More than 65% of New York City residents are renters, so whether it is your first time searching for an apartment or the 10th, you are not alone. Our guide to renting in NYC shares everything you need to know about the ins and outs of renting, from how much rent you can afford to tips for breaking a lease (hey, it happens!).
Other topics covered in this guide to renting in NYC include how to go about finding the best apartment for you (and roommates if you need them), what to expect at a lease signing, paperwork and fees you'll need to rent a place, whether you should use a broker, and much more.
Ready to search for your new apartment? Start here.
Apartment hunting in New York City can be complicated thanks to NYC real estate-specific jargon. One such term you’ve likely come across is “no-fee apartment.” What does that mean? Well, using a broker to help you find a rental is standard ― but it’s not free. Typically, someone has to pay for the broker’s services, and in NYC, who pays that fee can vary from apartment to apartment. Here’s everything you need to know about no-fee apartments in NYC.
Table of Contents
Manhattan Rentals Under $3,000 on StreetEasyArticle continues below
Soho
100 Sullivan Street
$2,720No Fee
Studio |
1
Inwood
25 Vermilyea Avenue
$2,100No Fee
1 |
1
Lower East Side
57 Clinton Street
$2,795No Fee
2 |
1
South Harlem
113 West 117th Street
$2,400No Fee
Studio |
1
Chelsea
131 West 15th Street
$1,950No Fee
Studio |
1
Lower East Side
141 Essex Street
$2,400No Fee
1 |
1
Yorkville
409 East 87th Street
$2,495No Fee
Studio |
1
Lenox Hill
216 East 77th Street
$2,050No Fee
Studio |
1
Central Harlem
133 West 138th Street
$2,853No Fee
2 |
1
Lenox Hill
232 East 75th Street
$2,800No Fee
1 |
1
Lenox Hill
244 East 77th Street
$2,495No Fee
1 |
1
Yorkville
239 East 84th Street
$2,100No Fee
Studio |
1
What Is a No-Fee Apartment Listing?
When searching for a place, you’ll likely come across apartment listings that loudly declare “no fee!” You’ll also encounter many listings that don’t. So what’s the difference?
In very basic terms, a no-fee apartment is an apartment where the tenant doesn’t pay a commission or broker fee. But, like so many things in NYC real estate, there’s more to know.
Brooklyn Rentals Under $3,000 on StreetEasyArticle continues below
Bushwick
189 Wilson Avenue
$2,900No Fee
Studio |
3
Gravesend
100 Avenue P
$2,600No Fee
2 |
1
Borough Park
1458 36th Street
$2,695No Fee
2 |
1
New Lots
380 Cozine Avenue
$2,600No Fee
1 |
1
Flatbush
73 Veronica Place
$2,950No Fee
3 |
1.5
Sunset Park
318 56th Street
$2,300No Fee
2 |
1
Bay Ridge
140 Bay Ridge Parkway
$2,095No Fee
1 |
1
Sunset Park
650 53rd Street
$2,850No Fee
2 |
1
Bedford-Stuyvesant
398 Tompkins Avenue
$2,900No Fee
1 |
1
Ocean Hill
1325 Herkimer Street
$2,895No Fee
1 |
1
Fort Hamilton
9116 Third Avenue
$2,300No Fee
2 |
1
Bay Ridge
221 Bay Ridge Avenue
$2,150No Fee
2 |
1
What’s the Difference Between Broker Fees and Commissions?
“The terms ‘broker fee’ and ‘commission’ are interchangeable,” says Becki Danchik, a StreetEasy Expert and broker with Coldwell Banker Warburg. “It’s the fee a broker earns on completing a transaction in which they match the right person with the right property. A no-fee apartment is typically when the landlord has agreed to pay that fee to the exclusive listing agent on behalf of the tenant.” A landlord will usually do this in the hope of securing a tenant quickly, she explains.
Landlords Have Brokers
Keep in mind, though, that “no fee” applies only to the landlord’s broker, also known as the listing agent, and landlords are not required to cover that cost (more on this shortly). Here’s how it works: if you approach an apartment’s listing agent directly and secure the no-fee apartment on your own, then great — you don’t pay a fee! But if you enlisted the services of a broker (who is not the listing agent), and you found that apartment through that broker, you owe them their commission, whether the apartment says “no fee” or not.
Queens Rentals Under $3,000 on StreetEasyArticle continues below
Bayside
43-06 210th Street
$2,495No Fee
1 |
1
Ditmars-Steinway
21-39 29th Street
$2,250No Fee
1 |
1
Astoria
32-75 42nd Street
$1,850No Fee
1 |
1
Ditmars-Steinway
21-32 Crescent Street
$2,260No Fee
1 |
1
Ridgewood
1671 Summerfield Street
$2,995No Fee
1 |
1
Queens Village
112-11 Witthoff Avenue
$2,800No Fee
2 |
1
Ridgewood
609 Fairview Avenue
$2,300No Fee
1 |
1
Jamaica
91-12 175th Street
$2,500No Fee
2 |
1
Astoria
30-70 48th Street
$2,800No Fee
1 |
1
Ditmars-Steinway
20-46 31st Street
$2,800No Fee
1 |
1
Astoria
30-13 45th Street
$2,300No Fee
2 |
1
Kew Gardens
123-33 83rd Avenue
$1,975No Fee
Studio |
1
What Is a Broker Fee?
