Albany, NY (WRGB) — Rent prices have risen across the country, and the Capital Region is no exception, according to local housing experts and landlords who say the COVID19 pandemic marked a major turning point in Albany’s rental market.
William Weiss, a longtime Albany landlord and owner of Albany City Rentals, said rental pricing has increasingly been driven by competition and limited new construction.
“One of the biggest factors right now as far as rental pricing goes, one is based on competition, what all of my other competitors are charging. And one of the other biggest factors that we’ve been dealing with for the past couple of years is the amount of rental units that are being built in Albany,” Weiss said…