Cheap Apartments for Rent

Upcoming Open Houses
Thu, Apr 19 11:30am - 7:00pm
$2,980
Studio at 805 Columbus Avenue
Thu, Apr 19 11:30am - 8:00pm
$2,900
2BR at 267 Powers Street.
Thu, Apr 19 11:30am - 7:30pm
$2,700
1BR at 11 west 82nd street #10
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1 Bedroom, Upper West Side Rental in NYC for $2,700 - Photo 1
1 Bedroom, Upper West Side Rental in NYC for $2,700 - Photo 1 1 Bedroom, Upper West Side Rental in NYC for $2,700 - Photo 1
Upper West Side, Upper Manhattan, Manhattan
$2,700 1 Bed 1 Bath
By Hillary Pitt
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Exclusive
  Elevator
Open House:
Thu, Apr 19, 11:30am - 7:30pm
2 Bedrooms, Ocean Hill Rental in NYC for $1,900 - Photo 1
2 Bedrooms, Ocean Hill Rental in NYC for $1,900 - Photo 1 2 Bedrooms, Ocean Hill Rental in NYC for $1,900 - Photo 1
55 mins  |  100
29 Somers Street
Ocean Hill, Central Brooklyn, Brooklyn
$1,900 2 Bed 1 Bath
By Berma Young
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1 Bedroom, Astoria Rental in NYC for $1,999 - Photo 1
1 Bedroom, Astoria Rental in NYC for $1,999 - Photo 1 1 Bedroom, Astoria Rental in NYC for $1,999 - Photo 1
52 mins  |  100
33-16 31st Avenue, Apt 2R
Astoria, Northwestern Queens, Queens
$1,999 1 Bed 1 Bath
By Diana Babayeva
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3 Bedrooms, Sunset Park Rental in NYC for $2,300 - Photo 1
3 Bedrooms, Sunset Park Rental in NYC for $2,300 - Photo 1 3 Bedrooms, Sunset Park Rental in NYC for $2,300 - Photo 1
1 hour  |  100
475 41st St
Sunset Park, South Brooklyn, Brooklyn
$2,300 3 Bed 1 Bath
By Ross K. Adams Brooklyn Expert
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No Fee
 
2 Bedrooms, Upper West Side Rental in NYC for $2,825 - Photo 1
2 Bedrooms, Upper West Side Rental in NYC for $2,825 - Photo 1 2 Bedrooms, Upper West Side Rental in NYC for $2,825 - Photo 1
2 hours  |  100
145 West 74th Street
Upper West Side, Upper Manhattan, Manhattan
$2,825 2 Bed 1 Bath
By Moni Swed, Upper West Side Expert
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Hardwood Floors
2 Bedrooms, Gramercy Park Rental in NYC for $2,900 - Photo 1
2 Bedrooms, Gramercy Park Rental in NYC for $2,900 - Photo 1 2 Bedrooms, Gramercy Park Rental in NYC for $2,900 - Photo 1
19 mins  |  100
East 20's
Gramercy Park, Midtown Manhattan, Manhattan
$2,900 2 Bed 1 Bath
By Yordan Bobchev, Gramercy Park Expert
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No Fee
  750 ft² · Elevator
2 Bedrooms, Ocean Hill Rental in NYC for $2,000 - Photo 1
2 Bedrooms, Ocean Hill Rental in NYC for $2,000 - Photo 1 2 Bedrooms, Ocean Hill Rental in NYC for $2,000 - Photo 1
2 hours  |  100
2342 Atlantic Avenue, Apt 4D
Ocean Hill, Central Brooklyn, Brooklyn
$2,000 2 Bed 1 Bath
By Darren Gordon
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By Owner
  Elevator
2 Bedrooms, Yorkville Rental in NYC for $2,900 - Photo 1
2 Bedrooms, Yorkville Rental in NYC for $2,900 - Photo 1 2 Bedrooms, Yorkville Rental in NYC for $2,900 - Photo 1
31 mins  |  100
East 88th Street
Yorkville, Upper East Side, Upper Manhattan, Manhattan
$2,900 2 Bed 1 Bath
By Gary Sahin, Upper East Side Expert
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No Fee
  Pre-War · Hardwood Floors
2 Bedrooms, Upper East Side Rental in NYC for $2,745 - Photo 1
2 Bedrooms, Upper East Side Rental in NYC for $2,745 - Photo 1 2 Bedrooms, Upper East Side Rental in NYC for $2,745 - Photo 1
1 hour  |  100
242 E 77th Street
Upper East Side, Upper Manhattan, Manhattan
$2,745 2 Bed 1 Bath
By Jermaine Johns
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Elevator
1 Bedroom, Williamsburg Rental in NYC for $2,400 - Photo 1
1 Bedroom, Williamsburg Rental in NYC for $2,400 - Photo 1 1 Bedroom, Williamsburg Rental in NYC for $2,400 - Photo 1
2 hours  |  100
281 South 5th St, Apt 3
Williamsburg, Northern Brooklyn, Brooklyn
$2,400 1 Bed 1 Bath
By Moses Stark
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No Fee
 
