Looking south (upstream) in the Wallkill River north of Walden, NY, USA. Daniel Case, CC BY-SA 3.0, via Wikimedia Commons
When it comes to finding a place to live, the Hudson Valley has something for everyone. Yes, the region boasts stone chateaus, Greek Revival masterpieces, and more than a few abodes with incredible histories. Fortunately (or unfortunately, depending upon how you look at it), the area north of New York City has options for the rest of us, too. As buying a home continues to be a challenge (hello, seller’s market!) and renting becomes an increasingly popular — and often more affordable — alternative, select Hudson Valley towns shine as price-right contenders.
To narrow down the best wallet-friendly hometowns in the Valley, we considered average rental and home costs, referring to Realtor.com, Rent Café, Trulia, and Zillow. We also weighed factors like crime rate, location, attractions, and area income to determine which cities deserve your real estate dollars. Read on to see the most affordable spots in the Hudson Valley.
Henry Bellagnome from Troy, New York, United States, CC BY-SA 2.0, via Wikimedia Commons
Albany
As one of the northernmost points of the Hudson Valley region, Albany is an upstate metropolis with a little something for everyone. While it is a distance from prominent mid-Valley hotspots like Beacon and New Paltz, it boasts more than enough attractions to lure budding entrepreneurs and professionals who want to make moves in the increasingly creative business scene. For renters, Albany is apartment gold. While rent prices increased from $1,557 to $1,617 in the past year, that number is not nearly as high as other urban centers of the Hudson Valley (cough, cough…Poughkeepsie). Prospective homeowners have it pretty swell as well, with median home value running right around $297,320. Plus, with a number of suburbs surrounding the city, Albany is a great choice for families and individuals who crave the best of city living and suburban comforts all at once.
In terms of cultural to-dos, Albany is a mecca for arts and entertainment. The Palace Theatre is a must for top-billing performers and celebrity guests, while The New York State Museum is ideal for visitors who want to peek into the state’s iconic history. As for food, Albany boasts every cuisine under the sun, from Americana at 677 Prime to mouthwatering brunch at Iron Gate Cafe.
Related: Here’s Where to Get the Best Brunch in Albany
Daniel Case, CC BY-SA 3.0, via Wikimedia Commons
Cornwall-on-Hudson
Located on the shore of the Hudson River, Cornwall-on-Hudson is a frontrunner on our list of value-for-money locales. The average cost for a rental is $1,435 (up slightly from $1,337 from last year), a price that will get you about 800 sq ft of space. Aspiring homeowners have it slightly less sweet, with a medium home value of $512,341. Home values have risen a whopping 7.9 percent in the past year, making Cornwall-on-Hudson one of the more expensive places to buy a house on this list (although that price is still significantly lower than nearby cities like Tuxedo, which exceeds the million mark). To put things in perspective, in the 25-44 age bracket, $150,694 is the median income in town.
As for things to do, Cornwall-on-Hudson is a hop, skip, and jump away from some of the region’s top cultural attractions. Storm King Art Center is right next-door, as is Bannerman Castle and the Hudson Highlands Nature Museum. Residents can spend the weekend at any of the area’s numerous coffee shops before grabbing a slice at one of the local pizzerias for dinner.
Related: Ogle Larger-Than-Life Art at Local Sculpture Parks
City Winery. Photo by Adam Pass, courtesy of City Winery
Montgomery
Montgomery is a dream for renters who want a central location and bargain prices. With an approximate rental cost of $1,750 for an 893-sq-ft apartment, a one-bedroom is within reach in this affordable Orange County town. If you’re looking to buy a home in the region, houses are somewhat more costly in town, with the median listing price at $590,000. (And there’s variety, too. An impressive 46 homes were for sale in town at the time of publication.) Plus, while Montgomery is not as close to the Hudson River as, say, Newburgh, its inland location means homeowners can often secure more land than they would elsewhere.
As for things to do in and around the area, there’s significantly more than you might think. City Winery is one of the hottest attractions in the whole Hudson Valley, and it just so happens to be right in town. There’s also a host of parks in the surrounding landscape, making it the perfect spot for nature lovers.
Related: City Winery Is Vino Paradise on a Historic Orange County Property
Daniel Case, CC BY-SA 3.0, via Wikimedia Commons
Ellenville
Thanks to its proximity to the Shawangunk Ridge, Ellenville is one of those Hudson Valley towns that lures hikers and nature lovers who dream of a Catskills escape. A small and charming locale, Ellenville is a dream for outdoor explorers in search of walks along the rail trail and weekend treks to Minnewaska State Park Preserve. Rent is competitive — a 962-sq-ft apartment here costs only $1,562 – although it should be noted that this is a fair increase from $1,418 the previous year. Homeowners should seriously consider Ellenville as a viable city to put down roots as well. Average home value sit affordably around $260,473, and stock on the market often features a fair amount of land, too.
In terms of outdoor attractions, Ellenville is a paradise for weekenders and residents alike. The village is primely located next to Witch’s Hole State Park, Minnewaska State Park Preserve, Awosting Reserve, and the Shawangunk Ridge State Forest. It’s precisely the place to marvel the natural beauty of the Hudson Valley at its finest.
