Cheap Homes for Rent in Downtown Neighborhood of New York, NY from $2,200 (80 Rentals)

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

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

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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

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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

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 112 East 7th Street priced from $2,600. 516 East 5th Street has the second lowest priced unit, which is a Studio apartment currently listed from $2,630. Here are the most affordable Downtown apartments for rent in New York, NY:

Apartment ListingModel NameBed/BathPriced From
112 East 7th Street112 EAST 7TH STREET - STUDIO / 1 BATHStudio,1BA$2,600
516 East 5th Street516 EAST 5TH STREET - 2 ROOM STUDIO / 1 BATHStudio,1BA$2,630
221 2nd AvenueStudioStudio,1BA$3,000
Newport RentalsPARKSIDE WEST - Studio One BathroomStudio,1BA$3,021
SableS1Studio,1BA$3,260
10 Hanover SquareStudio XStudio,1BA$3,298
197 E 4th St1 bed/ 1bath1BR,1BA$3,300
35 E 7th StStudioStudio,1BA$3,300
20 Exchange0 Bed, 1 BathStudio,1BA$3,397

Best Value Apartments for Rent in Downtown, NY

As of May 19, 2025 the best value apartment in the Downtown area is the $6.53 price per square foot Three Bedroom C2B-W Model at View 34 in the in the Upper East Side neighborhood starting from $8,427. The second greatest value Downtown apartment is the 53 Nassau St Model at 53 Nassau St, Unit 3 starting at $5,780 with a $4.82 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.
View 34Three Bedroom C2B-W3BR,2BA$6.53
53 Nassau St, Unit 353 Nassau St3BR,1BA$4.82
Exhibit2 Bedroom / 2 Bathroom2BR,2BA$6.52
32 East 7th Street32 EAST 7TH STREET - 2 BR / 1 BATH2BR,1BA$3.89
197 E 4th St3 Bed/1.5 Bath3BR,1.5BA$6.56
Stella LES9B - Studio/1BA, TerraceStudio ,1BA$5.11
65 Bay Street1 BR 1 BA Res 02 & 08: FL 8 - 441BR,1BA$4.77
221 2nd Avenue1 Bed1BR,1BA$6.70
251 Water St, Unit 2B251 Water StStudio ,1BA$6.52
Newport RentalsELLIPSE - Studio One BathroomStudio ,1BA$6.82

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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Frequently Asked Questions about Downtown

What type of rentals are currently available in Downtown?

There are currently 5385 Apartments for Rent in Downtown, NY with pricing that ranges from $1,650 to $60,000. There are also 507 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown ranging from $2,250 to $50,000.

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 $2,250 to $50,000 with an average monthly rent of $12,378.

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 $1,650 to $60,000, while Three Bedroom Homes, Condos, and Townhomes for rent range from $4,000 to $35,000. Four Bedroom Single-Family rentals are also available starting from $10,000 and Four Bedroom Apartments start at $7,200.

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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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.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.