SQLAlchemy ORM conversion to pandas DataFrame

Below should work in most cases:

df = pd.read_sql(query.statement, query.session.bind)

See pandas.read_sql documentation for more information on the parameters.

Just to make this more clear for novice pandas programmers, here is a concrete example,

pd.read_sql(session.query(Complaint).filter(Complaint.id == 2).statement,session.bind) 

Here we select a complaint from complaints table (sqlalchemy model is Complaint) with id = 2

For completeness sake: As alternative to the Pandas-function read_sql_query(), you can also use the Pandas-DataFrame-function from_records() to convert a structured or record ndarray to DataFrame.
This comes in handy if you e.g. have already executed the query in SQLAlchemy and have the results already available:

import pandas as pd 
from sqlalchemy import Column, Integer, String, create_engine
from sqlalchemy.ext.declarative import declarative_base
from sqlalchemy.orm import scoped_session, sessionmaker


SQLALCHEMY_DATABASE_URI = 'postgresql://postgres:postgres@localhost:5432/my_database'
engine = create_engine(SQLALCHEMY_DATABASE_URI, pool_pre_ping=True, echo=False)
db = scoped_session(sessionmaker(autocommit=False, autoflush=False, bind=engine))
Base = declarative_base(bind=engine)


class Currency(Base):
    """The `Currency`-table"""
    __tablename__ = "currency"
    __table_args__ = {"schema": "data"}

    id = Column(Integer, primary_key=True, nullable=False)
    name = Column(String(64), nullable=False)


# Defining the SQLAlchemy-query
currency_query = db.query(Currency).with_entities(Currency.id, Currency.name)

# Getting all the entries via SQLAlchemy
currencies = currency_query.all()

# We provide also the (alternate) column names and set the index here,
# renaming the column `id` to `currency__id`
df_from_records = pd.DataFrame.from_records(currencies
    , index='currency__id'
    , columns=['currency__id', 'name'])
print(df_from_records.head(5))

# Or getting the entries via Pandas instead of SQLAlchemy using the
# aforementioned function `read_sql_query()`. We can set the index-columns here as well
df_from_query = pd.read_sql_query(currency_query.statement, db.bind, index_col='id')
# Renaming the index-column(s) from `id` to `currency__id` needs another statement
df_from_query.index.rename(name='currency__id', inplace=True)
print(df_from_query.head(5))

The selected solution didn't work for me, as I kept getting the error

AttributeError: 'AnnotatedSelect' object has no attribute 'lower'

I found the following worked:

df = pd.read_sql_query(query.statement, engine)