113 Eldridge St
New YorkNY10002
Cheap Apartments for Rent in the Downtown Neighborhood of New York, NY from $1,100 (59 Rentals)
Search the lowest-cost Apartments available for rent right now in the Downtown area of New York.
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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
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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 | $3,977 | $2,691 | $7,450 |
| Downtown 1 Bedroom Apartments | $4,927 | $2,000 | $10,000+ |
| Downtown 2 Bedroom Apartments | $6,161 | $3,020 | $10,000+ |
| Downtown 3 Bedroom Apartments | $9,049 | $3,850 | $10,000+ |
| Downtown 4 Bedroom Apartments | $16,141 | $4,750 | $10,000+ |
| Downtown 5 Bedroom Apartments | $19,747 | $10,000 | $10,000+ |
Browse Apartments in this Neighborhood
There are currently 59 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 1 Bed unit found at 133 W Third St priced from $2,500. 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 |
|---|---|---|---|
| 133 W Third St | Private Bedroom | 1BR, | $2,500 |
| 518 East 5th Street | 518 EAST 5TH STREET - 2 ROOM STUDIO / 1 BATH | Studio,1BA | $2,550 |
| 25 Clinton Street | 25 CLINTON STREET - STUDIO / 1 BATH | Studio,1BA | $2,625 |
| 516 East 5th Street | 516 EAST 5TH STREET - 2 ROOM STUDIO / 1 BATH | Studio,1BA | $2,630 |
| 514 East 5th Street | 514 EAST 5TH STREET - 2 ROOM STUDIO / 1 BATH | Studio,1BA | $2,630 |
| 112 East 7th Street | 112 EAST 7TH STREET - LOFT STUDIO / 1 BATH | Studio,1BA | $2,660 |
| Newport Rentals | PARKSIDE EAST - Studio One Bathroom | Studio,1BA | $2,691 |
| 620 East 11th Street | 620 EAST 11TH STREET - 2 ROOM STUDIO / 1 BATH | Studio,1BA | $2,750 |
| 512 East 5th Street | 512 EAST 5TH STREET - 2 ROOM STUDIO / 1 BATH | Studio,1BA | $2,800 |
| 622 East 11th Street | 622 EAST 11TH STREET - 1 BR / 1 BATH | 2BR,1BA | $2,800 |
Best Value Apartments for Rent in Downtown, NY
As of March 28, 2025 the best value apartment in the Downtown area is the $3.39 price per square foot 517 Grand St Model at 517 Grand St, Unit 1st Floor Duplex in the in the Downtown neighborhood starting from $4,750. The second greatest value Downtown apartment is the 2 Bedroom/2 Bath Model at Gateway Battery Park City starting at $6,858 with a $6.01 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. |
|---|---|---|---|
| 517 Grand St, Unit 1st Floor Duplex | 517 Grand St | 4BR,2BA | $3.39 |
| Gateway Battery Park City | 2 Bedroom/2 Bath | 2BR,2BA | $6.01 |
| Independence Plaza | 2 Bed, 1 Bath Floorplan | 2BR,1BA | $6.35 |
| 20 Exchange | 2 Bed, 1 Bath | 2BR,1BA | $6.32 |
| Exhibit | 2 Bedroom / 2 Bathroom | 2BR,2BA | $6.52 |
| 197 E 4th St | 3 Bed/1.5 Bath | 3BR,1.5BA | $6.56 |
| 65 Bay Street | 1 BR 1 BA Res 06: FL 50 - 51 | 1BR,1BA | $5.27 |
| 32 East 7th Street | 32 EAST 7TH STREET - 1 BR / 1 BATH | 1BR,1BA | $4.46 |
| 251 Water St, Unit 2B | 251 Water St | Studio ,1BA | $6.52 |
| Newport Rentals | ELLIPSE - Studio One Bathroom | Studio ,1BA | $6.46 |
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Pet Friendly LifestyleDowntown, New York, NY
Ranked #7
Among neighborhoods in New York, NY for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Frequently Asked Questions about Cheap Downtown Apartments
What is the Cheapest Studio apartment in Downtown?
Currently the most affordable Cheap Studio Apartment in Downtown is at 518 East 5th Street listed at $2,550.
How much is rent for a Cheap One Bedroom Downtown Apartment?
The lowest price for a Cheap One Bedroom Downtown Apartment is $2,500 at 133 W Third St.
What is the lowest price for a Cheap Two Bedroom Downtown Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Downtown is starting from $2,775 at 620 East 11th Street.
What is the most affordable Downtown Three Bedroom Apartment?
The best deal on a cheap Downtown Three Bedroom Apartment rental is at Newport Rentals and starts from $4,733.
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.
Understanding Amenity Fees: Know Where You Might Be Able to Save Money
Written by: Amber Kanuckel
With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.
Renting Smart: Lease Basics Every Renter Needs
Written by: Christine Leonard, Esq.
Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.
Battling the Butts: Your Guide to the Reality of Smoke-Free Renting
Written by: Andrea Lee Negroni, JD
While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.