Zumper
modified
Updated 5+ Days Ago

Highlights

  • One off-street parking space
  • Additional off street parking
  • Heat and hot water included

Location

338 Madison Ave, Albany, NY 12210, USA|Capitol Hill
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Contact

Management

Redway Property Management

Leasing office

(844) 284-9985 ext. 2593

Property Overview

338 Madison Avenue receives a strong overall rating, with excellent marks for price, location, and amenities, suggesting solid value and convenience. It stands out for nearby schools, a high value-for-money percentile, and a lively setting with many event hubs, cultural spots, parks, and restaurants, plus off-street parking and included heat and hot water.

This summary uses Zumper’s proprietary data. “Zumper Expert Ratings,” “Things you’ll love,” and “Great for” are based on our internal analyses of market trends and renter insights.

Zumper Expert Rating

8.7
Very Good
With a solid 8.7 out of 10 overall, 338 Madison Avenue is a great option for renters. While some aspects, like Trustworthiness, might not be as distinguished as other properties nearby, 338 Madison Avenue has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.

Things you’ll love

  • Middle school nearby
  • High school nearby
  • Less expensive

Great for

  • Social life

Floor plans

338 Madison Avenue - 22 bed1 bath$1,550 /moThis 2 bedroom, 1 bath unit on Madison Ave in Albany is within walking distance to the Empire State Plaza, New York State Museum, as well as an abundance of restaurants and bars. Heat and hot water are included, and there are a coin operated washer and dryer in the basement. Unit comes with one parking space included, additional off street parking space available for $50/month. Rent/Security $1550. Applications only accepted through www redwaypropertymanagement com

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Policies and fees

Applicants

Applicants

One-time.

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REQUIRED FEES

Security Deposit

One-time. Refundable.

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About 338 Madison Avenue

HomeApartments in AlbanyCapitol Hill 338 Madison Avenue

This is a 1 bedroom, 1 bathroom unit on Madison Ave in the heart of Albany, walking distance to the state offices and in the middle of everything. The unit includes one off-street parking space in the back of the building. Heat and hot water are included. Coin operated washer and dryer in the basement. Tenant pays electric and gas for stove/cooking. Rent/security $1200. Applications accepted only at www redwaypropertymanagement com


Zumper Expert Rating

Our expert rating is based on a weighted average score of property attributes that renters care about most: price, amenities, location, quality, and trust.
8.7
/10
Very Good
With a solid 8.7 out of 10 overall, 338 Madison Avenue is a great option for renters. While some aspects, like Trustworthiness, might not be as distinguished as other properties nearby, 338 Madison Avenue has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.
How we rated 338 Madison Avenue
Price·10A score that weighs the cost and location of the property, which we calculate by comparing rent prices of recent units to the median price of nearby rentals, adjusting for overall quality and features.
338 Madison Avenue offers an excellent balance between price and value. It's priced competitively for its amenities, location, and other key features. Compared to the median price per bedroom in the area, this property is less than, or about the same as, nearby rentals, so residents can expect great value without too many compromises on their desired standard of living.
Amenities·8A score based on the amenities offered at this property compared to other rentals in the area. We consider the quantity, quality, and popularity of features both on site and within the units.
With multiple in-demand amenities, 338 Madison Avenue is committed to enhancing the renting experience. And while it may have fewer total conveniences and features than similar rentals nearby, it remains a top choice for renters wanting an specific standard of living.
Location·9A score based on proximity and ease of access to shops, restaurants, schools, and public transportation while considering the desirability of the area.
338 Madison Avenue is exceptional when it comes to location and conveniences. Communication with management or leasing staff is usually quick and easy and they often use advanced scheduling and communication tools to streamline the process. The location of this property offers easy access to popular points of interest in the area and options for getting around.
Quality·8A score based on what makes the property stand out, such as luxury features, unique offerings, age of the building, and our ability to verify the accuracy of these details.
Anyone looking for quality at a great value will find 338 Madison Avenue to be an attractive option. Renters can also rely on this rental to provide them with accurate information they need to find the living experience they desire.
Trustworthiness·7A score based on the accuracy, completeness, recency, and usefulness of the information provided by this property, so you can trust that what you see is what you get.
338 Madison Avenue provides some information about the features available in the community and its apartments, making it a reliable option for prospective renters. Renters should ask additional questions about amenities and non-negotiable items they are looking for.

