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Cheap Apartments for Rent in New York, NY

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415 East 73 Street, Apt 5E
Upper East Side, Upper Manhattan, Manhattan
10021
$2,400
Exclusive
By Massimo A. Astrologo, 1 hour ago
bedrooms
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bathrooms
1 Bath
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220 West 98th Street, Apt 5M
Manhattan Valley, Upper West Side, Upper Manhattan, Manhattan
10025
$2,600
By Jessie Huaman, 2 hours ago
bedrooms
Studio
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bathrooms
1 Bath
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324 East 83 Street, Apt 1
Yorkville, Upper East Side, Upper Manhattan, Manhattan
10028
$2,350
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By Massimo A. Astrologo, 1 hour ago
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bathrooms
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47-48 49th Street, Apt 1A
Sunnyside, Long Island City, Northwestern Queens, Queens
11377
$2,199
Exclusive
By Constantine Fourtounis, 2 hours ago
Sunnyside Expert
bedrooms
1 Bed
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bathrooms
1 Bath
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17 Battery Place, Apt 13P
Financial District, Downtown Manhattan, Manhattan
10004
$3,000
By Jedidiah Lopez, 8 hours ago
Financial District Expert
bedrooms
Studio / Flex 1
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bathrooms
1 Bath
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63 Wall Street, Apt 2210
Financial District, Downtown Manhattan, Manhattan
10005
$2,956
By Jedidiah Lopez, 8 hours ago
Financial District Expert
bedrooms
Studio / Flex 1
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1 Bath
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326 East 35th Street, Apt 51
Murray Hill, Midtown Manhattan, Manhattan
10016
$2,995
No Fee
By Yin Nguyen, 10 hours ago
bedrooms
1 Bed
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bathrooms
1 Bath
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417 West 56th Street, Apt E2
Hell's Kitchen, Midtown Manhattan, Manhattan
10019
$2,500
By John Patrick SKIP Murphy, 14 hours ago
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Studio
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bathrooms
1 Bath
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417 East 135th Street, Apt 4A
Mott Haven, West Bronx, Bronx
10454
$2,525
No Fee
By Samuel Zajgarten, 10 hours ago
bedrooms
2 Bed
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bathrooms
1 Bath
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35 East 65th Street, Apt 2B
Lenox Hill, Upper East Side, Upper Manhattan, Manhattan
10065
$2,975
By Ian Matheson, 14 hours ago
bedrooms
Studio
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bathrooms
1 Bath
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square feet
525 Sqft
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888 8th Avenue, Apt 4S
Theater District, Midtown, Midtown Manhattan, Manhattan
10019
$2,950
By John Patrick SKIP Murphy, 17 hours ago
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Studio
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bathrooms
1 Bath
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201 East 35th Street, Apt 4K
Murray Hill, Midtown Manhattan, Manhattan
10016
$2,800
By Monty White, 10 hours ago
Murray Hill Expert
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bathrooms
1 Bath
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22-77 Steinway Street
Astoria, Northwestern Queens, Queens
11105
$1,900
By Bhavnish Bhandari, 8 hours ago
Astoria Expert
bedrooms
1 Bed
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bathrooms
1 Bath
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Ninth Avenue
Hell's Kitchen, Midtown Manhattan, Manhattan
10036
$2,776
By Danielle Senisi, 1 hour ago
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429 East 73 Street, Apt 3FW
Upper East Side, Upper Manhattan, Manhattan
10021
$2,700
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By Massimo A. Astrologo, 1 hour ago
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1 Bed
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1 Bath
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1654 Third Avenue, Apt 22
Upper East Side, Upper Manhattan, Manhattan
10128
$2,600
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By Karolina Kozminska, 20 hours ago
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1 Bath
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East 77th Street
Upper East Side, Upper Manhattan, Manhattan
10075
$2,350
No Fee
By SELLES- Soraya, 20 hours ago
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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).

Cheap Apartments for Rent in New York, NY

Cheap Apartments for Rent in NYC

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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