There’s no doubt that COVID-19 shook the world. New York was one of the hardest hit, leaving residents concerned about their health and job security. Many New Yorkers who lost their jobs are also experiencing housing anxiety. How can you rent an apartment if the pandemic left you unemployed? First, it’s critical to know that you’re not alone. New York City’s unemployment rate reached 20.4% in June 2020. That’s twice the number during the peak of the great recession in 2009. The rental market responds with rent concessions and drastically lower rents, making life in the city more affordable. However, during an unemployment crisis, it doesn’t make renting a new apartment any easier. But it is possible when armed with some essential knowledge. Here’s how to rent an apartment without a job.

Manhattan Rentals Under $2,500 on StreetEasy Article continues below

Chinatown

3 Doyers Street

$2,200

Studio |

1

Murray Hill

590 Third Avenue

$2,495

Studio |

1

Gramercy Park

152 East 22nd Street

$2,495

Studio |

1

Yorkville

212 East 84th Street

$2,500

1 |

1

East Harlem

2108 Second Avenue

$2,195

2 |

1

Central Harlem

2509 Adam Clayton Powell Boulevard

$2,395

2 |

1

Washington Heights

514 West 170th Street

$2,175

1 |

1

Hell’s Kitchen

402 West 44th Street

$2,500

Studio |

1

Murray Hill

533 Third Avenue

$2,300

Studio |

1

East Harlem

19 East 108th Street

$2,500

1 |

1

Washington Heights

536 West 163rd Street

$2,500

2 |

1

East Harlem

315 East 108th Street

$2,000

Studio |

1

How to Get an Apartment Without a Job? Secure a Guarantor

Pre-pandemic, a landlord would ask for a guarantor if someone couldn’t prove income or had terrible credit, says Becki Danchik of Warburg Realty. It still holds in the current market.

“It might not be the most convenient or comfortable way for someone to rent an apartment, but it’s one of the most effective,” she said. And there are two ways to go about finding one. 

1. Use a Personal, Tri-State Guarantor

“The guarantor would be someone whose income is a bare minimum of 80 times the monthly rent,” said real estate agent Bill Kowalczuk. “For example, if an unemployed person is looking at a rent of $3,000 per month, the guarantor would need to make a minimum of $240,000 a year and have excellent credit and low debt. When it comes to how to rent an apartment without a job, if you know someone who meets those requirements and lives in the tri-state area, ask them if they’d be willing to act as your guarantor.

2. Use a Third-Party Guarantor

If you don’t have someone local who meets the guarantor requirements, companies like Insurent will act as one. “To use a guarantor company, usually you have to pay a fee of about two months rent,” said Kowalczuk. “Companies like these typically guarantee rent payments. But, there’s a catch. You need stellar credit.”

Brooklyn Rentals Under $2,500 on StreetEasy Article continues below

Park Slope

392 1st Street

$2,350

Studio |

1

Bedford-Stuyvesant

818 Marcy Avenue

$2,299

Studio |

1

Prospect Lefferts Gardens

2111 Beekman Place

$2,475

2 |

1

Wingate

735 Fenimore Street

$2,500

1 |

1

East Flatbush

860 East 35th Street

$2,228

1 |

1

Flatbush

410 East 28th Street

$2,380

1 |

1

Bay Ridge

7200 Ridge Boulevard

$1,800

Studio |

1

Bay Ridge

8516 Fourth Avenue

$2,100

1 |

1

Fiske Terrace

1290 Ocean Avenue

$2,270

2 |

1

Fort Hamilton

9303 Shore Road

$2,450

1 |

1

Fort Hamilton

9303 Shore Road

$1,650

Studio |

1

Bushwick

57 Bleecker Street

$2,500

1 |

1

How to Get an Apartment Without a Job? Get a Credit Letter 

If you saved substantially for a rainy day and can’t meet the apartment’s income requirements, you could set up a credit letter with a bank. In a nutshell, it guarantees that a tenant’s rent payments will be received on time and for the correct amount. In this example, it pays to have savings regarding how to get an apartment without a job.

“If the tenant is unable to make a payment on the rent, the bank will be required to cover the full or remaining amount of the rent,” said Kowalczuk. “The tenant supplies the bank with the full year’s rent, which is held by the bank, similar to a typical security deposit. The tenant would still be required to pay the monthly rent. The money held by the bank is used if the tenant is unable to pay the rent for any particular month. At the end of the lease, the leftover funds are returned to the tenant.”

