Renting in NYC is unlike anywhere else. The competition is fierce, the costs are high, and the rules are different. But with the right preparation, you can find a great apartment without losing your mind—or your savings. This guide covers everything first-time renters need to know.
Welcome to NYC Apartment Hunting
Before diving in, here's what you should know: NYC moves fast. Apartments are listed and rented within days. Be prepared to act quickly, but never skip your research.
Use StreetSmart to research any building for free1. Understanding the Budget
The 40x Rule
Most NYC landlords require your annual income to be 40 times the monthly rent. This is non-negotiable for most buildings.
Income Requirements
Don't Meet 40x? You'll Need a Guarantor
A guarantor is someone (usually a parent or relative) who co-signs your lease and agrees to pay if you can't. Guarantors typically need to earn 80x the monthly rent and live in the US (some landlords require NY/NJ/CT).
No guarantor available? Companies like Insurent and TheGuarantors can act as institutional guarantors for a fee (typically 70-90% of one month's rent).
Upfront Costs
NYC requires a lot of cash upfront. Budget for:
What You'll Pay at Signing
For a $2,500/month apartment with a broker fee, that's ~$8,750 due at signing.
Learn how to avoid broker fees →
2. Documents You'll Need
NYC rental applications are thorough. Have these ready before you start looking:
Application Document Checklist
- Government-issued photo ID
- Social Security number
- 2-3 recent pay stubs
- Employment verification letter
- Last 2 tax returns (W-2s)
- 2-3 months bank statements
- Landlord reference letter
- Personal references (2-3)
- Credit report (or $20 fee)
- Guarantor docs (if needed)
Pro tip: Scan everything and keep a digital folder ready to email instantly.
3. Choosing a Neighborhood
NYC has 300+ neighborhoods across 5 boroughs. Your choice depends on budget, commute, and lifestyle.
Compare all neighborhoods by building quality →
4. Researching Buildings
This is where most first-time renters fail. They find a beautiful listing, fall in love with the photos, and sign without research. Then they discover bedbugs, a slumlord, or no heat in winter.
Before ANY Apartment Viewing, Check:
- HPD violation history — How many? Are they serious?
- Landlord reputation — How are their other buildings rated?
- Pest history — Any bedbug, roach, or rat violations?
- 311 complaints — What are current tenants dealing with?
- Rent stabilization — Could protect you from huge increases
Read our complete building research guide →
5. The Apartment Viewing
When you visit an apartment, check these things:
- Water pressure — Turn on the shower
- Cell service — Test in every room
- Natural light — Visit during the day
- Noise levels — Listen for neighbors, street noise
- Signs of pests — Check under sink, behind stove
- Windows — Do they open? Any cracks?
- Appliances — Test stove, fridge, etc.
- Storage — Closet space is limited in NYC
Full list of questions to ask →
6. Common First-Time Mistakes
Mistakes to Avoid
- ✗Not having documents ready
Good apartments go in hours. Have everything prepared in advance.
- ✗Skipping building research
5 minutes on StreetSmart can save you from a nightmare landlord.
- ✗Sending money before seeing the apartment
Common scam. Never wire money or pay deposits without viewing in person.
- ✗Not reading the lease
Understand every term. Ask about anything unclear.
- ✗Forgetting move-in documentation
Take photos of everything when you move in. Protects your deposit.
7. Know Your Rights
As a NYC tenant, you have strong legal protections:
- Right to a livable apartment — Heat, hot water, no pests
- Maximum 1 month security deposit
- 14-day deposit return after move-out
- Eviction requires court process — No illegal lockouts
- Right to repairs — Call 311 if landlord won't fix things
Read the complete tenant rights guide →
8. Realistic Timeline
Apartment Hunting Timeline
Helpful Resources
- StreetSmart — Research any building for free
- Building Rankings — See best and worst buildings
- Landlord Rankings — Check landlord reputation
- Rent Stabilization Guide — Know if you qualify
- 311 — Report housing complaints
- Met Council on Housing — (212) 962-4795 — Free tenant help