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Cheap Apartments for Rent in the Downtown Neighborhood of New York, NY from $1,200 (55 Rentals)
Search the lowest-cost Apartments available for rent right now in the Downtown area of New York.
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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.
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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.
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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting
Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.
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The Art of the Rental Viewing: What to look for during a property tour
Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.
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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.
Downtown, New York, NY Local Guide
How much does it cost to rent an apartment in Downtown?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Studio Apartments | $4,522 | $2,575 | $9,300 |
| Downtown 1 Bedroom Apartments | $5,542 | $2,441 | $10,000+ |
| Downtown 2 Bedroom Apartments | $6,526 | $3,000 | $10,000+ |
| Downtown 3 Bedroom Apartments | $9,701 | $3,850 | $10,000+ |
| Downtown 4 Bedroom Apartments | $11,894 | $6,495 | $10,000+ |
| Downtown 5 Bedroom Apartments | $10,031 | $8,695 | $10,000+ |
| Downtown 6 Bedroom Apartments | $9,450 | $9,450 | $9,450 |
Browse Apartments in this Neighborhood
There are currently 55 rentals with your search options within a 1 mile radius of the Downtown Neighborhood of New York, NY.
See all Apartments in New YorkExplore New York
Downtown, New York, NY Local Guide
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Cheapest Available Downtown Apartments for Rent
The cheapest available apartment rental in the Downtown area of New York, NY is a Studio unit found at 37 Wall Street priced from $3,325. 620 East 11th Street has the second lowest priced unit, which is a 2 Beds apartment currently listed from $3,415. Here are the most affordable Downtown apartments for rent in New York, NY:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 37 Wall Street | $4.25/sq.ft. - 17Q | Studio,1BA | $3,325 |
| 620 East 11th Street | 620 EAST 11TH STREET - 2 BR / 1 BATH | 2BR,1BA | $3,415 |
| 81 Sullivan St | Studio / 1 Bathroom | Studio,1BA | $3,500 |
| 21 West Street | MZS04 - Res 4F-23F | Studio,1BA | $3,677 |
| Gateway Battery Park City | Studio | Studio,1BA | $3,723 |
| 230 Sullivan St | Studio / 1 Bathroom | Studio,1BA | $3,800 |
Best Value Apartments for Rent in Downtown, NY
As of December 06, 2025 the best value apartment in the Downtown area is the $5.21 price per square foot 2 Bed 2 Bath Model at 222 E 7th St in the in the Gramercy-Flatiron neighborhood starting from $9,125. The second greatest value Downtown apartment is the $3.92/sq.ft. - 22M Model at 37 Wall Street starting at $7,300 with a $5.34 price per square foot in the Downtown neighborhood. Here is today’s list of the best values for Downtown apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 222 E 7th St | 2 Bed 2 Bath | 2BR,2BA | $5.21 |
| 37 Wall Street | $3.92/sq.ft. - 22M | 2BR,2BA | $5.34 |
| Exhibit | 2 Bedroom / 2 Bathroom | 2BR,2BA | $6.52 |
| 215 E 4th St | 2 Bed 1 Bath | 2BR,1BA | $5.33 |
| 130 Water St, Unit 9C | 130 Water St | 1BR,1BA | $4.93 |
| 218 E 13th St, Unit 2G | 218 E 13th St | 2BR,1BA | $6.00 |
| 135 John St, Unit 20B | 135 John St | 1BR,1BA | $6.27 |
| 3 Centre Market Pl, Unit #1 | 3 Centre Market Pl | 1BR,1BA | $6.00 |
| 251 Water St, Unit 2B | 251 Water St | Studio ,1BA | $6.52 |
| 66 E 1st St, Unit 2A | 66 E 1st St | Studio ,1BA | $6.40 |
The Local NYC Expert's Guide to the Perfect Neighborhoods Near Top Employers
From Battery Park City to Hudson Heights, find a rental that makes walking to work a reality. Explore the best NYC neighborhoods near major employers.
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Don't Settle: How to Negotiate Your Apartment Lease and Save Money
Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.
Read ArticleThe Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.
Read ArticleA Local Expert's Top Student Friendly Neighborhoods to Rent Near Colleges in NYC
A Local Expert's guide to the Best Student Friendly Neighborhoods Near Colleges in the New York City area for affordable living. Find your perfect NYC Student apartment, condo, or rental home today at ApartmentHomeliving.com
Read ArticleQuick Rent Budget Calculator
How much rent can you afford?
The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.
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Do you know the Downtown area?
If you’re an expert on all things Downtown, tell us what you love (and don't) by rating it and writing a review.
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Pet Friendly LifestyleDowntown, New York, NY
Ranked #3
Among cities in New York for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Best Local Schools in Downtown, New York, NY
School data provided by Great Schools
Frequently Asked Questions about Cheap Downtown Apartments
What is a cheap apartment in Downtown?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown is under $3,800.
What is the price of a cheap apartment in Downtown?
The cheapest apartment in Downtown is Gateway Battery Park City which is listed at $4,270, while the average apartment in Downtown costs $11,000.
What types of apartments are the cheapest in Downtown?
Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 4 regular apartments in Downtown that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
How do the prices of cheap apartments compare to the average apartment in Downtown?
Cheap apartments in Downtown have an average cost of $157 which is $10,843 cheaper than the average rent for all rentals in Downtown.
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.
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.
Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.
Apartment Common Area Rules: What Renters Need to Know
Written by: Christine Leonard, Esq.
Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.
How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!