Cheap Apartments for Rent

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Thu, Jan 25 2:30pm - 8:00pm
$2,875
3BR at 248 McKibbin Street 1B Bsmt
Thu, Jan 25 2:30pm - 8:00pm
$1,775
Studio at 57 Thames Street
Thu, Jan 25 2:30pm - 8:00pm
$2,475
Studio at 57 Thames Street 3U
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3 Bedrooms, Hudson Heights Rental in NYC for $2,520 - Photo 1
3 Bedrooms, Hudson Heights Rental in NYC for $2,520 - Photo 1 3 Bedrooms, Hudson Heights Rental in NYC for $2,520 - Photo 1
Hudson Heights, Washington Heights, Upper Manhattan, Manhattan
$2,520 3 Bed 1 Bath
By Gregory Witchel
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Studio, Williamsburg Rental in NYC for $2,500 - Photo 1
Studio, Williamsburg Rental in NYC for $2,500 - Photo 1 Studio, Williamsburg Rental in NYC for $2,500 - Photo 1
1 hour  |  100
373 Wythe Avenue, Apt 7E
Williamsburg, Northern Brooklyn, Brooklyn
$2,500 Studio 1 Bath
By Thomas Tuminello, Williamsburg Expert
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No Fee
 
Exclusive
  Elevator
2 Bedrooms, Kips Bay Rental in NYC for $3,000 - Photo 1
2 Bedrooms, Kips Bay Rental in NYC for $3,000 - Photo 1 2 Bedrooms, Kips Bay Rental in NYC for $3,000 - Photo 1
18 mins  |  100
East 34th Street
Kips Bay, Midtown Manhattan, Manhattan
$3,000 2 Bed 1 Bath
By Leah Wubnech
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No Fee
  Doorman · Elevator · Pre-War · Hardwood Floors
Studio, Kips Bay Rental in NYC for $2,200 - Photo 1
Studio, Kips Bay Rental in NYC for $2,200 - Photo 1 Studio, Kips Bay Rental in NYC for $2,200 - Photo 1
30 mins  |  100
East 20's
Kips Bay, Midtown Manhattan, Manhattan
$2,200 Studio 1 Bath
By Dimitar Nikolov, Kips Bay Expert
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No Fee
  500 ft² · Doorman · Elevator
2 Bedrooms, Kips Bay Rental in NYC for $2,895 - Photo 1
2 Bedrooms, Kips Bay Rental in NYC for $2,895 - Photo 1 2 Bedrooms, Kips Bay Rental in NYC for $2,895 - Photo 1
Kips Bay, Midtown Manhattan, Manhattan
$2,895 2 Bed 1 Bath
By Eric Coronel
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No Fee
  Doorman · Elevator · Hardwood Floors
Studio, Yorkville Rental in NYC for $2,500 - Photo 1
Studio, Yorkville Rental in NYC for $2,500 - Photo 1 Studio, Yorkville Rental in NYC for $2,500 - Photo 1
58 mins  |  100
234 East 95th Street, Apt 1C
Yorkville, Upper East Side, Upper Manhattan, Manhattan
$2,500 Studio 1 Bath
By Joseph Cvek, Upper East Side Expert
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No Fee
 
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By Owner
  600 ft² · Laundry in Unit
2 Bedrooms, Carnegie Hill Rental in NYC for $2,800 - Photo 1
2 Bedrooms, Carnegie Hill Rental in NYC for $2,800 - Photo 1 2 Bedrooms, Carnegie Hill Rental in NYC for $2,800 - Photo 1
25 mins  |  100
125 East 88th Street, Apt 5C
Carnegie Hill, Upper East Side, Upper Manhattan, Manhattan
$2,800 2 Bed 1 Bath
By Jason Zeller, Upper East Side Expert
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Exclusive
  Pre-War
Studio, Clinton Hill Rental in NYC for $2,200 - Photo 1
Studio, Clinton Hill Rental in NYC for $2,200 - Photo 1 Studio, Clinton Hill Rental in NYC for $2,200 - Photo 1
Clinton Hill, Northwestern Brooklyn, Brooklyn
$2,200 Studio 1 Bath
By Archibald Rowan
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No Fee
 
