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Apartments for Rent in New York under $500
10 Rentals Available


New York Demographics

  • Total Population19,572,194
  • Female 9,500,902
    Male 10,071,292
  • Median Age43

Average Rent in New York

  • New York Average Rental Price, July 2021 $2,220 /mo

New York Apartment Rent Ranges

New York Rent Trends

Average Rent Jul / 2018 Nov / 2018 Mar / 2019 Jul / 2019 Nov / 2019 Mar / 2020 Jul / 2020 Nov / 2020 Mar / 2021 Jul / 2021
New York $2,056 $2,063 $2,116 $2,229 $2,244 $2,238 $2,216 $2,143 $2,110 $2,220
National $1,348 $1,357 $1,362 $1,394 $1,401 $1,403 $1,394 $1,397 $1,404 $1,482
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New York Households

  • Total Number of Households7,343,234
  • Family 4,632,289
    Non-family 2,710,945
  • Children 2,151,245
    No Children 5,191,989
  • Average People Per Household2.52
  • Median Household Income$63,806
  • Median Housing Costs Per Month$980

New York Education Statistics

Apartments in New York under $500

Balancing snug and cheap is no joke when it comes to renting a place to live. “Are there any apartments near me under $500?” is a great question to start from. Knowing your budget means you’re one step ahead and on the right track. We’ve taken care of the rest and found 10 apartments for rent in New York on which you’ll spend less than $500. A small, cheap rental means you’ll have to budget your living space as well. The great news is that keeping it simple pays off in more than one way. The cost of utilities is likely to run low, and you get the added benefit of not having to spend too much time cleaning up the whole place. Smaller apartments are more likely to be closer to the city center, so there are potential cuts to your transportation costs too. And here’s one more very special secret to add to your book-of-perks: you’re less likely to overshop when you know your space is limited.

Rentals near you under $500

Our goal is to help you find cheap apartments that live up to your dreams without crushing your budget. It may be a long shot to go looking for 3 bedroom apartments or even 2 bedroom for less than $500. The average rental size in New York is 820 Sq.Ft., but the $500 limit will probably narrow your search to places with a smaller square footage. Go through our listings and be on the look-out for a hassle-free studio or a 1 bedroom apartment. We trust you’ll turn it into a cozy home which is also budget-friendly to the core.

Finding a home nearby is easier than you think. Check out our Apartments Near Me page and take your pick!