Cheap Apartments for Rent

Updated - March 26, 2017
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Upcoming Open Houses
Sun, Mar 26 12:30pm - 1:00pm
$2,795
1BR, 1BA at 25 downing st
Sun, Mar 26 1:00pm - 3:00pm
$2,925
1BR, 1BA at 31 Bedford
Sun, Mar 26 4:00pm - 5:30pm
$2,750
3BR, 1BA at 97-14 67th Avenue
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1 Bedroom, Yorkville Rental for $2,395 - Photo 1
Yorkville, Upper East Side, Upper Manhattan, Manhattan
$2,395
Per Month
HopScore
22 mins ago
Shibu (Sam) Kankalil
Upper East Side Expert
Studio, Lincoln Square Rental for $2,800 - Photo 1
Lincoln Square, Upper West Side, Upper Manhattan, Manhattan
$2,800
Per Month
HopScore
9 mins ago
Hela Erez
Upper West Side Expert
No Fee
Studio, Upper East Side Rental for $1,775 - Photo 1
Upper East Side, Upper Manhattan, Manhattan
$1,775
Per Month
HopScore
22 mins ago
Shibu (Sam) Kankalil
No Fee
1 Bedroom, Yorkville Rental for $2,499 - Photo 1
Yorkville, Upper East Side, Upper Manhattan, Manhattan
$2,499
Per Month
HopScore
22 mins ago
Shibu (Sam) Kankalil
Studio, Hell's Kitchen Rental for $2,450 - Photo 1
Hell's Kitchen, Midtown Manhattan, Manhattan
$2,450
Per Month
HopScore
7 mins ago
drew Adams
No Fee
2 Bedrooms, Hell's Kitchen Rental for $2,800 - Photo 1
Hell's Kitchen, Midtown Manhattan, Manhattan
$2,800
Per Month
HopScore
22 mins ago
Shibu (Sam) Kankalil
1 Bedroom, South Slope Rental for $2,900 - Photo 1
South Slope, Park Slope, South Brooklyn, Brooklyn
$2,900
Per Month
HopScore
8 mins ago
Lior Ben-David
No Fee
1 Bedroom, Yorkville Rental for $2,195 - Photo 1
Yorkville, Upper East Side, Upper Manhattan, Manhattan
$2,195
Per Month
HopScore
22 mins ago
Shibu (Sam) Kankalil
1 Bedroom, East Harlem Rental for $1,950 - Photo 1
East Harlem, Upper Manhattan, Manhattan
$1,950
Per Month
HopScore
22 mins ago
Shibu (Sam) Kankalil
3 Bedrooms, Weeksville Rental for $2,450 - Photo 1
Weeksville, Crown Heights, Central Brooklyn, Brooklyn
$2,450
Per Month
HopScore
8 mins ago
Alan Medvinsky
No Fee
Studio, Rose Hill Rental for $2,030 - Photo 1
Rose Hill, Kips Bay, Midtown Manhattan, Manhattan
$2,030
Per Month
HopScore
22 mins ago
Shibu (Sam) Kankalil
2 Bedrooms, Hell's Kitchen Rental for $2,786 - Photo 1
Hell's Kitchen, Midtown Manhattan, Manhattan
$2,786
Per Month
HopScore
25 mins ago
Robert
Hell's Kitchen Expert
1 Bedroom, Yorkville Rental for $2,549 - Photo 1
Yorkville, Upper East Side, Upper Manhattan, Manhattan
$2,549
Per Month
HopScore
22 mins ago
Shibu (Sam) Kankalil
Studio, Upper East Side Rental for $1,800 - Photo 1
Upper East Side, Upper Manhattan, Manhattan
$1,800
Per Month
HopScore
22 mins ago
Shibu (Sam) Kankalil
Studio, Yorkville Rental for $1,635 - Photo 1
Yorkville, Upper East Side, Upper Manhattan, Manhattan
$1,635
Per Month
HopScore
22 mins ago
Shibu (Sam) Kankalil
Studio, Upper East Side Rental for $1,825 - Photo 1
Upper East Side, Upper Manhattan, Manhattan
$1,825
Per Month
HopScore
22 mins ago
Shibu (Sam) Kankalil
By Owner
No Fee
1 Bedroom, Hell's Kitchen Rental for $2,700 - Photo 1
Hell's Kitchen, Midtown Manhattan, Manhattan
$2,700
Per Month
HopScore
8 mins ago
Marlon Beno
Hell's Kitchen Expert
No Fee
1 Bedroom, Hell's Kitchen Rental for $2,188 - Photo 1
Hell's Kitchen, Midtown Manhattan, Manhattan
$2,188
Per Month
HopScore
25 mins ago
Robert
Exclusive
Studio, Upper West Side Rental for $2,199 - Photo 1
Upper West Side, Upper Manhattan, Manhattan
$2,199
Per Month
HopScore
22 mins ago
Shibu (Sam) Kankalil
1 Bedroom, Upper East Side Rental for $2,995 - Photo 1
Upper East Side, Upper Manhattan, Manhattan
$2,995
Per Month
HopScore
8 mins ago
Anastasiia Veliaminova
No Fee
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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). 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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