The cost of rent in New York City has reached an all-time high. With a constrained real estate market, it’s extremely hard for anyone moving to the city — young professionals and millennials, in particular — to find affordable places to live in the city, especially in Manhattan. On average, the monthly rent for a one-bedroom apartment in New York City costs between $2,700 to $2,900.
Here, we’ll explore the different boroughs of New York City, breaking it down to neighborhoods you can actually afford to live in and finding the cheapest places to live within those areas.
Upper Manhattan is a hotspot for affordable apartments. This area boasts incredible views of the Hudson River, (arguably) the best comfort food in the city, and a rich heritage of music, culture, and art. The commute to downtown is made easy by the 1/2/3 subway trains as well as the A/C/E trains. The average cost of rent for a one-bedroom apartment in this part of the city sits between $1,775 and $2,145 a month.
Save money by living at Common Hamilton in Hamilton Heights. With rents starting at $1,315, the home comes with all the classic amenities of a Common coliving home, including a furnished, private bedroom, beautiful, shared spaces, and so many free things — free onsite laundry, free weekly cleanings, free WiFi, free smart TV, free household essentials. No more conflicts with your roommates about chores and toilet paper. Live conveniently at Common Hamilton.
Another up-and-coming area in the city is Ridgewood, Queens. It’s a residential neighborhood with a welcoming community, tons of charming local businesses, and (of course, we can’t leave out) amazing food. Some of our favorite spots include Stay Forever and Water & Light. A one-bedroom apartment in Ridgewood costs around $2,000 per month.
Pay one all-inclusive rent — $1,200, $1,195, and $1,200, respectively — at Common Cypress, Common Fairview, and Common Putnam. These coliving homes in Ridgewood are in close proximity to each other, which means you’ll always be invited over for impromptu events and gatherings. Each home comes with large community spaces and furnished rooftop decks where you can host your next movie marathon or potluck dinner. Common’s coliving homes in Ridgewood are some of the best deals in the city.
Clinton Hill – Brooklyn
With an average rent of $2,460 for a one-bedroom apartment, Clinton Hill is another bargain area in the city. You’ll get a run for your money as the neighborhood features green, leafy streets, historic brownstones, and fun venues for people of all ages. From killer cocktail bars and restaurants to places like Brooklyn Navy Yards, Clinton Hill’s got everything you need to feel completely at home.
For $1,300 and $1,375, respectively, you can rent a beautiful room at Common Grand and Common Classon. Expect a private bedroom and other large community spaces, fully furnished with high-quality furniture. Think West Elm, cb2, and Restoration Hardware. Your kitchen will come stocked with pots, pans, and cutlery and the bathroom with toilet paper. On top of that, free weekly cleanings, free laundry, free WiFi, and utilities are included in your rent. No extra fees involved when coliving in Clinton Hill.
Crown Heights, Brooklyn
Crown Heights is another eclectic and happening enclave in Brooklyn, with easy access to Manhattan via the A/C and 2/3/4/5 trains. Home to the Brooklyn Botanic Garden and a never-ending supply of fantastic coffee, regional cuisines, and trendy shops, Crown Heights is the perfect neighborhood to settle down. Plus, several Brooklyn staples surround the neighborhood: Brooklyn Botanic Garden, Brooklyn Museum, and Prospect Park. The average monthly rent for a one-bedroom comes out to $2,100.
Common Albany, Common Sterling, Common Kingston, Common Brower, and Common Herkimer are all located in Crown Heights, with rents ranging from $1,100 to $1,300. In addition to all other advantages of coliving (furnished spaces, free weekly cleaning, free WiFi, free household essentials), Common members can take full advantage of member perks, including discounts at major brands (think Classpass, Brooklinen, and Talkspace) as well as free events around the city. Become a member today.
One of Brooklyn’s most culturally rich neighborhoods, Bed-Stuy offers a welcoming, lively, and ever-changing community along with affordable housing. For an average of $2,200 a month, you can find a one-bedroom apartment in Bed-Stuy. The neighborhood is teeming with local treasures: BKLYN Blend (fresh juices and gourmet sandwiches), Peaches HotHouse (fried chicken and Southern treats), Black Swan, C’mon Everybody, and Dynaco.
Around Prospect Park – Brooklyn
Neighborhoods around Prospect Park — such as Park Slope and Prospect Lefferts Gardens — are highly desirable, as they’re just a few stops from the bustling city and are lined with quaint coffee shops, trendy boutiques, arenas, theater venues, and more. Nearby, Atlantic Center Mall is home to over 35 brand name stores for all your shopping needs, and the Brooklyn Academy of Music offers intimate, must-see performances. On average, a one-bedroom apartment in this part of the city ranges from $2,560 (Park Slope) to $2,650 (Prospect Heights).
Common has coliving homes and traditional apartments in these neighborhoods at Common Dean (starting at $1,300), Common Baltic (starting at $1,975) and Common Lincoln (starting at $1,050). For exceptional value, you can have access to amenities, such as a 24-hour gym and rooftop deck, as well as discounts to major national and local brands.
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On average, Common coliving homes in New York rent for $1,600 per month. You save a ton of money when you live at Common since WiFi, laundry (and detergent), household essentials, professional cleaning, incredible amenities, and utilities are already included in your rent. Take a free tour of Common coliving homes in New York City today.