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Studio Apartments for Rent in Albany, OR

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  • /21

    Starting at $1,410 Per Month

    • Studio - 3 Beds

    350 Timber Ridge St NE, Albany, OR 97322

    Welcome to Somerset Ridge Apartment Homes!We are a luxury community, offering relaxation and sophistication in a beautiful setting for all of our residents to enjoy! Come see everything that our community has to offer!Somerset Ridge offers luxury living with an endless amenities package. Our homes feature plank wood flooring, granite counter tops, air conditioning, and

    Somerset Place

    350 Timber Ridge St NE, Albany, OR 97322
  • /10

    $1,050 Per Month

    • Studio
    • 1 Bath
    • 450 Sq Ft
    • 1004-1010 24th Avenue SE

    1004-1010 SE 24th Ave Unit 1010, Albany, OR 97322

    This studio/1-bathroom unit of a duplex in SE Albany is AVAILABLE NOW!Conveniently located near bus stop, schools & shoppingOff-street parking (driveway) available for one vehicle. On-street parking is available in the neighborhoodNo washer/dryer or hook-ups available (Laundromat located 0.5 miles away)Fenced-in courtyard patioTENANT is responsible for electricity,

    1004-1010 SE 24th Ave Unit 1010, Albany, OR 97322

Why Live in Albany

Albany's historic downtown features a beautifully restored 1909 carousel where visitors can watch volunteers hand-carving new animals at the Historic Carousel & Museum. The city preserves its pioneer heritage through four distinct historic districts, showcasing over 700 buildings dating to the 1840s, including the Monteith House Museum, Albany's first framed structure from 1849. Outdoor recreation flourishes at Talking Water Gardens, a unique man-made wetlands park, while Timber Linn Memorial Park offers a lake, walking paths and sports fields.

The housing market in Albany presents diverse options across eight main neighborhoods. North Albany commands the highest median single family home price at $564,500, while Willamette offers more affordable options with a median price of $332,500. The citywide median sale price stands at $440,000, with townhomes at $386,400 and two bedroom condos at $317,500.

Albany Transit System provides public bus service throughout the city, with Albany Station serving as an Amtrak hub. The culinary scene features notable establishments like Vault 244 and Sybaris. Oak Grove Intermediate School, rated A minus by Niche, serves the North Albany neighborhood. The city hosts significant annual events including the Northwest Art & Air Festival and Veterans Day Parade. Located 70 miles south of Portland and 45 miles north of Eugene, Albany offers convenient access to the Oregon Coast, just 60 miles west.

Frequently Asked Questions

How much does it cost to rent a home in Albany, OR?
The median rent for a home in Albany, OR is $1,795 per month, though prices vary by neighborhood, size, and property type. As of August 2026, condos tend to be the most affordable option while townhouses and single-family homes are currently more expensive.
How much do you need to make to afford rent in Albany, OR?
To comfortably afford the median rent in Albany, OR, a household needs to earn roughly $71,800 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 $1,795 per month in Albany, OR, renters typically need to show $5,385 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, OR?
In Albany, OR, the price-to-rent ratio is 20.2, 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.

Rental Home Trends

Number of Homes for Rent
2
Median Rent
$1,795
Median Single Family Home Rent
$2,450
Median Townhouse Rent
$2,195
Median Condo Rent
$1,500
How to Rent a Home