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Albany, MN Homes for Rent

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  • /19

    $1,500

    Total Monthly Price

    • 3 Beds
    • 1 Bath
    • 1,272 Sq Ft
    • House for Rent

    34890 238th Ave, Albany, MN 56307

    Your Next Place is excited to assist the owner in presenting this 3-bedroom, 1-bathroom home in Albany. Featuring over 1,200 square feet of thoughtfully designed living space, this well-maintained home offers the perfect blend of comfort and country living, just minutes from the heart of Albany. Enjoy spacious living areas, an open layout kitchen, and an abundance of natural light throughout the

    34890 238th Ave, Albany, MN 56307
  • /8

    $1,300

    Total Monthly Price

    • 2 Beds
    • 2 Baths
    • Condo for Rent

    150 4th St Unit 2, Albany, MN 56307

    150 4th St Unit 2, Albany, MN 56307

Why Live in Albany

Albany, MN, established in the 1800s, balances its historic charm with modern living amidst Central Minnesota's farmland. With a population of fewer than 3,000 residents, this former railroad community has transformed its old train tracks into a trail adjacent to downtown. Shops and restaurants line Railroad Avenue, reflecting the town's history. Albany Area School is the largest local employer, and the school district is highly regarded, with Albany Elementary School and Albany Area High School both receiving high ratings. The high school is notable for its strong basketball program and opportunities for students to earn college credits. Housing in Albany ranges from historic bungalows and cottages to midcentury ranch-style and modern homes, with many located in subdivisions north of downtown. Recreational options include North Park, featuring North Lake, athletic facilities, and a disc golf course, as well as the 65-mile Lake Wobegon Trail and Albany Golf Club. Downtown offers a variety of dining options, including Shady’s Hometown Tavern and Barbacoa, and essential shopping at Teal’s Market and CVS. Community events like Albany Heritage Day and Pioneer Days celebrate the town's heritage with parades, live music, and historical reenactments. Albany's location along Interstate 94 provides convenient access to St. Cloud, 20 miles away, and Minneapolis, 85 miles away, with additional transportation options through Tri-Cap and nearby airports.

Frequently Asked Questions

How much does it cost to rent a home in Albany, MN?
The median rent for a home in Albany, MN is $1,300 per month, though prices vary by neighborhood, size, and property type. As of July 2026, condos tend to be the most affordable option.
How much do you need to make to afford rent in Albany, MN?
To comfortably afford the median rent in Albany, MN, a household needs to earn roughly $52,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,300 per month in Albany, MN, renters typically need to show $3,900 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Albany, MN?
In Albany, MN, the price-to-rent ratio is 17.4, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Albany, MN are best for renting a home?
The best neighborhood for renting in Albany, MN depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include Seberger-Roosevelt, North Side-Hester Park, McKinley-Railroad Parks and Southside, each with its own character and price range.

Rental Home Trends

Number of Homes for Rent
2
Median Rent
$1,300
Median Condo Rent
$1,300
How to Rent a Home