Apartments for Cheap

Questions and Answers

Your Questions About Cheap Apartments For Rent In New York

January 13, 2013

Linda asks…

the cheapest place to live in upstate new york?

Where in upstate new york is it the least costly to live, rent an apartment and such.

Administrator answers:

You might want to look at rochester

Jenny asks…

What is the cost of life on the Upper East Side?

Could anyone with experience in New York City tell me what the average cost of living on the upper east side would be?

It would be great if you could give me a break down of what you spend your money on. (:
I’m planning on moving there next fall to attend NYU.

Thanks
What about Brooklyn as well?
Thanks!

Administrator answers:

It really depends, if you live in the Yorkville area, which is east of 3rd Avenue, typically between 72nd and 96th street, then rents are fairly reasonable by Manhattan standards. You could probably find something in the area for around $1200 a month, if you need it to be even cheaper that that, you are going to have to share with someone. Even at $1200 a month this is really the cheapest possible, and most apartments will run for for more than $2000 a month.

Other than rent, cost of living in New York is not particularly different from other American cities. There’s always going to be really expensive places to buy food and go out and party etc, but it’s not like all places are like that. You can find normal budget stores here, just like anywhere else.

Brooklyn is somewhat in the same price range as Yorkville, but if you compare dollar by dollar, you’d probably get a little bit larger apartment for the same price. Not sure how important than is, but each to their own.

That being said, both Upper East Side and Brooklyn are sort of annoying places to get to and from if you’re going to the NYU campus in the Village. On the east side, the subways are pretty bad, and Brooklyn is a fairly long commute.

If you can add some information about your budget, I could probably give you some better advice on where to look. Also which NYU campus you’re going to would be handy.

Btw, the NYU residence buildings are generally very nice, although they are not really any cheaper than market apartments.

Betty asks…

Are rent rates in Financial District going down?

I’ve noticed in the New York Times Real Estate listings, many Financial District listings are cheaper than they were a few months ago.

For example I’ve seen a two bedroom, one bathroom in the middle of Financial District go for $3,400 and a three bedroom, one bathroom in the middle of Financial District go for $3,600 or do. A few months ago these places would’ve cost around $3,800 and $4,350.

Are rents in Financial District falling?

Administrator answers:

No.

The real estate section of the NY Times just put out an article stating that rents in Manhattan are at an all time high right now. The financial district is a particularly hot neighborhood. You can’t go by listings you’ve seen. Unless you’ve physically gone to look at an actual apartment, you have no idea why it’s listed for that amount of money.

Bottom line, if an apartment seems less expensive than you expect, you’ve got to wonder what’s wrong with it.

Thomas asks…

how much on average is the cost of living in New York?

Im interested in moving there and how much on average do you have to pay for each of the following establishments?

Rent
Groceries
Gas/electricity
Transportation
& any others.

And what sort of yearly salary should I be aiming for to comfortably live there (ideally in Manhatton) without any complications. i.e. missing rent, not being able to afford food & so on.

Administrator answers:

Well… The rent for a 1 bedroom apartment is probably $1900. Groceries on average would cost an average american about $450. As for transportation, there is no need for a car in New York because of their awesome subway system. This may cost around $100 per month. Gas/electricity aint cheap in the big apple, especially around winter. I would say with heating and airconditioning, it should total up at around $380 a month – average. Also if internet, phone, and cable is a necessity, then a bundle (1 yr. Contract deal) should cover the three of those things for around $130 a month.
All I have to say is if you’re looking to live in Manhattan, which is probably the most expensive city in the country, then you’ll need about $170,000 a year at least to stay afloat. If this is too much try other locations such as the bronx whic are considerably cheaper.

Mandy asks…

what neighborhood in new york city is the best place to live for a young adult?

I want to look for an RN position in new york city and would not mind taking a subway to get to work. i plan on keeping my budget for an apartment around 1500 a month and will most likely live alone. I want to live somewhere where there is a lot going on but not in an area with tons of tourists!

Administrator answers:

I would say that the best place, on your budget, and with these requirements, is the Upper East Side. I’m not kidding.

