Cheap Homes for Rent in New York, NY from $700 (707 Rentals)

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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

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New York's Best Affordable Neighborhoods

Learn about New York and the best places to live with original content written by our Local Expert Joshua Carlucci

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New York, NY Local Guide

Cheapest Neighborhoods for Apartments in New York, NY

Pricing Updated: 05/14/2025

Current apartment rentals in the New York, NY area range in price from $725 to $55,000 with an overall median price of $8,624. The three New York neighborhoods with the lowest median rent pricing are Annadale at $1,500, Heartland Village at $1,800, and New Springville at $1,800. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for New York Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Annadale$1,500$1,5001
Heartland Village$1,800$1,8001
New Springville$1,800$1,8001
Charleston$1,900$1,4003
Van Nest$2,112$1,1004
Dongan Hills$2,250$2,2501
Midland Beach$2,250$2,2501
New Dorp Beach$2,250$1,7002
Bronxdale$2,395$2,08510
Marble Hill$2,395$2,3951

Cheapest Available New York Apartments for Rent

 

The cheapest available apartment rental in New York, NY is a Studio unit found at 140 Riverside Boulevard in the West Side neighborhood priced from $410. Ventnor Flatz in the Prospect Park neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $750. Here is today’s list of the most affordable New York apartments for rent:

Apartment ListingModel NameBed/BathPriced From
140 Riverside BoulevardAlcove StudioStudio,1BA$410
Ventnor Flatz1 Bedroom/1 Bath1BR,1BA$750
Park Lane at Sea ViewStudioStudio,1BA$1,120
Senior Horizon1 Bedroom 1 Bathroom1BR,1BA$1,141
Englewood Properties3 Room 1 Bedroom1BR,1BA$1,153

Best Value Apartments for Rent in New York, NY

As of May 14, 2025 the best value apartment in the New York area is the $0.27 price per square foot 408 Niles St Model at 408 Niles St, Unit Apt 2 in the in the Peterstown neighborhood starting from $2,700. The second greatest value New York apartment is the 16 Delaware St Model at 16 Delaware St, Unit 16 delaware st starting at $2,300 with a $0.23 price per square foot in the Elizabeth Port neighborhood. Here is today’s list of the best values for New York apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
408 Niles St, Unit Apt 2408 Niles St3BR,2BA$0.27
16 Delaware St, Unit 16 delaware st16 Delaware St3BR,1BA$0.23
346 Arlington Ave, Unit 346 Arlington Ave346 Arlington Ave5BR,5BA$0.65
1523 E 29th St, Unit Furnishedapartment1523 E 29th St3BR,1BA$1.14
8 Morris Cres, Unit 3 FL8 Morris Cres1BR,1BA$0.65
956 William St956 William St3BR,1BA$1.18
540 Mercer St540 Mercer St1BR,1BA$0.55
544 Mercer St, Unit 2544 Mercer StStudio ,1BA$0.60
678 Communipaw Ave678 Communipaw AveStudio ,1BA$1.00
Ventnor Flatz1 Bedroom/1 Bath1BR,1BA$1.07

Quick Rent Budget Calculator

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Frequently Asked Questions about New York

What type of rentals are currently available in New York?

There are currently 75618 Apartments for Rent in New York, NY with pricing that ranges from $735 to $65,000. There are also 4840 Single Family Homes for rent, Condos, and Townhome rentals currently available in New York ranging from $725 to $90,000.

What is the current price range for Rental Homes in New York?

Today's rental pricing for Homes for Rent, Condos and Townhomes in New York ranges from $725 to $90,000 with an average monthly rent of $7,969.

How much are larger Three and Four Bedroom Rentals in New York?

For those who are looking for larger living arrangements, Three Bedroom Apartments in New York range from $1,050 to $65,000, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,900 to $45,000. Four Bedroom Single-Family rentals are also available starting from $2,299 and Four Bedroom Apartments start at $865.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

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The 10 Best Affordable Neighborhoods for Renting in New York City

Written by: Joshua Carlucci

New York City is the city that never sleeps, but it’s also the city that’s often synonymous with sky-high rents and steep living costs. That said, if you’re like many of us at ApartmentHomeLiving.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.