Where to Get the Most Space for Your Rent Money in New York

We get it: Most New Yorkers didn’t choose to live in the city because of all the extra space it affords them. In general, NYC real estate is known for being on the smaller (and pricier) side. That doesn’t mean that you don’t have options, though. For example, what if you could move to another one close by and get more space for the same (or even less!) rent money? How do you know if you’re getting the best bang for your buck in your neighborhood? It’s time to find out. 

Using our neighborhood rent data, we calculated where in New York you could get the most space for your rent money. Read on for the full list.

If you’re looking for lower rent prices and more square footage, there’s one neighborhood where you can find the best of both worlds: Bay Ridge in Brooklyn. Not only does Bay Ridge have the lowest median cost per square foot of any neighborhood we looked at ($2.70) as well as the lowest median rent for a one-bedroom apartment ($2,040), it also ranks as the No. 9 largest median area for an apartment of that size (750 square feet, tied with Morningside Heights).

To see the full list of neighborhoods we looked at, click here.

We looked at 50 neighborhoods across New York City and found several where rent was significantly higher and square footage lower than in bordering areas. Below, we dive deep into examples found in three boroughs: Manhattan, Brooklyn, and Queens.  

The words “savings” and “Manhattan” typically go together like oil and water, but even if you are living in the most expensive borough in NYC, there’s still areas where you can get a bigger bang for your buck.

The Flatiron District topped our list of most expensive neighborhoods to live in New York, with a median rent price of $6,100 for a one-bedroom apartment and a median price per square foot of $9.03. Meanwhile, it fell in the bottom third when it came to median area of a one-bedroom apartment at 693 square feet. If you were willing to move to a neighboring area, you’d find apartments that offered more space for much lower prices. In Chelsea, for example, you’d pay 99 cents less per square foot and $850 less per month in rent for a larger apartment (the median area in Chelsea for a one-bedroom apartment is 713 square feet). North of Flatiron, in Midtown Manhattan, you’ll find significantly lower prices for even bigger apartments: The median monthly rent for a one-bedroom apartment is $4,570, the median cost per square foot is $6.72, and the median area is 726 square feet. Finally, to the south of Flatiron in Gramercy, you’ll find the most space; the median area of a one-bedroom apartment in this neighborhood is 749 square feet (8% larger than in the Flatiron District) but the median rent price is $4,667 and the median cost per square foot is $7.64 (23% and 15% lower than in Flatiron, respectively). 

In Crown Heights, a renter can expect to pay $2,700 for a one-bedroom apartment at a rate of $4.33 per square foot — and the median area for an apartment of that size in the neighborhood is 625 square feet. This places Crown Heights at No. 15 on our list of cheapest neighborhoods in NYC. Meanwhile, in three bordering neighborhoods, you can expect to pay less per square foot for more space. The median rent price in Bedford-Stuyvesant for a one-bedroom apartment is $2,800, but the median area of a one-bedroom apartment is 691 square feet — coming out to a final price of $4 per square foot. It’s a similar story in Prospect Lefferts Garden, where the median one-bedroom monthly rent is only $50 more than in Crown Heights, but the median area is 682 square feet and the median cost per square foot is $4.02. Renters are likely to find the biggest upgrades in East Flatbush, where they can expect to pay $400 less per month in rent and about 27% less per square foot than they would in Crown Heights. Not to mention, despite a more affordable median monthly rent of $2,400 a month and cost per square foot of $3.17, the median area for a one-bedroom apartment is larger at 668 square feet. 

Sunset Park, Flatbush, and East Flatbush offer another example nearby Brooklyn neighborhoods with similar rent prices but varying median sizes. All three have a median rent price of $2,400 for a one-bedroom, but their median areas vary at 650 square feet, 694 square feet, and 668 square feet, respectively. 

If you are renting an apartment in Astoria, you’re already getting one of the most affordable one-bedrooms in New York. At $2,600 a month for a one-bedroom, the median rent price in this Queens neighborhood is well below the NYC median price of $4,398 (and it’s more affordable than neighboring Long Island City, where the median rent price for a one-bedroom apartment hovers around $3,885). However, there are better deals right in your backyard. South of Astoria in Sunnyside, for one, the median monthly rent price for a one-bedroom apartment is only $2,400. The price tag on a square foot in Sunnyside ($3.02) is over a dollar less than in Astoria ($4.19), and the median area of a one-bedroom apartment (743 square feet) is also much larger than what you’ll find in Astoria (675 square feet). On the other side of Astoria, in Ditmars Steinway, the savings are even greater — though the apartments aren’t as large. In Ditmars Steinway, the median rent for a one-bedroom apartment is $2,300, with a median cost per square foot of $3.43 but a median area of 703 square feet.

Of the 50 neighborhoods we looked at, 18 had median rent prices for a one-bedroom apartment below $3,000 a month. However, while all these neighborhoods offer renters more savings, that doesn’t necessarily come with more space. Below, find a chart with the median one-bedroom rent prices for 50 NYC neighborhoods — along with their median areas and median costs per square foot. 

Interested in renting an NYC apartment? Try ApartmentAdvisor. Learn more about how we’re creating a hassle-free renting process in the Big Apple.

For this study, ApartmentAdvisor analyzed listings available on its platform in the New York City neighborhoods for which we had sufficient inventory. Rent prices and cost per square footage calculations were based on median rents. 

ApartmentAdvisor also publishes a New York market report that breaks down average rent prices and rental market trends, which is updated daily.

Press contact: Amy Mueller (pr@apartmentadvisor.com)