338 Madison Avenue is great for:

Social life

  • 233 restaurants within 1 mile of this property
  • 75 museums, art galleries, or cultural centers within 1 mile
  • 28 local event hubs within 1 mile
  • Area has 30 parks and recreation options

Property highlights

We compared every listing in the surrounding area to determine which amenities are most common. If a building lacks an amenity that most others in the area have, it is a con. If a building has an amenity most others in the area do not, it is a pro. Similarly, price, schools, and size are calculated relative to the size, price, and distance to schools of the other properties nearby.

How 338 Madison Avenue compares to other nearby properties.

Positives

Middle school nearby
There is a middle school 0.3 mile away
High school nearby
There is a high school 1 mile away
Less expensive
The 2-bedrooms are cheaper than other similar listings nearby
Elementary school nearby
There is an elementary school 0.3 mile away

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Rent trends in Capitol Hill

2-bedroom apartments at 338 Madison Avenue cost about 3% less than the average rent price for 2-bedroom apartments in Capitol Hill.

Median rents as of Aug 8 2026.
Capitol Hill
Albany
A table of 1-bedroom apartment rental data trends in Albany
MonthMedian Rent
August 2024$1,237
September 2024$1,248
October 2024$1,294
November 2024$1,307
December 2024$1,299
January 2025$1,335
February 2025$1,374
March 2025$1,309
April 2025$1,262
May 2025$1,257
June 2025$1,281
July 2025$1,330
August 2025$1,329
September 2025$1,295
October 2025$1,300
November 2025$1,302
December 2025$1,250
January 2026$1,278
February 2026$1,279
March 2026$1,337
April 2026$1,392
May 2026$1,355
June 2026$1,357
July 2026$1,350
August 2026$1,349
A table of 1-bedroom apartment rental data trends in Capitol Hill
MonthMedian Rent
August 2024$1,213
September 2024$1,243
October 2024$1,249
November 2024$1,175
December 2024$1,393
January 2025$1,281
February 2025$1,243
March 2025$1,182
April 2025$1,119
May 2025$1,150
June 2025$1,487
July 2025$1,600
August 2025$1,370
September 2025$1,246
October 2025$1,234
November 2025$1,172
December 2025$1,238
January 2026$1,298
February 2026$1,295
March 2026$1,322
April 2026$1,383
May 2026$1,455
June 2026$1,440
July 2026$1,393
August 2026$1,440

Affordability calculator

Can I afford to live at 338 Madison Ave?

Bedrooms

2 bedrooms

Rent-to-income ratio

30%

Slide to adjust the percentage of your monthly income you are willing to spend on rent.
The general rule of thumb is to spend around 30% or less of your income on rent.
Recommended income

$62,000/yr

With your selected rent-to-income ratio, you'd ideally want to make $62,000 annually to afford this 2-bedrooms monthly rent price of $1,550.
For more information on rent affordability, visit our rent calculator.

Schools near 338 Madison Avenue

Giffen Memorial Elementary School

274 s pearl st

albany, NY, 12202

PK, K-5Public
C

Sheridan Preparatory Academy

400 sheridan ave

albany, NY, 12206

PK, K-5Public
C

Delaware Community School

43 bertha st

albany, NY, 12209

PK, K-5Public
C

Arbor Hill Elementary School

1 arbor dr

albany, NY, 12207

PK, K-5Public
C

Philip J. Schuyler Achievement Academy

676 clinton ave

albany, NY, 12206

PK, K-5Public
C
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Internet available near 338 Madison Avenue

Getting around Albany near 338 Madison Ave

Walking

7/10
Grab your reusable bags–many shops and stores are within walking distance.

Driving

9/10
Commuting is easy with multiple accessible routes and plenty of parking.

Cycling

5/10
More spots are within biking distance and some roads are cyclist-friendly.

Transit

9/10
Getting around is a breeze; rapid transit and bus lines are a few blocks away.

Points of interest for 338 Madison Ave, Albany

Groceries

9/10
Exceptional variety of groceries within a few minutes' walk

Shopping

6/10
Wide variety of shops within a short drive, including some within walking distance

Cafes

8/10
Wide variety of cafés within a few minutes’ walk

Restaurants

9/10
Wide variety of restaurants within a few minutes’ walk

Primary schools

9/10
At least one elementary school within a 10-minute walk

High schools

9/10
At least one high school within a 10-minute walk

Parks

8/10
Large amount of park space nearby

Nightlife

9/10
Wide variety of bars within a few minutes' walk

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