The UES has a reputation for being the wealthy-snooty part of NY, and that’s true from Fifth Avenue over to Park, but if you look from Lexington Avenue to the river, the crowds get younger, the apartments get cheaper, and the scene gets more fun. The best part is that the UES has stubbornly resisted the influx of national chain stores, so most of the businesses are local.

As for rent, you can almost certainly expect to find a place in your price range, just expect it to be very small (especially if you’re coming from a suburban background). I had a friend who, about two years ago, was paying 1250 a month for 500 sq ft overlooking 3rd avenue, and he loved it.

Have fun and good luck with the job hunt.

Charles asks…

How much does it cost to buy a house in the USA?

What is the average price of housing? And how much is it to rent per month on average?
I’m not thinking of moving, just wondering if it was less or more expensive than Australia. Housing prices over here don’t differ a whole lot really. They used to but not anymore.
OK well I am in WA and for a nice home in a middle class suburb will cost around $500-650k The cheaper suburbs are around $280-400k and the flashier area homes about $800k-millions.
Housing has gone up so much in the last few years it has gotten ridiculous and first homebuyers are having to pay $2000-3000 per month for their repayments! Our house cost $350k and our repayments are $2500 a month which is like 80% of our entire income as my husband is still at uni at the moment.

Administrator answers:

Cost of a house? The cheapest single family detached houses are probably around michigan right now, around $30,000 (for the lower end). For most of the country it would be reasonable to expect to pay $200,000-$300,000 range – but you can still get a townhouse for the 100k-200k range. For more expensive markets (New York, Cali, etc) It is challenging to get a not so great house for less than 300k (great being judged by location) and can go up into the millions.

As for renting an apartment – it really depends on where and what your needs are. If you’re willing to share with several people you can often pay 1/2 as much as living alone. In more depressed areas that is the $200-400/month range, 400-800 for most areas, and maybe 800-2500 for larger cities.

I’d recomend you take a peak at www.craigslist.org for whatever destination you have in mind. If you’re a foreign student looking to come to america – contact the student organization of your prospective school, they often have foreign-born ethnic clubs that assist new students with this sort of new information.

Personally, I live in Thailand, easy to rent a very nice place for USD $100/month here for 8 months and work the other 4 months in london – the pound still goes very far here.

(Added)

I was looking at buying property in australia recently – even though the market has gone up a lot there – it’s still better than the american market. Avoid places that have gone up a lot (like perth) for more steady places (I like adalea in south australia personally). When buying investment prperty, it’s best to look at the capitalization rate (The % of net income you will get on the purchase price). On the whole the cap rate in australia is still higher than the USA (an average I am guessing based on personal knowledge, some markets will outperform others naturally).

Not to mention that it’s easier to get a loan in australia than america – a colleague of mine got approved for a 95% mortgage just yesterday in autralia – you can’t get that anywhere stateside these days.

Ken asks…

What job can I get in New York City that pays $5k month salary?

So I can afford to live in those expensive apartments that cost $1,000 or more and can keep one and afford it. What jobs in New York City that pays people $5k month salary, Where should I go to work at?

Administrator answers:

But let me ask you this …how much do u pay for you rent and where do u live because $1000 is pretty cheap lollll…i live in ny and u dont need 5k to live in a $1000 apt..

George asks…

Which of the five boroughs in New York City is the cheapest?

I understand New York is overall expensive, but which of the five boroughs is the cheapest? I’d like to move there in the near future. How expensive is Brooklyn?

Administrator answers:

I’d say either Staten Island or The Bronx gives you the best value for your money. I saw an ad for a 2-bedroom for $1,400 in a garden apartment in a good area of Staten Island, and if you rent out an apartment from somebody’s house, it would probably be lower (maybe $1100 or $1200 for a 2-bedroom). Obviously, 1-bedrooms and studios are cheaper, and if you’re willing to go to the North Shore, you could probably get a 2-bedroom for less than $1000 if you can tolerate a little sketchiness.

I hope this information was very helpful.

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