Cheap Apartments for Rent

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.

Updated - January 24, 2017

Cheap Apartments for Rent

Sort:   HopScore   |   Price
« Back    |    Page    of 2183 (43,659 Rentals)    |    Next »
Upcoming Open Houses
Tue, Jan 24    8:00pm - 10:00pm    1BR, 1BA at 244 WEST 22ND STREET
   $2,483
Tue, Jan 24    8:00pm - 10:00pm    3BR, 2BA at 329 Menahan St, Apt 1R
   $1,300
Wed, Jan 25    8:00am - 7:30pm    1BR, 1BA at 231 East 58th Street
   $2,450
Wed, Jan 25    8:00am - 10:00pm    2BR, 1BA at 249 Powers St
   $2,995
1 Bedroom, Hell's Kitchen Rental for $2,650 - Photo 1
NO FEE
$2,650
Per Month
HopScore
5 mins ago
Eli Halali
Check Availability
Studio, Hell's Kitchen Rental for $2,390 - Photo 1
NO FEE
$2,390
Per Month
HopScore
5 mins ago
Eli Halali
Check Availability
2 Bedrooms, Yorkville Rental for $3,000 - Photo 1
NO FEE
$3,000
Per Month
HopScore
5 mins ago
Eli Halali
Check Availability
2 Bedrooms, Yorkville Rental for $2,800 - Photo 1
NO FEE
$2,800
Per Month
HopScore
5 mins ago
Eli Halali
Check Availability
2 Bedrooms, Bedford-Stuyvesant Rental for $2,843 - Photo 1
NO FEE
$2,843
Per Month
HopScore
6 mins ago
Amit Golriz
Check Availability
Studio, Chelsea Rental for $2,550 - Photo 1
EXCLUSIVE
NO FEE
$2,550
Per Month
HopScore
6 mins ago
Tina Borges-Druth
Check Availability
Studio, Hell's Kitchen Rental for $2,000 - Photo 1
NO FEE
$2,000
Per Month
HopScore
6 mins ago
Randy Caddle
Check Availability
1 Bedroom, Astoria Rental for $1,750 - Photo 1
EXCLUSIVE
$1,750
Per Month
HopScore
6 mins ago
Katya Hrabianiuk
Check Availability
2 Bedrooms, Washington Heights Rental for $2,200 - Photo 1
EXCLUSIVE
NO FEE
$2,200
Per Month
HopScore
24 mins ago
Ross Kaplan
Check Availability
Studio, Turtle Bay Rental for $2,900 - Photo 1
$2,900
Per Month
HopScore
5 mins ago
Samantha Dong
Check Availability
2 Bedrooms, Flatbush Rental for $2,215 - Photo 1
BY OWNER
NO FEE
$2,215
Per Month
HopScore
5 mins ago
NYC Leasing
Check Availability
1 Bedroom, Chelsea Rental for $2,975 - Photo 1
EXCLUSIVE
NO FEE
$2,975
Per Month
HopScore
5 mins ago
Tina Borges-Druth
Check Availability
1 Bedroom, Yorkville Rental for $2,245 - Photo 1
NO FEE
$2,245
Per Month
HopScore
6 mins ago
Galina Zueva
Check Availability
1 Bedroom, East Harlem Rental for $1,995 - Photo 1
$1,995
Per Month
HopScore
28 mins ago
Vidal Benbasat
Check Availability
« Back    |    Page    of 2183 (43,659 Rentals)    |    Next »
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.

Quantcast