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Apartments for Rent in New York under $500

Apartments for Rent in New York under $500. 49 Rentals Available
49 Rentals Available
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Frequently asked questions

When were prices and availability in New York last updated?

Prices and availability in New York were last updated on 16 Jul 2026.

What are the best apartments in New York?
What type of rental buildings are in New York?

In New York 46% of the housing is rented out compared to 54% of homes are owned, according to the most recent Census Bureau estimates. 28% of New York's apartments are found in large buildings of 50 units or more, 63% are located in smaller apartment complexes with less than 50 units, and 9% are single-family rentals.

Renting apartments in New York under $500

Are you looking for a smart space where you can easily combine comfort with convenience? You will surely find the property that perfectly fits your needs with this variety of options. RentCafe offers you 49 apartments for rent in New York from 33 modern buildings, so you’ll certainly find something suitable for you. If you want to live alone or with your partner, you might want to look for a studio or browse through our selection of 1 bedroom apartments. If you need more space but you don’t want to spend more than necessary on a monthly rent, check out our 2 bedroom or 3 bedroom apartments for less than $500, and make the most out of your budget.

Finding the best rental near you

New York is an amazing place to call home, with several rentals under $500 for you to choose from. There are many options and filters you can apply to your search to make the process easier and to find your next apartment faster and more efficiently. Asking yourself ‘are there any cheap apartments near me’? With our helpful filters, you can easily find the home of your dreams that also fits within your budget. With rent prices as low as $108 in New York, you can find affordable and appealing apartments that match your requirements. Sort your search by ‘Rent’ ascending to see the cheapest ones at the top of the list. As soon as you find your perfect apartment, make sure to contact the property to check for availability or apply online directly on RentCafe.