Looking For Places To Live In New York City
New York City is often considered one of the most expensive places to live in the United States and the world. Across the United States, the average annual cost of living is $43,000. This number doubles to almost $86,000 for New York City. So where are the cheapest places to live in New York City?
A salary that could net you a nice house across the country can only get you a small apartment in some parts of Manhattan. However, there are some hidden gems and affordable corners of the area.
If you want to move to New York but worry about the cost, we are here to help. Check out the cheapest places to live in New York City.
Cons Of Living In New York City
Although New York is the land of opportunity there are a few catches and negatives to living there.
Rent in New York City is one of the highest prices in the entire country. Some people pay $1,700 just to live in a studio apartment aka a shoebox!
Although rent prices are high, we’re going to go over some ways to live in NYC absolutely rent free through work exchange using Worldpackers so stay tuned to hear more about that. .
The city is very loud and busy. You’ve never heard noise until you’ve been to NYC ambulances, street artists playing saxophones, and the bustling sound of car horns going off every second.
Now that we’ve talked about some pros and cons to living in New York State, let’s review the cheapest places to live!
Discover which are the cheapest and safest places to live in the USA.
Top 5 Cheapest Manhattan Neighborhoods For Rent
The two words “cheap” and “Manhattan”, do not usually accompany each other in the same sentence.
Many people, even NYC residents, are not aware of the affordable living options available to them.
PropertyNest will unveil the not-as-talked-about neighborhoods that may convince readers that living in the city is possible!
It should come as little surprise to many that all of our most affordable neighborhoods reside in upper Manhattan.
While it may seem upper Manhattan is a forgotten area of the city, many of discovered not just cheap rents, but amazingly vibrant neighborhoods.
We will be counting down to the cheapest neighborhood in Manhattan to rent.
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Crown Heights: Affordable Rentals In Central Brooklyn
- Median Asking Rent: $2,550 per month
- Subway Info: The 2, 3, 4, and 5 trains serve the neighborhood, and a shuttle links these four lines to the A and C trains. Commutes are relatively swift, around 20 to 30 minutes.
- Notable Attractions & Amenities: The Brooklyn Children Museum, founded in 1899, is the countrys first museum for kids. Its filled with whimsical hands-on attractions making it a favorite among local families. Plus, the eastern edge of the Brooklyn Botanical Gardens lines the western side of the popular neighborhood.
Crown Heights is bustling with businesses while still being a close-knit community that hosts regular block parties. Its primarily a residential neighborhood with grand architecture making up much of the streets. Still, it draws people from across the borough who shop, eat, and drink along with Franklin, Nostrand, and Utica Avenues. And be prepared for a party with the annual colorful West Indian Day Parade, which runs along the neighborhoods Eastern Parkway. It usually takes place over Labor Day weekend and attracts more than 1 million people.
Crown Heights Rentals Under $2,500 on StreetEasyArticle continues below
Nyc Moving Guide: How To Live On A Budget In New York City
New residents to New York City discover quickly that living expenses in NYC are significantly higher than in other cities where theyve lived. Just leaving your apartment, it can feel like money is mysteriously deleted from your checking account. How did I spend $14 on transportation today? I took the subway Wait, that salad was *how* much? Did my bodega overcharge me?
It may be around the fourth or fifth accidental Uber surge pricing ride when youre ready to approach the dreaded B word and get serious about budgeting. Whether youve been in NYC a while or youre trying to plan ahead for your move, collecting tips for how to save money in NYC is always smart. Read on for information about the cost of living in New York City, how to save on living expenses, affordable neighborhoods in NYC, and other tips on living on a budget in New York.
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Where Is The Cheapest Place To Live In Nyc
Youll be hard-pressed to find a good deal almost anywhere below 180th street in Manhattan, so we moved to the Bronx. More affordable places to live in NYC are Inwood, Sunnyside, Bedford Park, Washington Heights, Flatlands, Jamaica Hills, and almost anywhere on Staten Island.
