Cheap Homes for Rent in New York, NY from $500 (1,230 Rentals)

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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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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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property at 129 Court St

$1,139

1 Bedroom, 1 Bath Home for Rent

Available Now

129 Court St

ElizabethNJ07206

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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New York, NY Local Guide

Cheapest Neighborhoods for Apartments in New York, NY

Pricing Updated: 02/06/2026

Current apartment rentals in the New York, NY area range in price from $700 to $37,090 with an overall median price of $6,162. The three New York neighborhoods with the lowest median rent pricing are Bulls Head at $1,300, Emerson Hill at $1,300, and Lighthouse Hill at $1,300. 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
Bulls Head$1,300$1,3001
Emerson Hill$1,300$1,3001
Lighthouse Hill$1,300$1,3001
New Springville$1,300$1,3001
Richmond Town$1,300$1,3001
Annadale$1,695$1,6951
Eltingville$1,695$1,6951
Great Kills$1,695$1,3002
Bronxwood$2,000$2,0001
Hunt's Point$2,100$2,1001

Cheapest Available New York Apartments for Rent

 

The cheapest available apartment rental in New York, NY is a 1 Bed unit found at Harlem Place 1 in the Hamilton Heights neighborhood priced from $700. Ventnor Flatz in the Prospect Park neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $750. Here is today’s list of the most affordable New York apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Harlem Place 11 Bedroom1BR,1BA$700
Ventnor Flatz2 Bedroom/1 Bath2BR,1BA$750
Park Lane at Sea ViewOne Bedroom B1BR,1BA$967
53 Cooper Pl11BR,1BA$985
The Astra - Income RestrictedStudioStudio,1BA$1,013
Markham Gardens2 Bedroom2BR,1BA$1,025
Whitney Young ManorStudioStudio,1BA$1,039

Best Value Apartments for Rent in New York, NY

As of February 06, 2026 the best value apartment in the New York area is the $0.28 price per square foot 132 Heald St Model at 132 Heald St in the in the Arden Heights neighborhood starting from $1,975. The second greatest value New York apartment is the 472 Myrtle Ave Model at 472 Myrtle Ave, Unit RETAIL starting at $6,500 with a $1.00 price per square foot in the Downtown Brooklyn 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.
132 Heald St132 Heald St3BR,1BA$0.28
472 Myrtle Ave, Unit RETAIL472 Myrtle Ave1BR,1BA$1.00
487 Mercer St, Unit 2nd Fl Apt487 Mercer St3BR,1BA$0.54
1117 Chestnut St, Unit 11117 Chestnut St3BR,2BA$0.92
133 23rd St, Unit 3F133 23rd St2BR,2BA$0.97
59 Vroom St59 Vroom StStudio ,1BA$0.60
1010 Kilsyth Rd1010 Kilsyth Rd2BR,1BA$0.93
1 Carriage City Plz, Unit 6141 Carriage City Plz1BR,1BA$1.07
603 Garfield Ave, Unit 1603 Garfield Ave1BR,1BA$0.96
Ventnor Flatz2 Bedroom/1 Bath2BR,1BA$0.88

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.

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The 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.

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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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A 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

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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.

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore New York, NY Rentals by Map

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See the most popular apartments and homes in New York, NY

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New York, NY Area Reviews

  • Parks
  • Entertainment
  • Local Vibes
  • Restaurants
  • Location
  • Traffic
  • Public Transportation
  • Outdoor Access
  • Cost of Living
  • Safety

Virginia • 4+ years in New York

October 16, 2025

Good vibes - but the stores could be better. Too many junk stores and nail salons. Not enough food stores - and the ones here are rather pricey. Not pet friendly - yet another service presented by the greedy landlords--rents are too high.

Frequently Asked Questions about New York

What type of rentals are currently available in New York?

There are currently 75011 Apartments for Rent in New York, NY with pricing that ranges from $700 to $37,090. There are also 6472 Single Family Homes for rent, Condos, and Townhome rentals currently available in New York ranging from $550 to $72,000.

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 $550 to $72,000 with an average monthly rent of $3,140.

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 $1,397 to $37,090, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,100 to $72,000. Four Bedroom Single-Family rentals are also available starting from $980 and Four Bedroom Apartments start at $1,632.

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

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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Top Student Friendly Neighborhoods to Rent Near Colleges in NYC

Written by: Joshua Carlucci

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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The Local NYC Experts Guide to the Perfect Neighborhoods Near Top Employers

Written by: Joshua Carlucci

New York has a funny way of making your commute part of your identity.

Articles, How-To's, and Tips

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

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.