
Cheap Homes for Rent in Downtown Neighborhood of New York, NY from $1,300 (46 Rentals)
Search the lowest-cost Homes available for rent right now in the Downtown area of New York.


Private bedroom in 3 bed/1 bath Home

Private bedroom in 3 bed/1 bath Home

Private bedroom in 3 bed/1 bath Home

Private bedroom in 3 bed/1 bath Home

Private bedroom in 3 bed/1 bath Home

Private bedroom in 3 bed/1 bath Home

Private bedroom in 3 bed/1 bath Home

Private bedroom in 3 bed/1 bath Home
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.

Private bedroom in 3 bed/1 bath Home

Private bedroom in 3 bed/1 bath Home

Private bedroom in 3 bed/1 bath Home

Private bedroom in 3 bed/1 bath Home

Private bedroom in 3 bed/2 bath Home

Private bedroom in 3 bed/1 bath Home

Private bedroom in 3 bed/1 bath Home

Private bedroom in 3 bed/1 bath Home

Private bedroom in 3 bed/1 bath Home
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.

Private bedroom in 3 bed/1 bath Home

Private bedroom in 3 bed/2 bath Home

Private bedroom in 5 bed/2 bath Home

Private bedroom in 3 bed/1 bath Home

Private bedroom in 3 bed/1 bath Home

Private bedroom in 3 bed/1 bath Home
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.

Private bedroom in 3 bed/1 bath Home

Private bedroom in 5 bed/2 bath Home

Private bedroom in 3 bed/1 bath Home

Private bedroom in 3 bed/1 bath Home

Private bedroom in 3 bed/1 bath Home

Private bedroom in 3 bed/1 bath Home

Private bedroom in 3 bed/1 bath Home

Private bedroom in 5 bed/2 bath Home

Private bedroom in 3 bed/1 bath Home

Private bedroom in 3 bed/1 bath Home

Private bedroom in 3 bed/1 bath Home

Private bedroom in 3 bed/1 bath Home
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.

Private bedroom in 2 bed/1 bath Home

Private bedroom in 3 bed/2 bath Home

Private bedroom in 2 bed/1 bath Home

514 E 5th St

518 E 5th St
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
Downtown, New York, NY Local Guide

How much does it cost to rent a home in Downtown?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Downtown 2 Bedroom Homes for Rent | $6,747 | $2,310 | $10,000+ |
Downtown 3 Bedroom Homes for Rent | $7,059 | $1,575 | $10,000+ |
Downtown 4 Bedroom Homes for Rent | $26,553 | $6,995 | $10,000+ |
Downtown 5 Bedroom Homes for Rent | $19,434 | $1,360 | $10,000+ |
Browse Homes for Rent in this Neighborhood
There are currently 46 rentals with your search options within a 1 mile radius of the Downtown Neighborhood of New York, NY.
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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 14 St Marks Pl priced from $1,200. 518 East 5th Street has the second lowest priced unit, which is a Studio apartment currently listed from $2,550. Here are the most affordable Downtown apartments for rent in New York, NY:
Apartment Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
14 St Marks Pl | STU | Studio, | $1,200 |
518 East 5th Street | 518 EAST 5TH STREET - 2 ROOM STUDIO / 1 BATH | Studio,1BA | $2,550 |
170-172 Spring Street | Studio / 1 Bathroom | Studio,1BA | $2,995 |
32 East 7th Street | 32 EAST 7TH STREET - 2 BR / 1 BATH | 2BR,1BA | $2,995 |
221 2nd Avenue | Studio | Studio,1BA | $3,000 |
92-96 3rd Avenue | STU/1BA | Studio,1BA | $3,150 |
81 Sullivan St | Studio / 1 Bathroom | Studio,1BA | $3,200 |
197 E 4th St | 1 bed/ 1bath | 1BR,1BA | $3,300 |
Rivington & Clinton St. | 2 Bed 1 Bath | 2BR,1BA | $3,500 |
Best Value Apartments for Rent in Downtown, NY
As of July 23, 2025 the best value apartment in the Downtown area is the $5.15 price per square foot MZA08 - Res 3A-22A Model at 21 West Street in the in the Downtown neighborhood starting from $6,243. The second greatest value Downtown apartment is the 3 Bed Model at 344-348 E 18th St starting at $7,495 with a $6.66 price per square foot in the Gramercy-Flatiron 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. |
---|---|---|---|
21 West Street | MZA08 - Res 3A-22A | 1BR,2BA | $5.15 |
344-348 E 18th St | 3 Bed | 3BR,2BA | $6.66 |
188 Second Ave | 2BR/1BA | 2BR,1BA | $5.45 |
336-338 E 18th St | 2BR | 2BR,2BA | $6.00 |
Exhibit | 2 Bedroom / 2 Bathroom | 2BR,2BA | $6.52 |
Stella LES | 9B - Studio/1BA, Terrace | Studio ,1BA | $5.11 |
32 East 7th Street | 32 EAST 7TH STREET - 2 BR / 1 BATH | 2BR,1BA | $3.33 |
Rivington & Clinton St. | 2 Bed 1 Bath | 2BR,1BA | $4.38 |
251 Water St, Unit 2B | 251 Water St | Studio ,1BA | $6.52 |
14 St Marks Pl | STU | Studio ,0.5BA | $6.00 |
Quick 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.
Frequently Asked Questions about Downtown
What type of rentals are currently available in Downtown?
There are currently 5160 Apartments for Rent in Downtown, NY with pricing that ranges from $1,200 to $39,500. There are also 1117 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown ranging from $1,360 to $100,000.
What is the current price range for Rental Homes in Downtown?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown ranges from $1,360 to $100,000 with an average monthly rent of $11,459.
How much are larger Three and Four Bedroom Rentals in Downtown?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Downtown range from $3,850 to $39,500, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,575 to $42,750. Four Bedroom Single-Family rentals are also available starting from $6,995 and Four Bedroom Apartments start at $6,000.
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.

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
Written by: Cheryl Bowman
A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

The Art of the Rental Viewing: What to look for during a property tour
Written by: Marie Brown
You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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.