About Natasha
Natasha is the co-founder of The World Pursuit. She is an expert in travel, budgeting, and finding unique experiences. She loves to be outside, hiking in the mountains, playing in the snow on her snowboard, and biking. She has been traveling for over 10 years experiencing unique cultures, new food, and meeting fantastic people. She strives to make travel planning and traveling easier for all. Her advice about international travel, outdoor sports, and African safari has been featured on Lonely Planet, Business Insider, and Readers Digest. Learn more about Natasha Alden on The World Pursuit About Us Page.
Bushwick: Affordable Alternative To Williamsburg
- Median Asking Rent: $2,800 per month
- Subway Info: The L, J, M, and Z trains service the area. The A and C go to Rockaway Avenue and Broadway Junction, two stations on the neighborhoods eastern edge.
- Notable Attractions & Amenities: Whats great about Bushwick is that one of the best cultural draws is free as its home to incredible street art. You can find warehouses covered in block-long, colorful murals.
Dubbed No. 7 on Vogues list of coolest neighborhoods in the world, Bushwick, Brooklyn, is oozing a bohemian vibe with a buzzing nightlife and eclectic food scene. New restaurants, bars, and galleries are continually popping up, making it one of the most vibrant borough neighborhoods. Youll get all the artsiness of Williamsburg with an $800+ a month discount on the median asking rent. And the housing market is just as eclectic, with plenty of converted lofts in old factories.
Bushwick Rentals Under $2,500 on StreetEasyArticle continues below
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Sohow Much Does It Cost To Live In Nyc
This can be a complicated question to answer because New York isnt just one city its more like five cities, with a host of diverse neighborhoods. Get to know what each has to offer with our guide to the New York City Boroughs. Living in the heart of a more expensive part of Manhattan will mean much higher rent than choosing a less accessible or central area of Brooklyn or Queens.
Heres a quick cost comparison of living expenses in NYC vs the nationalaverage:
RentAccording to RentJungle, average rent across housing sizes and all NYC boroughs is just over $3,500 per month, compared to a national average closer to $1,450 . Yes, more than twice as much is pretty extreme. In Manhattan, luxury areas drive average prices even higher, close to $4,200 per month, while Brooklyns average is around $2,700. Average rent in the outer boroughs of Staten Island, the Bronx, and Queens will help you save significantly if youre willing to sacrifice living in the heart of the city.
GroceriesYes, even food costs more in the Big Apple. According to this Smart Asset article, you can expect to pay about $470 a month on groceries, which is about $150 more a month than the national average. Can you save in this area? Of course. But, youll want to be vigilant about meal planning, comparing prices, and avoiding last-minute purchases at your corner bodega.
What Is The Total Cost To Live In Nyc
We lived in the Bronx, commuted an hour to and from work each day, cooked all our food, and got most of our entertainment from different fitness classes around the city. Living this kind of lifestyle wasnt exactly the most exciting, but it did only cost us about $1350-$1500 each while living in NYC.
Could we have done it cheaper? Of course, we were living far from the cheapest place to live in NYC, but this should give you an idea of what to expect when you try and live on a budget in the city.
Could we have splurged a bit more? Oh hell yes. Spending $1350 a month was pretty bare bones for the type of life we were living in New York considering my paycheck wasnt even double that , it was quite hard to save money at times. However, we managed to save, and save, and save. It took some determination, but it can be done.
Living in New York doesnt have to involve a cab ride to dog sit your best friends Yorkie, a $75 all-you-can-eat pasta dinner , or a $15 martini so you can desperately search for the love of your life. With some patience and determination, living in NYC can be quite comfortable and even allow you to put away some money in the bank so you can escape the city!
Bare minimum expenses in New York came to about $1400/month for us, and realistically I could have cut out $150 more of this if I wanted to live like a hermit.
