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Apartments for Rent in New York City, NY under $500

7 Rentals Available
Apartments for Rent in New York City, NY under $500. 7 Rentals Available
  • A silver car is parked on the side of the street in front of a building.
    5
    Today

    The New 1050 Hancock Street HDFC, Brooklyn, NY 11221
    STUDIO $486+
  • a kitchen with wooden cabinets and stainless steel appliances
    24
    Today

    75-10 Grand Central Parkway West, Forest Hills, NY 11375
    STUDIO Ask for Pricing
  • a rendering of a grey building on a city street
    84
    Today

    2633 Ocean Avenue, Brooklyn, NY 11229
    STUDIO $350
  • A tall apartment building with a bicycle parked in front.
    18
    Today

    226 Linden Blvd, Brooklyn, NY 11226
    STUDIO $147
  • a kitchen with black appliances and granite counters and wood cabinets
    Today

    975 Tiffany Street, New York, NY 10459
    Income Restricted
    STUDIO Ask for Pricing
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  • A street view of a building with a storefront at the corner.
    9
    Today

    152 Norman Avenue, Brooklyn, NY 11222
    STUDIO $500
6-0-county
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Getting around in New York City, NY

91 /100
Walker's Paradise
100 /100
Rider's Paradise
74 /100
Very Bikeable
Walk Score®: 91, Transit Score®: 100, Bike Score®: 74

Frequently asked questions

When were prices and availability in New York City, NY last updated?

Prices and availability in New York City, NY were last updated on 1 Dec 2025.

What are the best apartments in New York City, NY?

The best apartments in New York City, NY are: SKY, 27 on 27th, 544 Union, 568 Union and 62-41 Forest Avenue.

What type of rental buildings are in New York City, NY?

In New York City, 67% of the residents are renting compared to 33% owning a home, according to data from the U.S. Census Bureau. Large-scale apartment buildings with more than 50 units represent 36% of New York City’s rentals, 61% are small-scale complexes with under 50 units, and 2% are single-family rentals.

Apartments in New York City, NY 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 7 apartments for rent in New York City, NY 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 City, NY is 546 Sqft, 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!