Exclusive
  Loft · Hardwood Floors
Studio, Yorkville Rental in NYC for $2,150 - Photo 1
Studio, Yorkville Rental in NYC for $2,150 - Photo 1 Studio, Yorkville Rental in NYC for $2,150 - Photo 1
Yorkville, Upper East Side, Upper Manhattan, Manhattan
$2,150 Studio 1 Bath
By Thomas Bohan
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  Elevator
Studio, East Williamsburg Rental in NYC for $2,775 - Photo 1
Studio, East Williamsburg Rental in NYC for $2,775 - Photo 1 Studio, East Williamsburg Rental in NYC for $2,775 - Photo 1
2 hours  |  100
57 Thames Street, Apt 3M
East Williamsburg, Williamsburg, Northern Brooklyn, Brooklyn
$2,775 Studio 1 Bath
By Hannah Spongberg, Williamsburg Expert
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By Owner
  775 ft² · Elevator
Studio, Hell's Kitchen Rental in NYC for $2,400 - Photo 1
Studio, Hell's Kitchen Rental in NYC for $2,400 - Photo 1 Studio, Hell's Kitchen Rental in NYC for $2,400 - Photo 1
1 hour  |  100
W 42nd St
Hell's Kitchen, Midtown Manhattan, Manhattan
$2,400 Studio 1 Bath
By Ronald Roncancio, Hell's Kitchen Expert
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No Fee
  Doorman · Elevator · Laundry in Unit · Hardwood Floors
1 Bedroom, Greenwood Heights Rental in NYC for $2,850 - Photo 1
1 Bedroom, Greenwood Heights Rental in NYC for $2,850 - Photo 1 1 Bedroom, Greenwood Heights Rental in NYC for $2,850 - Photo 1
2 hours  |  100
635 4th Avenue, Apt 202
Greenwood Heights, South Brooklyn, Brooklyn
$2,850 1 Bed 1 Bath
By bev smith
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No Fee
 
Exclusive
  566 ft² · Doorman · Elevator
Studio, Rose Hill Rental in NYC for $2,000 - Photo 1
Studio, Rose Hill Rental in NYC for $2,000 - Photo 1 Studio, Rose Hill Rental in NYC for $2,000 - Photo 1
5 mins  |  100
215 East 25th Street
Rose Hill, Kips Bay, Midtown Manhattan, Manhattan
$2,000 Studio 1 Bath
By Anri Kawahara Huang
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1 Bedroom, Theater District Rental in NYC for $3,000 - Photo 1
1 Bedroom, Theater District Rental in NYC for $3,000 - Photo 1 1 Bedroom, Theater District Rental in NYC for $3,000 - Photo 1
Theater District, Midtown Manhattan, Manhattan
$3,000 1 Bed 1 Bath
By Eric Coronel
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No Fee
  Doorman · Elevator · Hardwood Floors
1 Bedroom, Woodside Rental in NYC for $1,850 - Photo 1
1 Bedroom, Woodside Rental in NYC for $1,850 - Photo 1 1 Bedroom, Woodside Rental in NYC for $1,850 - Photo 1
Woodside, Northwestern Queens, Queens
$1,850 1 Bed 1 Bath
By Michael Chadwick
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1 Bedroom, Bay Ridge Rental in NYC for $1,650 - Photo 1
1 Bedroom, Bay Ridge Rental in NYC for $1,650 - Photo 1 1 Bedroom, Bay Ridge Rental in NYC for $1,650 - Photo 1
7 mins  |  100
160 72nd Street, Apt 711
Bay Ridge, Southwestern Brooklyn, Brooklyn
$1,650 1 Bed 1 Bath
By Ross Vesselinov
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  Elevator
1 Bedroom, Long Island City Rental in NYC for $2,593 - Photo 1
1 Bedroom, Long Island City Rental in NYC for $2,593 - Photo 1 1 Bedroom, Long Island City Rental in NYC for $2,593 - Photo 1
2 hours  |  100
42-14 Crescent Street, Apt 3B
Long Island City, Northwestern Queens, Queens
$2,593 1 Bed 1 Bath
By Shirley Ozery
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No Fee
 
Exclusive
  Elevator · Laundry in Unit · Hardwood Floors
2 Bedrooms, Gramercy Park Rental in NYC for $2,900 - Photo 1
2 Bedrooms, Gramercy Park Rental in NYC for $2,900 - Photo 1 2 Bedrooms, Gramercy Park Rental in NYC for $2,900 - Photo 1
26 mins  |  100
14 street
Gramercy Park, Midtown Manhattan, Manhattan
$2,900 2 Bed 1 Bath
By Eleonora (Elle) Nikolova, Gramercy Park Expert
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No Fee
  Elevator
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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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