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Yorkville: An Affordable East Side Enclave
- Median Rent: Yorkville is a submarket of the Upper East Side, which has an overall median rent of $2,700 as of August 2021.
- Subway Info: This neighborhood was once a veritable subway desert, but the Second Avenue Q line has opened up a whole new transportation world, with stops at 86th and 96th streets. In addition, the 4, 5, & 6 trains can be located minutes away on Park Avenue and the ride to Times Square is only about 15 minutes!
- Notable Attractions & Amenities:Carl Schurz Park provides Yorkville residents with plenty of green space, basketball courts, dog runs, and wide-open river views. Its also the home of Gracie Mansion, the official residence of the NYC mayor. Theres also Asphalt Green, a massive sports and fitness facility with an aquatics program. It runs from East 90th to East 92nd streets right at the FDR.
This affordable Manhattan neighborhood, which occupies the easternmost part of the Upper East Side, has a residential vibe. You can expect plenty of well-maintained high-rises, condos, and townhouses. The area also boasts several iconic food destinations, too, including the famed German restaurant Heidelberg and H& H Bagels, both on Second Avenue.
Hamilton Heights Rentals Under $2,950 on StreetEasyArticle continues below
West Street On The East And Surrounded By The Hudson River To The West North And South
Image via Pixabay
This 92-acre planned community sits among lush plantings and comes with fabulous vistas of the Hudson River. Though its spacious setting is far removed from most Manhattan attractions , Battery Park is a favorite choice among families it always ranks among the safest neighborhoods in New York City. It hasn’t been known as a destination for shopping and dining, but that’s changing. With the addition of Brookfield Place a huge shopping mall with a gourmet food court and the city’s second Eataly just a quick walk away, residents can now take advantage of an array of upscale boutiques and eateries. Transportation has always been convenient from this part of town and is now even more so since the newly designed Hub with 11 subway lines is open. Expect to pay at least $4,400 for a one-bedroom apartment in Battery Park City, but many are “no fee,” meaning they skip the dreaded broker’s fee .
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Cheapest Places To Live In Manhattan
People often find it challenging to attribute the term cheap to New York City. But certainly, not everyone who lives there is wealthy. So what is the cheapest place to live in Manhattan?
Instead of one, this article aims to highlight 31 of the cheapest areas you might not know in Manhattan.
Let us dive in!
The Morgan Library & Museum, formerly the Pierpont Morgan Library, is a museum and research library in the Murray Hill neighborhood of Manhattan in New York City. It is situated at 225 Madison Avenue, between
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Th Street To Dyckman Street From South To North From The Harlem River On The East To The Hudson River On The West
Image via Pixabay
New Manhattan residents shouldn’t discount Washington Heights, a soulful and lovely neighborhood in Upper Manhattan that’s minutes to Midtown by way of the A train. Not only will you rent more space for the money, but the apartment stock consists mostly of sprawling pre-war flats, many with gorgeous Beaux-Arts details. Brimming with Hispanic flavor due to its large Dominican population, Washington Heights boasts a good number of Latin restaurants. Mom-and-pop shops are also prevalent, so chain stores haven’t found their way to this area of Manhattan yet. Fort Tryon Park is one of the city’s outdoor treasures as it provides acres of respite from the Big Apple and marvelous views of the Hudson River. Inside is the Met Cloisters, the uptown branch of the Metropolitan Museum of Art that focuses on European medieval art and architecture. And for those who like to escape the city for Upstate, you’ll be that much closer when hitting the road for weekends away. Washington Heights is one of Manhattan’s cheapest places to live there’s a stock of apartments that fall under the $2,000-per-month price tag.
Check out CubeSmart Self Storage near Washington Heights.
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Average Rent Price History By Neighborhood
Like Inwood, Fort George is one of the hidden and undiscovered gems of Manhattan.
Fort George borders Inwood, Hudson Heights, and Washington Heights
It is known for being one of the hilliest and high elevation neighborhoods of the island. Some curved rising streets might even remind you of winding roads in European cities like Paris.