Related: Ellenville Boasts a Rich History and Cultural Attractions Galore
Photo by Sabrina Sucato
Hyde Park
Hyde Park is one of those towns that is primed to blow up in popularity at any moment. For now, it lives in the serene intersection between Poughkeepsie and Rhinebeck. With nearby attractions, an abundance of dining options, and a proximity to some of the region’s top schools, the affordable town may or may not be the Hudson Valley’s best-kept secret. For potential renters, average rent prices have remained stable from 2023 to 2024 at $1,518. That price gets you about 762 sq ft, although you may be able to score more if you shop around. Homeowners have it fairly sweet, too, with median sale prices running around $396,500. (Be warned: Median home listing price is $719,000, so negotiation can pay off here.) As a bonus, the neighborhood boasts strong public school districts in a relatively safe community.
As for cultural venues, there are so many things to do in and around Hyde Park that it’s hard to know where to begin. The Eleanor Roosevelt Center at Val-Kill is in the heart of the town, while FDR’s home, The Culinary Institute of America, and Marist College rest along the border. Locals are spoiled with dining options, thanks to their proximity to one of the top culinary institutions in the world. The Eveready Diner is a must, as is every single one of the restaurants on the CIA’s campus.
Related: Dassai Blue Sake Brewery Makes Its Grand Debut in Hyde Park
Daniel Case, CC BY-SA 3.0, via Wikimedia Commons
Kingston
Have we mentioned what a gem Kingston is? With a prime location along the Hudson River, not to mention the too-cool Stockade District, it’s an affordable town in which putting down roots is a piece of cake. A one-bedroom averages about $1,644, a slight increase from $1,510 in 2023. Just as apartment prices are up, so too are home values, which are currently averaging a $499,000 listing price (up $100,000 from 2023) and a $352,000 sale price. Buy now, watch home value rise later?
Another perk to living in Kingston is the abundance of historic sites and hip eateries in the area. The Hudson River Maritime Museum and the Rondout Lighthouse are great picks for families, while Front Street Tavern and Mirador will satisfy everyone’s cravings.
Related: How to Spend a Day in Kingston
Photo by Sabrina Sucato
Walden
Walden may not be on the radar for Hudson Valleyites outside of Orange County, but it is a dream destination for renters and buyers of all ages. As a quieter, affordable town on the northern border of the county, Walden offers some of the most competitive rental rates in the Valley. Prices are on the rise, up slightly from $1,293 last year, but an average space still ranks affordably at $1,313 for 563 sq ft. Anyone looking to buy a home in Walden should waste no time. The median listing price is $399,900, so you just may be able to find a deal if you keep your eyes on the ever-changing market.
Even though it’s located in one of the more serene corners of Orange County, Walden is a top spot for food and culture (did we mention Angry Orchard is the main attraction in town?). With a median household income falling just below $77,000, reasonable rates are the secret to this city’s success. As long as you’re okay with being slightly away from the riverfront, Walden is the place for you.
Related: Explore These 27 Breathtaking Waterfalls in the Hudson Valley
ronmcc, CC BY 3.0, via Wikimedia Commons
Menands
When it comes to affordable towns in the Hudson Valley, Menands is hot. The average cost for rentals, $1,400, will get you a reasonable 849 sq ft of space. Those looking for a home of their own may face a more challenging market, however. Average prices have soared over the past year from $487,500 to $580,000 for an average listing price on a house that is smack between Albany and Troy.
Property in Menands is an increasingly valuable commodity for Capital Region residents, who recognize the locale’s proximity to Albany International Airport and Albany’s thriving craft beverage scene. With Fort Orange Brewing and top-notch brunches nearby, Menands residents always have something exciting to look forward to each weekend.
Related: Here’s Where to Get the Best Brunch in Albany
English Wikipedia user Daniel Case, CC BY-SA 3.0, via Wikimedia Commons
Troy
Albany isn’t the only upper Hudson Valley city with a happening social scene. Don’t believe us? Just check out Troy’s thriving downtown. The riverside city leads the way with local tech, which is why coworking spaces are popular options for entrepreneurs and startups who want to work in a productive environment. On the rent end of things, now is the time to scoop up an apartment in Troy. Prices rose slightly from $1,427 in 2023 to $1,531 in 2024. As for home costs, they’re not too shabby either. Median home values currently rest at $264,408, which means purchasing your own property may very well be more affordable than renting in the long run.
In terms of attractions in this affordable town, there’s no shortage of things to do in Troy. Whether you explore the history at the Rice Building or catch a show at Troy Savings Bank Music Hall, you’ll love wandering through the area’s hidden – and not so hidden – corners. As for food, upscale Americana bar grub reigns supreme at spots like The Ruck and Brown’s Brewing Company.
Related: What to Do on a Day Trip to Troy
Acroterion, CC BY-SA 4.0, via Wikimedia Commons
Croton-on-Hudson
Rounding out the list of affordable towns is Croton-on-Hudson, the Westchester County town that charms locals and visitors alike. While Westchester may be one of the most expensive places to live in the Hudson Valley, it’s hard to deny that living here is attractive both for its easy access to the city and its suburban charm. And, with a prime location along the Metro-North line, Croton is a no-brainer when it comes to shopping for the perfect home sweet home in the 914. In terms of living accommodations, a 520-sq-ft rental will set you back $1,490 per month on average. House prices are the some of the steepest on this list, running about $689,000 for median home listing.
Whether you choose to live in Croton-on-Hudson or visit for just a day (P.S. It’s very day-trippable), there’s no end of activities to add to the itinerary. Spend part of the day shopping around town, then wander across Croton Point Park or Croton Gorge Park for your nature fix. Whatever you do, don’t leave without picking up a scoop of The Blue Pig ice cream for dessert.
Related: Where to Go for Ice Cream in the Hudson Valley