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By Owner
  Elevator · Hardwood Floors
1 Bedroom, Gramercy Park Rental in NYC for $2,800 - Photo 1
1 Bedroom, Gramercy Park Rental in NYC for $2,800 - Photo 1 1 Bedroom, Gramercy Park Rental in NYC for $2,800 - Photo 1
40 mins  |  100
East 20's
Gramercy Park, Midtown Manhattan, Manhattan
$2,800 1 Bed 1 Bath
By Yordan Bobchev, Gramercy Park Expert
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No Fee
  Doorman · Elevator
1 Bedroom, Long Island City Rental in NYC for $2,595 - Photo 1
1 Bedroom, Long Island City Rental in NYC for $2,595 - Photo 1 1 Bedroom, Long Island City Rental in NYC for $2,595 - Photo 1
37 mins  |  100
Long Island City
Long Island City, Northwestern Queens, Queens
$2,595 1 Bed 1 Bath
By Nick Seita, Long Island City Expert
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No Fee
  Doorman · Elevator · Laundry in Unit
Studio, Murray Hill Rental in NYC for $2,100 - Photo 1
Studio, Murray Hill Rental in NYC for $2,100 - Photo 1 Studio, Murray Hill Rental in NYC for $2,100 - Photo 1
51 mins  |  100
East 39th Street
Murray Hill, Midtown Manhattan, Manhattan
$2,100 Studio 1 Bath
By Andre Savo, Murray Hill Expert
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No Fee
  Doorman · Elevator · Pre-War
1 Bedroom, Bedford-Stuyvesant Rental in NYC for $1,800 - Photo 1
1 Bedroom, Bedford-Stuyvesant Rental in NYC for $1,800 - Photo 1 1 Bedroom, Bedford-Stuyvesant Rental in NYC for $1,800 - Photo 1
8 mins  |  100
520 Decatur Street
Bedford-Stuyvesant, Northern Brooklyn, Brooklyn
$1,800 1 Bed 1 Bath
By Berma Young, Bedford-Stuyvesant Expert
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Studio, Upper West Side Rental in NYC for $2,150 - Photo 1
Studio, Upper West Side Rental in NYC for $2,150 - Photo 1 Studio, Upper West Side Rental in NYC for $2,150 - Photo 1
10 mins  |  100
47 West 73rd Street, Apt T
Upper West Side, Upper Manhattan, Manhattan
$2,150 Studio 1 Bath
By Robert Forster
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2 Bedrooms, Westchester Village Rental in NYC for $1,700 - Photo 1
2 Bedrooms, Westchester Village Rental in NYC for $1,700 - Photo 1 2 Bedrooms, Westchester Village Rental in NYC for $1,700 - Photo 1
2 mins  |  100
1405 Overing Street, Apt 100
Westchester Village, East Bronx, Bronx
$1,700 2 Bed 2 Bath
By Amauris Martinez
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1 Bedroom, Yorkville Rental in NYC for $2,900 - Photo 1
1 Bedroom, Yorkville Rental in NYC for $2,900 - Photo 1 1 Bedroom, Yorkville Rental in NYC for $2,900 - Photo 1
2 hours  |  100
219 East 81st Street
Yorkville, Upper East Side, Upper Manhattan, Manhattan
$2,900 1 Bed 1 Bath
By Jay Siller
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No Fee
 
Studio, West Village Rental in NYC for $3,000 - Photo 1
Studio, West Village Rental in NYC for $3,000 - Photo 1 Studio, West Village Rental in NYC for $3,000 - Photo 1
1 hour  |  100
Sheridan Sq
West Village, Downtown Manhattan, Manhattan
$3,000 Studio 1 Bath
By Jose Medina
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No Fee
  Doorman · Elevator
Studio, Mott Haven Rental in NYC for $1,650 - Photo 1
Studio, Mott Haven Rental in NYC for $1,650 - Photo 1 Studio, Mott Haven Rental in NYC for $1,650 - Photo 1
3 hours  |  100
112 Lincoln Ave, Apt 514
Mott Haven, West Bronx, Bronx
$1,650 Studio 1 Bath
By Kate Ishii
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Exclusive
  550 ft² · Elevator
2 Bedrooms, Gramercy Park Rental in NYC for $3,000 - Photo 1
2 Bedrooms, Gramercy Park Rental in NYC for $3,000 - Photo 1 2 Bedrooms, Gramercy Park Rental in NYC for $3,000 - Photo 1
1 hour  |  100
East 20's
Gramercy Park, Midtown Manhattan, Manhattan
$3,000 2 Bed 1 Bath
By Alex Kim, Gramercy Park Expert
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No Fee
  Doorman · Elevator
Studio, Hell's Kitchen Rental in NYC for $2,350 - Photo 1
Studio, Hell's Kitchen Rental in NYC for $2,350 - Photo 1 Studio, Hell's Kitchen Rental in NYC for $2,350 - Photo 1
1 hour  |  100
W 45th St
Hell's Kitchen, Midtown Manhattan, Manhattan
$2,350 Studio 1 Bath
By Meyer Ovadia
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No Fee
  Doorman · Elevator · Laundry in Unit · Hardwood Floors
Studio, Yorkville Rental in NYC for $1,945 - Photo 1
Studio, Yorkville Rental in NYC for $1,945 - Photo 1 Studio, Yorkville Rental in NYC for $1,945 - Photo 1
1 hour  |  100
first avenue
Yorkville, Upper East Side, Upper Manhattan, Manhattan
$1,945 Studio 1 Bath
By Isabelle Harrington, Upper East Side Expert
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No Fee
 