This tranquil neighborhood also borders Fort Tryon Park, where one can gain easy access to the Cloisters Museum.
The neighborhood has always been known for its affordability and it’s no surprise that it’s made the list for one of the cheapest neighborhoods to live in Manhattan.
Once troubled with crime, today’s Fort George has a markedly different tone and has converted into an alternative for those who can’t afford to live in popular areas of Manhattan and Brooklyn.
Cheapest Places To Live In New York City # 1 Inwood
Inwood is located just north of I-95 and to the west of the Bronx. In 2019, the New York Times completed a profile on Inwood, calling it Manhattans last affordable neighborhood. It has the lowest average rents in the borough, and the local community has pushed back against development and gentrification.
The median home cost in New York City is $680,500 with a $1,788 median monthly rent for a one-bedroom apartment. In Inwood, the median home cost is only $538,000 with a median rent of $1,586. While this is significantly higher than the national average, these costs are lower than most of New York City. Plus, you will continue to live in Manhattan, as opposed to commuting in from other parts of the area.
Along with the cost of living in Inwood, you need to consider the commute of moving to the area. New York City has some of the best public transit in the country, so you can easily navigate the island by train or bus. Traveling by train, it will take about 40 minutes to get to Times Square and lower Manhattan. It will also take about 30 minutes to drive. The average commute time in the area is 33.3 minutes one-way, which proves that Inwood isnt too far away from the action downtown.
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Where Is The Cheapest Place To Live In Nyc A Breakdown Of What It Cost Us
Home»Finance»Where is the Cheapest Place to Live in NYC? A Breakdown of What it Cost Us
There must be something between the rat-infested subway platforms and three-star restaurants in New York that make people believe its impossible to save money in NYC. We graduated with liberal and fine art degrees, so naturally, we thought it was a good idea to move to one of the most expensive cities in the world. Were not alone! Many of our peers flocked to The Big Apple to pursue their dreams.
Most of these millennials are astonished that we were able to save enough money to travel the world while living in this world metropolis on entry-level incomes. Both of us had entry-level jobs, but we added $50,000 to our savings accounts before saying goodbye to Manhattan. We did so by living cheaply in NYC, well below our means. Once you set your own NYC living expense budget, its an attainable goal.
It was enough money to stash some bucks in our 401ks, start our own business, and kick off our travels worldwide. So how much did it cost to live in New York City, and where is the cheapest place to live in NYC?
Inwood: A Vibrant Enclave At The Top Of Manhattan
- Median Rent: An impressive $1,858 making it the cheapest Manhattan neighborhood on this list!
- Subway Info: Inwood is served by the A train, which stops at Dyckman Street and 207th Street, and the 1 train stops at Dyckman Street, 207th Street, and 215th Street the final northbound stop in Manhattan. The trip to Midtown is roughly 30 to 40 minutes on the A train.
- Notable Attractions & Amenities: Residents of the tip-top of Manhattan Island enjoy proximity to Inwood Hill Park, arguably one of the finest parks in the entire city. It features miles of waterfront along the Hudson River and Spuyten Duyvil Creek. At the center of the neighborhood lies the Dyckman Farmhouse, a stately relic of Dutch-era New York. Other remnants of the areas intriguing history include a large marble arch reminiscent of Pariss Arc de Triomphe. This Inwood arch once stood over the entrance to the hilltop Seaman-Drake estate.
You cant talk about affordable Manhattan neighborhoods without including Inwood. Up here, streets are lined with a surprising diversity of businesses: some chain stores, countless local shops of all stripes, and restaurants and taverns that give Inwood a nightlife scene all its own. Arguably, the star in the area is The Met Cloisters an outpost of the Metropolitan Museum of Art dedicated exclusively to works from medieval Europe. Youll find it in the northernmost section of Fort Tryon Park, which extends south into Hudson Heights.
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