Cheap Homes for Rent in Downtown Neighborhood of New York, NY from $1,200 (38 Rentals)

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

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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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.

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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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Downtown, New York, NY Local Guide

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 ListingModel NameBed/BathPriced From
14 St Marks PlSTUStudio,$1,200
518 East 5th Street518 EAST 5TH STREET - 2 ROOM STUDIO / 1 BATHStudio,1BA$2,550
170-172 Spring StreetStudio / 1 BathroomStudio,1BA$2,995
32 East 7th Street32 EAST 7TH STREET - 2 BR / 1 BATH2BR,1BA$2,995
221 2nd AvenueStudioStudio,1BA$3,000
92-96 3rd AvenueSTU/1BAStudio,1BA$3,150
81 Sullivan StStudio / 1 BathroomStudio,1BA$3,200
197 E 4th St1 bed/ 1bath1BR,1BA$3,300
Rivington & Clinton St.2 Bed 1 Bath2BR,1BA$3,500

Best Value Apartments for Rent in Downtown, NY

As of July 26, 2025 the best value apartment in the Downtown area is the $6.66 price per square foot 3 Bed Model at 344-348 E 18th St in the in the Gramercy-Flatiron neighborhood starting from $7,495. The second greatest value Downtown apartment is the 2BR Model at 336-338 E 18th St starting at $5,995 with a $6.00 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 ListingModel NameBed/BathPrice Per Sq.Ft.
344-348 E 18th St3 Bed3BR,2BA$6.66
336-338 E 18th St2BR2BR,2BA$6.00
188 Second Ave2BR/1BA2BR,1BA$5.45
Exhibit2 Bedroom / 2 Bathroom2BR,2BA$6.52
32 East 7th Street32 EAST 7TH STREET - 2 BR / 1 BATH2BR,1BA$3.33
Stella LES9B - Studio/1BA, TerraceStudio ,1BA$5.11
Rivington & Clinton St.2 Bed 1 Bath2BR,1BA$4.38
221 2nd Avenue1 Bed1BR,1BA$6.70
251 Water St, Unit 2B251 Water StStudio ,1BA$6.52
14 St Marks PlSTUStudio ,0.5BA$6.00

Quick Rent Budget Calculator

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Frequently Asked Questions about Downtown

What type of rentals are currently available in Downtown?

There are currently 5162 Apartments for Rent in Downtown, NY with pricing that ranges from $1,200 to $39,500. There are also 1096 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown ranging from $1,280 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 $1,280 to $100,000 with an average monthly rent of $11,494.

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 $1,625 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.

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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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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.

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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.

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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.