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How Much Rent Should I Expect to Pay in NYC?

How Much Rent Should I Expect to Pay in NYC?

How much rent you can expect to pay in NYC is greatly dependent on how much money you make and how much of a sucker you are. JK, income doesn’t matter that much, you’ll probably over spend any way. The general recommendation is that rent should be no more than 30% of your income. Thus a monthly income of $5,000 should strive to pay no more than $1,500 (5,000 x .3)/month. Unfortunately, this won’t always be the case in one of the most expensive cities in the world. NYC is very much about give and take. And since the city has a lot to offer, it has no qualms with taking. Keep in mind, while you do want to live comfortably in the city, committing to an apartment that is over your budget is a guaranteed way to get into debt. The overall average amount spent on New York City rent per month is $3,074. But there is plenty in between. Here is how much rent you can expect to spend from each NYC borough.

Bronx

The New York Yankees, Botanical Gardens, and the Bronx Zoo are some undeniable built-in amenities the Bronx offers along with art deco to marvel. Between Morris heights and University Heights the average rent is $1350/month. If Bronx is of interest to you get in quick, the rates are increasing faster than others. HERE are spaces that are lower than the average.

Queens

A personal fav- Queens is the epicenter of international cuisine. From authentic Greek in Astoria to Flushing’s Chinese fair, this borough is for New York’s foodies. This and a few other reasons may be why it is a little costlier to rent in Queens than Brooklyn. With a recent 5% increase, median rental price in Queens is $2,550 ( for a studio). With all the outings to be enjoyed, this is a great place to shack up with roommates. That way you have more money in your pocket for ALL the gyros. Considering the average cost- THIS listing is a steal. $700/month in Flushing with an insane amount of amenities. Also, no lease. Real talk.

Brooklyn

It takes no more than a single visit to be convinced to live in Brooklyn. My first walk along Brooklyn Heights Promenade is all it took me. To be near the live street music and dining scene will cost you on average $2,400/month for your own pad. Or do what I did and have house mates, cutting this cost into thirds. My first Brooklyn shack was much like THIS one. Having roommates afforded me to live in the city of my dreams without drowning in the cost.

Manhattan

There is a reason people romanticize Manhattan and it has nothing to do with Sex and the City. Manhattan is home to Time Square, Broadway, and pretty much everything food and entertainment. Among the concrete jungle there are even hidden green spaces. In this famously expensive borough average rent for a 1 bedroom is $3,400/month and counting. Fiercely steep for most, but just like those green parks, keep looking hard enough past the skyscrapers and you’re bound to run into what you were looking for.

Staten Island

The forgotten borough…coming in at an impressive rent average of $1300/month for a 1 bedroom. New Yorkers should be ashamed of ignoring the island. Yes, it is a pain in the ass to take the ferry to get to the city, but there are so many other goodies that make up for the trek. Did I mention rent is actually affordable? Beyond this, Staten Island is much less crowded and perfect if you’re a nature lover as  ⅓ of the island’s landmass is protected parkland. The most affordable borough may cost you travel time, but you won’t hear your bank account complaining. One lesson NYC taught me was to work harder and spend smarter. Be reasonable with your expectations and budget when shopping for an apartment in NYC. Regardless of the four walls you choose to sleep in, you’re still in the big city.