Cheap Homes for Rent in Downtown Neighborhood of New York, NY from $1,400 (43 Rentals)

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Search the lowest-cost Homes available for rent right now in the Downtown area of New York.

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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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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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 514 East 5th Street priced from $2,800. 112 East 7th Street has the second lowest priced unit, which is a Studio apartment currently listed from $2,850. Here are the most affordable Downtown apartments for rent in New York, NY:

Apartment ListingModel NameBed/BathPriced From
514 East 5th Street514 EAST 5TH STREET - 2 ROOM STUDIO / 1 BATHStudio,1BA$2,800
112 East 7th Street112 EAST 7TH STREET - STUDIO / 1 BATHStudio,1BA$2,850
620 East 11th Street620 EAST 11TH STREET - 2 BR / 1 BATH2BR,1BA$3,325
21 West StreetSZ0F10 - 10GStudio,1BA$3,449
The SuffolkStudio / 1 BathroomStudio,1BA$4,081
Avalon Bowery PlaceS1-208-808-431sqStudio,1BA$4,300

Best Value Apartments for Rent in Downtown, NY

As of January 22, 2026 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 ListingModel NameBed/BathPrice Per Sq.Ft.
222 E 7th St2 Bed 2 Bath2BR,2BA$5.21
37 Wall Street$3.92/sq.ft. - 22M2BR,2BA$5.34
Gateway Battery Park City2 Bedroom/2 Bath2BR,2BA$5.87
Exhibit2 Bedroom / 2 Bathroom2BR,2BA$6.52
215 E 4th St2 Bed 1 Bath2BR,1BA$5.33
130 Water St, Unit 9C130 Water St1BR,1BA$4.93
218 E 13th St, Unit 2G218 E 13th St2BR,1BA$6.00
135 John St, Unit 20B135 John St1BR,1BA$6.27
251 Water St, Unit 2B251 Water StStudio ,1BA$6.52
514 East 5th Street514 EAST 5TH STREET - 2 ROOM STUDIO / 1 BATHStudio ,1BA$7.00

Frequently Asked Questions about Downtown

What type of rentals are currently available in Downtown?

There are currently 5114 Apartments for Rent in Downtown, NY with pricing that ranges from $2,575 to $39,500. There are also 888 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown ranging from $1,450 to $55,000.

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 $1,450 to $55,000 with an average monthly rent of $6,642.

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 $1,780 to $50,000. Four Bedroom Single-Family rentals are also available starting from $6,295 and Four Bedroom Apartments start at $6,495.

Expert Rental Resources

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.

Helpful Local Expert Guides

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The 10 Best Affordable Neighborhoods for Renting in New York City

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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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Top Student Friendly Neighborhoods to Rent Near Colleges in NYC

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New York City is more than just a destination—it’s a way of life, especially for students eager to dive into a melting pot of cultures, endless activities, and academic prestige.

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Articles, How-To's, and Tips

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Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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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.

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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.