Apartments Under $5,000 in NYC
649 quality-rated buildings • Updated 2025
Rent Statistics for Under $5,000
Finding Rent Under $5,000 in New York City (2025)
Looking for apartments under $5,000 per month in NYC? You're in the right place. We've analyzed 649 buildings across all five boroughs to help you findluxury-adjacent housing that matches your budget. At this price point, expect to find 2-bedrooms, 3-bedrooms, luxury 1-bedrooms – perfect for high-income professionals, families, those wanting prime locations. The average quality score for buildings in this range is 67/100, and many buildings score above 70, indicating good quality.
Best Buildings Under $5,000 by Borough
Apartments Under $5,000 in Brooklyn
160 buildings • Avg rent $1,575/mo • Avg score 64/100 • ~10% cheaper than Manhattan
Apartments Under $5,000 in Queens
149 buildings • Avg rent $1,611/mo • Avg score 78/100 • ~20% cheaper than Manhattan
Apartments Under $5,000 in Manhattan
98 buildings • Avg rent $1,564/mo • Avg score 62/100
Apartments Under $5,000 in The Bronx
83 buildings • Avg rent $1,482/mo • Avg score 54/100 • ~30% cheaper than Manhattan
Apartments Under $5,000 in Staten Island
10 buildings • Avg rent $1,333/mo • Avg score 74/100 • ~35% cheaper than Manhattan
Explore Other Price Ranges
What Type of Apartment Can You Get for Under $5,000?
🏠 Studios
Studios at this price point include many upgraded units with amenities in desirable neighborhoods. Size: 400-550 sq ft with modern finishes.
🛏️ 1-Bedrooms
1-bedrooms at under $5,000 offer good options across most neighborhoods. Many include building amenities. Typical: 600-800 sq ft.
🛋️ 2-Bedrooms (Sharing)
2-bedrooms become widely available at this price. Good options in most neighborhoods. Split with a roommate for ~$2,500 each.
Best Neighborhoods for Rent Under $5,000
💎 Best Value (More Space, Lower Cost)
- • Bushwick, Brooklyn - Creative scene, L train
- • Crown Heights, Brooklyn - Brownstones, parks
- • Astoria, Queens - Great food, N/W trains
- • Sunnyside, Queens - Community feel, 7 train
⭐ Best Quality (Higher Scores)
- • Park Slope, Brooklyn - Top-rated buildings, Prospect Park
- • LIC, Queens - Newer buildings, quick Manhattan commute
- • Fort Greene, Brooklyn - Historic, well-maintained
- • Upper East Side - Classic NYC, doorman buildings
Tips for Finding Apartments Under $5,000 in NYC
Finding an apartment under $5,000 in NYC is challenging but achievable with the right strategy. Our data shows 649 buildings in this price range with an average quality score of 67/100. Here's how to maximize your search:
1. Expand Your Borough Search
Under $5,000 opens up more options across all boroughs. Brooklyn and Queens offer the best balance of price and quality, while Manhattan becomes accessible in neighborhoods like East Harlem, Washington Heights, and the Financial District.
2. Check Building Quality Scores
Lower rent doesn't always mean lower quality. Many well-maintained buildings have affordable rents due to rent stabilization or location. Focus on buildings with scores above 70 – they typically have fewer violations, responsive management, and better living conditions. Our top-rated building in this price range scores 95.9.
3. Look for Rent-Stabilized Units
Rent-stabilized apartments offer long-term value with capped annual increases (typically 2-4%). These units are common in buildings built before 1974 with 6+ units. While initial rents may be slightly higher, the protection from market-rate increases provides significant savings over time.Learn more about rent stabilization →
4. Check Violation History
Before signing a lease, review the building's violation history. Buildings with many open violations may have heat/hot water issues, pest problems, or structural concerns that affect your quality of life. Our building pages show complete violation histories and highlight recurring issues.
5. Consider Roommate Situations
At under $5,000, you have flexibility – live alone in most neighborhoods or split a premium apartment with a roommate for ~$2,500 each and enjoy building amenities like gyms and rooftops.
6. Time Your Search
NYC rent prices fluctuate seasonally. Winter months (December-February) typically see 5-10% lower rents and more negotiating power. Summer (May-August) is peak season with higher prices and more competition.See our rent calendar tool →
Frequently Asked Questions: Apartments Under $5,000
Can I find a 1-bedroom apartment under $5,000 in Manhattan?
Yes, 1-bedrooms under $5,000 are available in various Manhattan neighborhoods including the Upper East Side, Midtown East, and parts of the West Side. Quality and size vary, so checking building scores is important.
Is $5,000 enough rent for 2 people in Brooklyn?
Absolutely! Under $5,000 works well for two people in Brooklyn. You can find 2-bedrooms in neighborhoods like Bushwick, Bed-Stuy, Crown Heights, and Sunset Park. Each person pays ~$2,500/month with good transit access.
What's the catch with cheap apartments in NYC?
Not all affordable apartments have catches, but common issues to watch for include: older buildings with deferred maintenance, longer commutes to Manhattan, smaller unit sizes, walk-up buildings (no elevator), and limited amenities. That's why we provide quality scores – buildings scoring 70+ typically have fewer issues regardless of price. Always check violation history and visit in person before signing.
Are these rent prices accurate for 2025?
Our rent data is crowdsourced from user submissions and updated regularly. Prices shown are median rents based on reported data and may not reflect current listing prices. NYC rent changes frequently – use these as estimates and verify current pricing directly with landlords. The average rent in this category is $1,563/month based on 649 buildings.
Best Budget Neighborhoods
Our guide to the most affordable areas in NYC with good quality of life.
Rent Stabilization Guide
How to find and identify rent-stabilized apartments in NYC.
First-Time Renter Guide
Everything you need to know about renting your first NYC apartment.