Most Affordable Neighborhoods for Renters in Manhattan

If you don't want to go to the outer boroughs, then Inwood is the most affordable part of Manhattan. The median rent for a one-bedroom there is $1,950.

In Manhattan and Brooklyn, the gap between the most and least expensive neighborhoods is the steepest. In NoMad, the median rent for a one-bedroom is $5,575, which is nearly $3,600 more expensive than Inwood. In Washington Heights, the median rent for a one-bedroom is $2,275, and in West Harlem it's $2,565.

Rents depend on how far you are from downtown Manhattan. Both Inwood and Washington Heights are served by the 1 and A trains, providing convenient transportation options. West Harlem is the most southerly of these three neighborhoods.

Housing in these communities consists primarily of pre-war co-op apartments, usually with six floors. As a renter, there are more hurdles to jump through when applying to rent a co-op apartment; you'll need to show your financial status and seek board approval.

West Harlem - also known as Manhattan - is roughly located between West 122nd and West 134th Streets and has several rental buildings over six stories, including the Riverside Park Community Complex, a group of six high-rise buildings built in 1975. For transportation, the station at 125th and 137th Streets provides access to the No. 1 train, and you'll need to walk east to St. Nicholas Avenue to take the A, B, C and D trains.

Fordham University and Columbia University are both here, so you'll have competition from students who are looking to start renting three or four bedroom apartments in the summer. So if you want a bigger place, look in the off-season and you'll usually find less competition.

The most affordable neighborhoods for Brooklyn renters

As in Manhattan, the gap between the most affordable neighborhoods and the least affordable neighborhoods in Brooklyn is wide, at about $3,600.

The most affordable neighborhood in Brooklyn is Gravesend, a small, populated area adjacent to the south side of Bensonhurst. It is bordered by Avenue P to the north, Ocean Parkway to the east, Shore Parkway to the south and Stilwell Avenue to the west. The median rent for a one-bedroom in Gravesend is $1,695.

The second most affordable area in the district is Bath Beach, with Sheepshead Bay coming in third.

Bath Beach is near the water and nearby Dyker Beach Park. In terms of transportation, the F, D and N lines all pass through Gravesend. Bath Beach is served by the D train line.

Sheepshead Bay is located east of Gravesend, with Midwood to the north, Grayson Beach to the east, and Brighton Beach and Homecrest to the west. There are B and Q line trains here.

You won't find elevator buildings or buildings with laundry rooms in these areas, which makes them even more affordable.

One advantage of these neighborhoods is parking - parking is notoriously hard to find in Brooklyn, but you can find off-street parking here more easily than in other parts of the borough.

The Best Neighborhoods for Renters in Queens

The most affordable neighborhood in Queens is Woodhaven, where the median rent for a one-bedroom is $1,700.

Woodhaven is close to major roads and highways - Atlantic Avenue, Jamaica Avenue, Woodhaven Avenue, Jackie Robinson and Van Wyck Avenue. There are also A and J trains and express buses to Manhattan. The area is very walkable, and the outdoor spaces, including Forest Park and Ridgewood Reservoir, are also a great asset to the area - as one recent transplant can attest.

Middle Village, north of Woodhaven, is the second most affordable neighborhood, with a median rent of $1,720 for a one-bedroom. South of Woodhaven, South Ozone Park is the third most affordable area - with a median one-bedroom rent of $1,750. Woodhaven is fairly accessible, but you'll need to take buses and trains to get to most places from Middle Village.

Change is part of the landscape of these neighborhoods. Woodhaven saw an influx of inventors buying multi-family buildings during the pandemic.

Many buyers in Middle Village and South Ozone Park used these properties as primary residences and rented them out, or rented out both units exclusively as investment properties. There are few brand new rental buildings in these areas.

While some basement apartments have been converted to safe and livable apartments, not all are. A flooded basement can be fatal. Make sure you do your homework before renting and make sure the apartment is legal.

In these areas, you won't find landlords offering anything like a free month, and you're more likely to get those deals in more expensive places like Long Island City. There are also very few new rental buildings being built in these areas.

The most affordable neighborhoods for renters in the Bronx

The Allerton neighborhood in the Bronx has the lowest median rent in the city, at $1,595 for a one bedroom.

Once ranked as one of the eight best neighborhoods in the Bronx, Allerton is the area north of Walling Avenue, east of Bronx Park and south of Gun Hill Road, also known as Bronxdate or Laconia. streets lined with brick row houses as well as multi-family homes and some single-family homes.

Parkchester is the second most affordable neighborhood in the Bronx - the median rent for a bedroom is $1,600, while Wakefield is the third most affordable neighborhood with a median rent of $1,700.

The gap between the most affordable and least affordable neighborhoods in the Bronx is the smallest in the city, but it has still grown over the past year.

In Mott Haven, the most expensive area of the borough, the median price for a bedroom is $2,946. That's a $1,351 difference compared to Allerton. (Last year, the difference between the borough's most affordable and most expensive neighborhoods was nearly $800.)

Parkchester, a 129-acre planned community in the eastern Bronx, is dominated by large apartment developments - Parkchester North and Parkchester South - with subletable apartments. Rental housing is also available in multi-family buildings in the area. The 6 train is one of the best ways to get from Parkchester to Manhattan.

Wakefield is the third largest affordable community located north of Allerton at the end of the #2 train. The buildings are typically small multi-family buildings, although there are several pre-war rental buildings with 30 to 80 apartments.