Open House:
Wed, Jan 24, 6:00pm - 7:30pm
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Cheap

New York is certainly one of the most exciting and diverse cities in the world. Yet, there is no question that it is also one of the most expensive. In fact, the standard one-bedroom apartment averages over $3,200. Even studios (or smaller units) aren't much cheaper. These prices can certainly dissuade any new graduates moving into the city. Don't fret, though. There are a number of cheap and affordable options throughout the city (and the outer boroughs). In addition, if you're willing to…

New York is certainly one of the most exciting and diverse cities in the world. Yet, there is no question that it is also one of the most expensive. In fact, the standard one-bedroom apartment averages over $3,200. Even studios (or smaller units) aren't much cheaper. These prices can certainly dissuade any new graduates moving into the city. Don't fret, though. There are a number of cheap and affordable options throughout the city (and the outer boroughs). In addition, if you're willing to have a roommate, a lot more options open up. Here at RentHop, we're helping you find the best affordable apartments within your budget. You can search for cheap apartments by price, location, as well as filter by floorplans. We've also written a comprehensive rental guide that will teach you more about the NYC rental process.

Saving Money

There are a number of ways to save money when looking for an apartment. First, you're paying a massive premium if you want to live in a doorman/elevator luxury building. Do you really need someone to accept your packages and watch the front door? Do you really need an elevator (or are you willing to walk up a few steps?). Second, much larger apartments tend to be cheaper per bedroom. If you're willing to live with multiple roommates, you can probably save money by dividing the cost of the common area among multiple people. Third, do you really need to be close to the trendy areas of the city? The public transportation system in New York is pretty robust. As long as you live near a subway line, you can pretty much get anyone in the city decently fast. Finally, for those who don't mind walking and exercise, RentHop has found that apartments farther away from subway access and on the higher floors of walkups tend to be significantly cheaper. If you're willing to compromise, there are a number of affordable apartments in New York (and even Manhattan). Of course, very rarely, you might find that "gem" apartment in the city. Save your searches on our site to get updates whenever new apartments pop up.

Best Neighborhoods for Finding Bargains

Every neighborhood has its own distinct flavor. Some neighborhoods are built tall (with skyscrapers and commercial buildings). Other neighborhoods are filled with old walk-ups and greenery. There is no question that prices also differ by neighborhood. The average price of a one-bedroom in NoMad (north of Madison Park) might be over $4,000 whereas a one-bedroom in the Lower East Side is only around $2,700. Even in adjoining neighborhoods, the prices can differ significantly. A few blocks matter!

When looking for the neighborhoods keep an open mind on the surrounding areas (and neighborhoods) to find the best "bang for buck" in terms of quality relative to cheapness. To get you started, though, RentHop has found that Lower East Side apartments, Upper East Side apartments, East Village apartments tend to be cheaper. Many of these areas have fewer luxury high-rise buildings and more inventory of older walkups (which tend to be cheaper). If you're looking to live in a luxury high-rise, your best bet might be Midtown East and the Financial District. Brooklyn Heights and Jersey City offer additional discounts if you're OK with living outside of Manhattan.

Why is it so expensive?

How did New York City get so expensive? First off, the pricing in Manhattan shouldn't be too surprising given that it is effectively a small peninsula with a limited amount of space. In addition, zoning laws across the city prevent it from "building up" except in certain neighborhoods. Just as important, though, is the relative wealth of the city. The New York City metropolitan area (which includes part of Jersey) has the second highest median household income (only slightly beaten by the San Francisco area). Finally, condos and co-ops in the city have become somewhat of an "investment asset," reducing the available inventory for renting.

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