Now that you understand the definition of no-fee apartment, you’d probably like to know how apartments with fees work. In short, renters who use a broker to find an apartment have to pay a broker fee. If you hire a broker who successfully finds you an apartment, they’ll earn an agreed-upon commission on the deal.
How Much Are Broker Fees for Renters?
The cost varies by broker and area. For instance, fees charged for Manhattan rentals may be more expensive than units in Queens, which has a lower median asking rent. Broker fees are somewhat negotiable, but generally, it’s either one month’s rent or up to 15% of the unit’s annual rent. That’s on top of paying your first month’s rent and security deposit. FYI: your security deposit can’t be more than one month’s rent.
Wait, Weren’t Broker Fee Abolished?
New York State changed the broker fee regulations with the Statewide Housing Security & Tenant Protection Act of 2019. The guidance issued stated that a prospective tenant can’t compensate a landlord’s agent (aka listing agent). It would have been a substantial cost-saving measure for future renters ― but a judge struck it down in April 2021, ruling that the state misinterpreted the act.
Sample Move-In Costs with a Broker’s Fee
Property owners or management companies will often ask for first month’s rent and a security deposit, in addition to the broker’s fee, before you can move in to a new apartment. Here is the estimated cost breakdown for a $3,799/month (NYC’s median asking rent as of July 2023 — to see the latest median asking rent for a particular neighborhood, visit our StreetEasy Data Dashboard) apartment with a 12 percent broker’s fee (percentage of total annual cost) — before even moving in!
Move-in costs for $3,799/month apartment
First month
$3,799
Security deposit
$3,799
Broker’s fee (12%)
$5,470.56
Total
$13,068.56
Hoboken Rentals Under $3,000 on StreetEasyArticle continues below
Hoboken
226 Jefferson Street
$2,700No Fee
1 |
1
Hoboken
831 Clinton Street
$2,700No Fee
1 |
1
Hoboken
621 Willow Avenue
$2,850No Fee
1 |
1
Hoboken
226 Jefferson Street
$2,700No Fee
1 |
1
Hoboken
818 Jefferson Street
$2,900No Fee
1 |
1
Hoboken
90 Court Street
$2,450No Fee
1 |
1
Hoboken
114 Garden Street
$2,500No Fee
2 |
1
Hoboken
500 2nd Street
$2,750No Fee
1 |
1
Hoboken
330 Jackson Street
$2,050No Fee
1 |
1
Hoboken
404 Adams Street
$2,250No Fee
1 |
1
Hoboken
210 Jefferson Street
$2,595No Fee
Studio |
1
Hoboken
310 Madison Street
$2,825No Fee
1 |
1
How to Find a No-Fee Apartment in NYC
You’ve decided you want to avoid paying a broker fee. Now, you’re probably wondering how to find a no-fee apartment. Here are a few options:
Use the no-fee apartment filter on StreetEasy: You can easily check the “no-fee only” box during your StreetEasy search to yield only apartment options without a broker fee. It will narrow your search to only those units.
Look for apartments listed by owners or management companies: A management rep is essentially an in-house broker — their goal is to find ideal tenants for their apartments. So, if you contact them directly, there shouldn’t be a fee. Just remember, property management companies rent apartments only in their specific buildings. Brokers, on the other hand, can have access to rentals in a variety of places.
Walk around the neighborhood: If you know the neighborhood you’re interested in, walk around it to see if buildings have posted listing signs. They should have the landlord or management company’s contact information. Call them and see if there are apartments available or if any are coming up.
Jersey City Rentals Under $3,000 on StreetEasyArticle continues below
Newport
40 Newport Parkway
$2,885No Fee
Studio |
1
Journal Square
345 Baldwin Avenue
$2,700No Fee
1 |
1
Journal Square
345 Baldwin Avenue
$1,958No Fee
Studio |
1
Jersey City
36 Park Street
$1,847No Fee
Studio |
1
Jersey City
206 4th Street
$2,200No Fee
2 |
1
West Side
50 Dey Street
$2,700No Fee
1 |
1
Jersey City
211 Clerk Street
$1,995No Fee
2 |
6
Jersey City
169 Garfield Avenue
$2,500No Fee
2 |
1
Jersey City
313 Pine Street
$2,200No Fee
1 |
1
Bergen/Lafayette
340 Randolph Avenue
$2,100No Fee
2 |
1
Bergen/Lafayette
117 Randolph Avenue
$2,300No Fee
2 |
1
The Heights
519 Palisade Avenue
$2,200No Fee
3 |
1
Do No-Fee Apartments Save You Money?
Surface level, it seems that no-fee apartments would be less expensive to rent than fee apartments. But there is some debate as to whether no-fee rentals save renters money, particularly when it comes to luxury rentals. Many buildings like these are no-fee, but cost much more per month because they have desirable amenities such as doormen, fitness centers, and outdoor space. It’s also possible that for a no-fee apartment, the broker fee is baked into your rent and you end up paying more per month — but it still saves you on upfront move-in costs.
Whatever you decide, be sure to search for your dream rental on StreetEasy!