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Cheap Apartments for Rent

Upcoming Open Houses
Sat, Apr 20 12:00pm - 2:00pm
$2,875
Studio at 15 Cliff Street
Sat, Apr 20 12:00pm - 1:00pm
$2,550
1BR at 412 W 49th St
Sat, Apr 20 12:00pm - 1:00pm
$3,000
1BR at 124 Ludlow St
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1 hour  |  Score: 100
154 E 7th St, Apt 1RW
Alphabet City, East Village, Downtown Manhattan, Manhattan
$3,000 Studio 1 Bath
Randall Smith, East Village Expert
Open House:  Sat, Apr 20, 2:30pm - 3:30pm
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No Fee
 
Exclusive
 
1 hour  |  Score: 100
489 Monroe St., Apt 4
Bedford-Stuyvesant, Northern Brooklyn, Brooklyn
$1,999 3 Bed 1 Bath
Steven Benshabat, Bedford-Stuyvesant Expert
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No Fee
 
Exclusive
  800 ft² · Hardwood Floors
3 hours  |  Score: 100
30-95 29th St., Apt 5K
Astoria, Northwestern Queens, Queens
$2,295 1 Bed 1 Bath
Kenneth Beak, Astoria Expert
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No Fee
 
Exclusive
  Hardwood Floors
2 hours  |  Score: 100
118 West 127th Street, Apt 5
Central Harlem, Upper Manhattan, Manhattan
$1,775 Studio 1 Bath
By Carlos Garcia
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No Fee
 
1 hour  |  Score: 100
West 14th Street
West Village, Downtown Manhattan, Manhattan
$2,200 Studio 1 Bath
Ryan White, West Village Expert
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No Fee
  Pre-War · Hardwood Floors
1 hour  |  Score: 100
Neill Ave
Pelham Parkway, East Bronx, Bronx
$2,495 2 Bed 1 Bath
By Valeriia Orlik
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No Fee
 
4 mins  |  Score: 100
West 34th ~ Chelsea/Hudson Yar...
Chelsea, Midtown Manhattan, Manhattan
$2,995 1 Bed 1 Bath
By Diana Gay
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Elevator
3 hours  |  Score: 100
19 East 71st Street, Apt 5C
Lenox Hill, Upper East Side, Upper Manhattan, Manhattan
$2,150 Studio 1 Bath
Charles Munroe, Upper East Side Expert
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550 ft² · Elevator
1 hour  |  Score: 100
493 Quincy Street, Brooklyn, N...
Bedford-Stuyvesant, Northern Brooklyn, Brooklyn
$1,900 1 Bed 1 Bath
Zee Grant, Bedford-Stuyvesant Expert
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Exclusive
  780 ft²
6 hours  |  Score: 100
30-59 Crescent Street, Apt 3R
Astoria, Northwestern Queens, Queens
$2,550 2 Bed 1 Bath
Don Abbott, Astoria Expert
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Exclusive
  650 ft²
8 hours  |  Score: 100
672 Saint Nicholas Ave., Apt 7...
Central Harlem, Upper Manhattan, Manhattan
$2,999 3 Bed 1 Bath
By Von Booker
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Exclusive
  Elevator
1 hour  |  Score: 100
432 East 89th Street, Apt 3C
Yorkville, Upper East Side, Upper Manhattan, Manhattan
$2,050 1 Bed 1 Bath
Tom Prestigiacomo, Upper East Side Expert
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3 hours  |  Score: 100
West 57th st
Hell's Kitchen, Midtown Manhattan, Manhattan
$2,995 1 Bed 1 Bath
Louis Ortiz, Hell's Kitchen Expert
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No Fee
  Doorman · Elevator · Laundry in Unit
3 hours  |  Score: 100
East 73rd Street
Upper East Side, Upper Manhattan, Manhattan
$2,650 2 Bed 1 Bath
By Trevor Fey
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No Fee
  Hardwood Floors
7 hours  |  Score: 100
27-18 Hoyt Avenue South, Apt 6...
Astoria, Northwestern Queens, Queens
$2,650 1 Bed 1 Bath
By Vincent Prezioso
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No Fee
  650 ft² · Elevator
1 hour  |  Score: 100
1 River Court, Apt 1105
Newport, The Waterfront, Jersey City
$2,709 1 Bed 1 Bath
By Newport
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No Fee
 
By Owner
  813 ft²
7 hours  |  Score: 100
524 West 50th Street, Apt 2A F...
Hell's Kitchen, Midtown Manhattan, Manhattan
$1,999 Studio 1 Bath
Robert A. Brooks, Hell's Kitchen Expert
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Exclusive
  500 ft²
1 hour  |  Score: 100
131 West 85th St
Upper West Side, Upper Manhattan, Manhattan
$2,100 Studio 1 Bath
By Peggy Wunderlich
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Exclusive
  Elevator
4 hours  |  Score: 100
East 20's
Gramercy Park, Midtown Manhattan, Manhattan
$2,495 Studio 1 Bath
Dimitar Nikolov, Gramercy Park Expert
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No Fee
  500 ft² · Doorman · Elevator
2 hours  |  Score: 100
West 34th St
Koreatown, Midtown Manhattan, Manhattan
$2,775 Studio 1 Bath
By Sachiko Honda
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No Fee
  Doorman · 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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