It’s nice to have a large budget to find accommodation (hopefully paid for by your company), but many of us don’t. This article is for the other 99% who need to find affordable financial district apartments for rent in New York City and how they can live in the city of their dreams without breaking the bank trying. As licensed agents, we know the New York real estate market and have some tips and tricks for navigating the city.
Read on and find out how you can afford an apartment to live your dream in New York.
Understand the costs of living in New York
New York City is one of the best destinations in the world for travelers and for those who rent apartments. We all want to experience life in the Big Apple, which means landlords take advantage of the situation quickly and rental prices can skyrocket. Being realistic with your budget will save you a lot of time and frustration, and an agent can help you realistically determine what could be achieved within your budget.
If you are on a high budget, we have a host of luxury rentals apartments and you can get details by reading this article and these apartments will suit your needs. However, for people with more limited budgets, the first step is to realize that in New York they can get everything they could afford elsewhere. Differentiating what is an absolute necessity or a “must” on your list of criteria is a “plus” that would be nice to have, but you can also live without it. This is New York, so it’s time to give up the sneaky “Friends” and “Sex and the City” apartments and get ready to get engaged. Be flexible and be willing to change certain criteria that can save a lot on rent.
Conveniences can drive up the price and you can save with a little effort
We’d all like to have all the comforts you can dream of in our apartment, but let’s face it, you’re moving to New York, one of the most expensive cities in the world, so it’s time to get money smart. An in-unit washer and dryer is a nice convenience if it falls into your budget, but is it really necessary? Many buildings have common laundries where laundry can be done.
What if the building does not have a laundry room? Fear not, most of us just go to the local laundry. You can find one on almost every corner and it’s a great opportunity to meet your neighbors, make some friends, and maybe meet someone special while folding your delicates (just like in the movies,This one bedroom furnished apartment in Harlem is around the corner from a laundry room and this studio apartment on the Upper East Side has the convenience of having a laundry room right next door.
It would be great to have open spaces like a garden or balcony, but in New York that love of open spaces will be expensive. Why not save money by renting a flat near a park or garden, or moving to the closest open space of your choice? Luxury causes monotony, thrifty tenants can change and head to a different park, garden or river bank whenever they want. This two bedroom rental apartment in Tribeca, Brooklyn is located just 3 blocks from Prospect Park . And don’t forget that some of the city’s open spaces with the best views are above us on one of the many rooftop terraces and bars .
Kitchens in Manhattan are very small, which encourages eating ready-made food and saving money. So if you really don’t like cooking, save some money on a basic studio apartment with a kitchenette instead of a fully equipped kitchen like in this Upper West Side studio apartment . You’ll have the basics like a mini-fridge, microwave, and stove for your basic kitchen needs, and you’ve got an excuse to try all the great takeout options that make New York City unique in the world (including Anthony Bourdain deciding to open a food market here. Need we say more?).
Get Active: A Little Effort Can Save You Big!
Some people may need an elevator due to physical limitations, but if you are fit and willing, why not save some money on your rent? Buildings without a lift can be considerably cheaper than buildings with a lift. Plus, you can go through your daily workout without even realizing it.
Brooklyn has plenty of elevator-free building options, including this one-bedroom apartment in Bushwick . While this studio apartment on the Lower East Side is a good option for bargain hunters who want to stay in Manhattan. GoalkeepersThey’re great for catching up on the latest building gossip, but do you really want to pay extra to have someone open the door for you? Don’t forget that all those talks will cost you money when the holidays approach and it is time to tip the building staff.
Keep your arms in good shape and save on your vacation budget by opting for a building without a doorman, which could save you a lot of money. You can still live in a sophisticated Upper East Side without a doorman with this furnished studio apartment located just off Park Avenue .
Don’t think short about location
Do you really need to limit your apartment search to within two blocks of your office or school? New York is an easily accessible city, with one of the best global travel systems in the world. We all travel by public transport here, so get your Metrocard ! Strategy is key here. Think outside the box, downtown is going to cost you more, so move around a bit, head further east or west, or take a look at Upper Manhattan . You might consider this one bedroom apartment in the Inwood neighborhood of Upper Manhattan or this studio apartment in Hamilton Heights .
We New Yorkers know that there is much more to New York than just Manhattan. Queens and Brooklyn are a subway ride away and you can save money on your rent, plus you don’t have to squeeze into an apartment the size of a shoebox. Just hit the subway after a night in Manhattan, or ride the Uber back to the quiet of your apartment. This one-bedroom apartment in Ridgewood, Queens is near the Brooklyn border, while this one-bedroom apartment in Bay Ridge , Brooklyn is located near the ocean and has views of New York Bay .
Share an apartment
Can’t afford the entire rental bill? We don’t blame him. To survive the rising rents, a lot of New Yorkers share apartments around here. New York Habitat has an entire section dedicated to shared flats , where you can rent a room for 30 days or more in a shared apartment. This room for rent in a three bedroom apartment on the Upper East Side and this room in a two bedroom apartment on the Upper West Side allowed me to live in some of the most expensive neighborhoods in Manhattan for a fraction of the cost.
Combining budgets with friends to share an entire two- or three-bedroom apartment can also help save on rent and give you a larger living space than you might be able to afford on your own. This three-bedroom apartment in Cypress Hills, Brooklyn , and this three-bedroom furnished apartment in Bedford Stuyvesant, Brooklyn are spacious enough to share with friends, and if you don’t need a bedroom each, you can save money by renting a one bedroom apartment with a sofa bed.
Last but not least, our agents know the ins and outs of our extensive list of apartments, so sometimes they can do some magic and find something that you might otherwise miss, like a one bedroom apartment with a second “living room”, which is more like a second hidden bedroom. Up to 12 people sleep in this Bedford Stuyvesant vacation rental with additional living rooms!