The Cheapest Neighborhoods to Live in NYC Right Now

Let’s be honest – New York City isn’t exactly famous for affordability. But if you know where to look, there are neighborhoods that offer great value, especially for students, young professionals, and first-time renters trying to make it in the city without blowing their entire paycheck on rent.

At Roomrs, we’re all about helping you live comfortably and affordably in NYC. That’s why we’ve rounded up some of the cheapest neighborhoods to live in NYC right now, plus what makes each area unique, and what kind of apartment options you can expect to find.

Whether you're searching for a studio, a shared apartment, or a fully furnished co-living space, this guide has your back.

What Makes a Neighborhood “Affordable” in NYC?

In NYC terms, “affordable” doesn’t necessarily mean cheap, but it does mean:

• Below-average rent for the borough
   
• Good value relative to location and transit access
   
• Options for shared or smaller apartments to reduce costs
   

Keep in mind that prices vary by apartment type. A walk-up studio might rent for less than a shared three-bedroom with amenities.

Cheapest NYC Neighborhoods to Consider in 2024

1. Washington Heights (Manhattan)

Average Rent: ~$1,800–$2,300/month for 1BR
Vibe: Classic uptown energy with a mix of families, students, and longtime locals.
Transit: A, C, 1 trains; under 30 minutes to Midtown

Why it’s affordable:

• Predominantly walk-up buildings
   
• Not a major nightlife or business hub
   
• Still developing compared to downtown Manhattan
   

Bonus: You'll find large pre-war apartments, leafy streets, and access to Fort Tryon Park and the Cloisters. Roomrs has furnished walk-ups here that offer great value for first-time renters.

2. Bushwick (Brooklyn)

Average Rent: ~$1,900–$2,400/month for 1BR
Vibe: Artsy, eclectic, and full of energy, Bushwick is Brooklyn’s creative core.
Transit: L and J/M/Z trains; ~20–30 minutes to Union Square

Why it’s affordable:

• Abundant inventory and ongoing development
   
• Many units in older, industrial buildings
   
• Creative community favors shared living
   

Bonus: You’ll find loft-style spaces, converted warehouses, and street art on every corner. Roomrs offers shared and private units here, perfect for remote workers and artists on a budget.

3. Inwood (Manhattan)

Average Rent: ~$1,700–$2,200/month for 1BR
Vibe: Quiet, residential, and surrounded by green space
Transit: 1 and A trains; ~35 minutes to Midtown

Why it’s affordable:

• Located at the top of Manhattan
   
• Fewer amenities and nightlife spots
   
• Strong community feel, but often overlooked
   

Bonus: You get access to Inwood Hill Park, the only natural forest in Manhattan, and a calmer pace of life without leaving the city. Great for renters who don’t mind longer subway rides in exchange for peace and space.

4. Crown Heights (Brooklyn)

Average Rent: ~$2,000–$2,500/month for 1BR
Vibe: Diverse and fast-evolving, with deep cultural roots and a growing young population
Transit: 2, 3, 4, 5 trains; easy commute to Manhattan

Why it’s affordable:

• Slightly farther east than trendier areas like Prospect Heights or Park Slope
   
• Still more walk-ups and pre-war buildings than luxury towers
   
• Growing popularity keeps prices reasonable for now
   

Bonus: Great food, a thriving Caribbean community, and access to Prospect Park and the Brooklyn Museum. Roomrs has several co-living and private room options here.

5. Astoria (Queens)

Average Rent: ~$2,200–$2,700/month for 1BR
Vibe: Friendly, laid-back, and full of character
Transit: N and W trains; ~15 minutes to Midtown

Why it’s affordable:

• Still more affordable than Brooklyn for similar amenities
   
• More local shops, fewer national chains
   
• Low-rise buildings and walk-ups keep prices in check
   

Bonus: Astoria offers one of the best food scenes in NYC (Greek, Egyptian, Brazilian, you name it) and waterfront access at Astoria Park. It’s a great pick for anyone who wants space and savings.

6. Bed-Stuy (Brooklyn)

Average Rent: ~$2,000–$2,500/month for 1BR
Vibe: Historic brownstones, soulful energy, and a growing mix of students and artists
Transit: A, C, G, J, Z trains

Why it’s affordable:

• Larger housing stock means more options
   
• Lower rent compared to nearby Williamsburg or Clinton Hill
   
• Still seeing active development and price fluctuation
   

Bonus: Bed-Stuy is known for its brownstone-lined blocks, rich culture, and growing restaurant scene. Roomrs offers plenty of walk-up apartments and shared units that are both budget-friendly and full of charm.

7. Ridgewood (Queens)

Average Rent: ~$1,900–$2,400/month for 1BR
Vibe: Low-key, residential, and on the edge of Brooklyn’s creative zones
Transit: M and L trains; ~30–40 minutes to Midtown

Why it’s affordable:

• Slightly farther out but very livable
   
• More houses and small apartment buildings
   
• Less tourist traffic, more local living
   

Bonus: Ridgewood borders Bushwick and offers similar access to cafes, art spaces, and public parks at a more affordable price point.

How to Save Even More on Rent

Even in NYC’s more affordable neighborhoods, rent can add up. Here’s how Roomrs helps you stretch your budget:

Choose Co-Living

Private bedrooms in shared apartments can significantly reduce costs, especially when utilities and Wi-Fi are included.

Pick a Walk-Up

Skip the elevator and save hundreds per month.

Look for Flexible Lease Options

Avoid locking into a 12-month lease if you don’t have to. Roomrs offers flexible stays that work with your schedule.

Use Net Effective Rent Wisely

Watch out for listings that advertise net effective rent. Always ask for the gross monthly rent to understand your real monthly payment.

Why Affordable Doesn’t Mean Sacrificing Comfort

At Roomrs, we believe affordability shouldn’t mean settling. Our apartments come:

• Fully furnished
   
• With utilities and Wi-Fi included
   
• In well-connected neighborhoods
   
• On flexible lease terms
   
• With no broker fees
   

We make it easier to live in the neighborhoods you love without overspending or compromising your comfort.

Final Thoughts: NYC on a Budget? Yes, It’s Possible.

New York may be one of the most expensive cities in the world, but that doesn’t mean it’s out of reach. With the right neighborhood, the right housing setup, and a little help from Roomrs, you can enjoy city life without maxing out your budget.

From Washington Heights to Ridgewood, there are great deals to be found all with character, community, and convenience.