Cheapest Neighborhoods for Renting in NYC in 2024: Data-Based Insights

We’ve analyzed data from over 100 platforms and six months of trends to reveal the cheapest neighborhoods in NYC and the best times to secure a great deal.

Methodology

This analysis is based on data collected from more than 100 platforms, covering 30 neighborhoods across 3 boroughs (Manhattan, Queens, and Brooklyn) over the past six months. The primary metric for determining affordability is the average room price. By examining these prices month by month, we can identify trends and highlight the best times to secure a rental in the city’s most affordable neighborhoods.

Key Insights

• Cheapest NY Neighborhood Overall: Flatbush, Brooklyn – Average room price: $1,030
• Cheapest New York Areas by Borough:
  • Manhattan: Central Harlem – $1,100
  • Brooklyn: Flatbush – $1,030
  • Queens: Ridgewood – $1,080

Expert Tips to Save on NYC Rentals

• Aim for January: Across these neighborhoods, January is your wallet’s best friend.
• Dodge Peak Months: Avoid renting in June when prices peak.
• Neighborhood Savvy: Central Harlem and Flatbush offer the most bang for your buck, especially in winter.
• Plan Ahead: Timing is everything when it comes to renting in NYC’s affordable neighborhoods. Plan smart, act fast, and you’ll snag a great deal without sacrificing style or convenience.

The 11 Cheapest NY Neighborhoods

1. Flatbush, Brooklyn

• Average Room Price: $1,030
• Best Month to Rent: January 2024 ($970)
• Worst Month to Rent: June 2024 ($1,170)

Flatbush offers the best deals early in the year. It’s a vibrant, diverse community close to Brooklyn College – perfect for students and young professionals. Convenient public transportation options make commuting easy.

Find rentals starting from one month in Flatbush

2. Sunset Park, Brooklyn

• Average Room Price: $1,070
• Best Month to Rent: January 2024 ($1,010)
• Worst Month to Rent: April 2024 ($1,130)

Affordable in early winter, Sunset Park boasts a huge park and stunning waterfront views. It offers excellent subway connections and a lively cultural scene.

Find rentals starting from one month in Sunset Park

3. Hamilton Heights, Manhattan

• Average Room Price: $1,070
• Best Month to Rent: January 2024 ($1,000)
• Worst Month to Rent: June 2024 ($1,150)

Prices soar in the summer but remain low in winter. This area is known for its stunning architecture and lively community vibes, with easy access to public transportation.

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4. Ridgewood, Queens

• Average Room Price: $1,080
• Best Month to Rent: January 2024 ($1,050)
• Worst Month to Rent: April 2024 ($1,120)

With a suburban feel and urban perks, Ridgewood is consistently affordable. It offers convenient subway access and a strong sense of community.

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5. Prospect Lefferts Gardens, Brooklyn

• Average Room Price: $1,090
• Best Month to Rent: April 2024 ($1,030)
• Worst Month to Rent: June 2024 ($1,170)

Mid-spring offers great savings. Known for historic homes and a tight-knit community, it’s a charming place to call home. The area is well-served by public transit.

Find rentals starting from one month in Prospect Lefferts Gardens

6. Central Harlem, Manhattan

• Average Room Price: $1,100
• Best Month to Rent: January 2024 ($980)
• Worst Month to Rent: June 2024 ($1,210)

Central Harlem is a winter wonderland for renters, offering cultural richness and history at a bargain. It’s well-connected by subway and bus lines.

Find rentals starting from one month in Central Harlem

7. Crown Heights, Brooklyn

• Average Room Price: $1,120
• Best Month to Rent: May 2024 ($1,050)
• Worst Month to Rent: February 2024 ($1,170)

Best rates in late spring, with a rich cultural history and active community scene. The area is known for its diversity and excellent transit links.

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8. Astoria, Queens

• Average Room Price: $1,150
• Best Month to Rent: January 2024 ($1,020)
• Worst Month to Rent: April 2024 ($1,220)

Affordable at the year’s start, Astoria is a cultural hotspot with a dynamic food scene. It’s easily accessible via multiple subway lines.

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9. Bushwick, Brooklyn

• Average Room Price: $1,150
• Best Month to Rent: March 2024 ($1,110)
• Worst Month to Rent: June 2024 ($1,210)

Bushwick is cheaper in late winter but pricier come summer. It’s an artistic enclave with a unique vibe, well-connected by public transportation.

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10. Prospect Heights, Brooklyn

• Average Room Price: $1,180
• Best Month to Rent: January 2024 ($1,150)
• Worst Month to Rent: February 2024 ($1,210)

Plan for January to save. This neighborhood is trendy, with strategic planning saving you big. The area offers excellent subway access and a vibrant atmosphere.

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11. Bedford-Stuyvesant, Brooklyn

• Average Room Price: $1,200
• Best Month to Rent: January 2024 ($1,130)
• Worst Month to Rent: June 2024 ($1,250)

Cheapest at the year’s start, with a steep rise in summer. Known for its iconic brownstones and cultural vibe, it’s a great area with good public transport options.

Find rentals starting from one month in Bedford-Stuyvesant

Finding a budget-friendly rental in NYC doesn’t have to be impossible. With our data-driven insights and expert tips, you can navigate the rental market with confidence. Happy apartment hunting!