in this year. Home to 9,200 residents, this affordable town can be a great choice for people looking to remain close to Albany without paying the price for a home in the city. Living in Rensselaer, you can visit the Crailo State Historic Site and explore the charming downtown area.

#6: Coeymans

Median home price: $247,500 
Average sale price per square foot: $115 
Distance from Albany: 16 miles
Coeymans, NY homes for sale 
Coeymans, NY apartments for rent 

Another noteworthy Albany suburb is Coeymans. With roughly 7,300 people calling Coeymans home, it’s a great area to consider renting or buying a home in. There are countless things to do in this great suburb. Make sure to stop by the Coeymans-Bronck Stone House, explore the Hannacroix Creek Preserve, and take a fishing charter out on the Hudson River.

#7: Roessleville

Median home price: $267,500 
Average sale price per square foot: $188 
Distance from Albany: 4 miles
Roessleville, NY homes for sale 
Roessleville, NY apartments for rent 

Coming in seventh place on our list of affordable suburbs of Albany, NY, is Roessleville, which is about a 4 mile drive into downtown. With a population of nearly 11,500, Roessleville is a great area to live in that’s not nearly as big as Albany. If you’re going to call this suburb home, plan time to check out the expansive Six Mile Waterworks Park, where you’ll find fishing areas, trails, and picnic spots.

#8: Westmere

Median home price: $270,000 
Average sale price per square foot: $198 
Distance from Albany: 10 miles
Westmere, NY homes for sale 
Westmere, NY apartments for rent 

If you’ve lived in Albany for a while, it’s likely you know of Westmere. Nearly 7,600 residents call this affordable suburb home, so you’ll have a fraction of Albany’s population while remaining only 10 miles from the city. Be sure to grab a meal at one of the local restaurants once living in Westmere. 

#9: Hampton Manor

Median home price: $285,000 
Average sale price per square foot: $230 
Distance from Albany: 3 miles
Hampton Manor, NY homes for sale 
Hampton Manor, NY apartments for rent 

Moving to Hampton Manor will give you access to downtown Albany in under 10 minutes – as long as you don’t end up in traffic. Roughly 5,400 people live in this suburb, but you’ll be surrounded by quaint suburbs to explore in your free time. Fun activities to do in Hampton Manor include checking out David Onderdonk Jr Memorial Park.

#10: Colonie

Median home price: $295,000 
Average sale price per square foot: $215 
Average rent for an apartment: $2,325 
Distance from Albany: 10 miles
Colonie, NY homes for sale
Colonie, NY apartments for rent 

Last but not least on our list of affordable suburbs of Albany, NY, is Colonie. Without traffic, you’ll find yourself in Albany in roughly 15 minutes. This suburb has a population of 85,600 and you can explore Albany Pine Bush Preserve where you can walk along the trails or watch the wildlife. There’s plenty to do on an afternoon or weekend while living in this awesome suburb.

Methodology: Affordability is based on whether a suburb’s median home sale price or average sale price per square foot is less than Albany and under a 20-mile drive from downtown Albany. Median home sale price data and average rent price from the Redfin Data Center during December 2023. Population data sourced from the United States Census Bureau.

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