According to agent Jeremy Kamm of Warburg Realty, another similar option is to secure a personal loan. “You could use a personal loan to cover the costs of living while unemployed and using those funds as proof of funds for a landlord,” he noted. “That being said, it may be challenging to secure a personal loan right now, and the interest fees might be very high.”

Queens Rentals Under $2,500 on StreetEasy Article continues below

Rego Park

64-48 Booth Street

$1,800

Studio |

1

Astoria

34-46 Vernon Boulevard

$2,260

Studio |

1

Flushing

38-15 Bowne Street

$1,779

Studio |

1

Jackson Heights

25-21 87th Street

$2,095

1 |

1

Kew Gardens

83-52 Lefferts Boulevard

$2,285

1 |

1

Ditmars-Steinway

20-72 Steinway Street

$2,100

1 |

1

East Flushing

40-17 194th Street

$2,300

1 |

1

Sunnyside

48-24 43rd Street

$2,195

1 |

1

Ridgewood

63-54 Fresh Pond Road

$2,495

1 |

1

Forest Hills

71-40 112nd Street

$1,995

1 |

1

Jackson Heights

76-10 34th Avenue

$1,950

1 |

1

Flushing

159-10 Sanford Avenue

$1,775

1 |

1

Don’t Forget Unemployment Benefits

Just because you lost your job doesn’t mean you have no source of income. Unemployment benefits max out at $504 a week in NYC, and it’s more than $600 in New Jersey, meaning you could have around $2,000 or more before taxes to spend. And as of July 2020, a law was signed that provides additional unemployment insurance. You can refer to the U.S. Department of Labor for the latest regarding Federal Pandemic Unemployment Compensation.

UPDATE: As of September 5, 2021, several federal unemployment benefit programs across the states will expire. Please check with your local unemployment office for more information.

Bronx Rentals Under $2,500 on StreetEasy Article continues below

Parkchester

1849 Cross Bronx Expressway

$2,445

2 |

1

Norwood

3279 Bainbridge Avenue

$1,870

1 |

1

Bedford Park

3224 Grand Concourse

$2,030

1 |

1

Mott Haven

276 Grand Concourse

$2,005

Studio |

1

Kingsbridge

3120 Corlear Avenue

$1,730

Studio |

1

Mott Haven

40 Bruckner Boulevard

$2,454

1 |

1

Mott Haven

40 Bruckner Boulevard

$2,356

1 |

1

Mott Haven

40 Bruckner Boulevard

$2,344

1 |

1

Mott Haven

40 Bruckner Boulevard

$2,500

1 |

1

Mott Haven

40 Bruckner Boulevard

$2,232

Studio |

1

Kingsbridge

3120 Corlear Avenue

$2,250

1 |

1

Fordham

2685 Valentine Avenue

$1,695

2 |

1

How to Get an Apartment Without a Job? Find a Roommate

If you’re having trouble securing an apartment on your own, consider finding a roommate. Apply for an apartment with a friend (or two) who perhaps are in a better financial situation than you. That way, your combined income could meet the landlord’s requirements. 

If you don’t have potential roommates lined up to share the cost, plenty of online services like Share a Room or Roomi have listings of people looking for roommates. Another option is to find someone subletting a vacant room in an already leased apartment on these sites or Craigslist. 

Staten Island Rentals Under $2,500 on StreetEasy Article continues below

Grant City

180 Hamden Avenue

$2,500

2 |

1

Shore Acres

74 Fingerboard Road

$2,100

2 |

1

Saint George

5 Bay Street

$2,413

Studio |

1

Stapleton

8 Navy Pier Court

$2,255

Studio |

1

Stapleton

7 Navy Pier Court

$2,395

Studio |

1

Consider Renting in a Co-Op

Although it’s not a tried and true method, some experts believe co-ops might be more lenient about renter restrictions given the market and economic climate. “I could see how some of the smaller buildings might be willing to take a chance on the tenant since the responsibility is on the shareholder,” said broker Becki Danchik.  

Apply For Cash Assistance or Rental Relief Programs

Not surprisingly, government agencies are recognizing that COVID-19 created an unprecedented crisis. Even the safety nets in place for residents weren’t enough. In response, additional programs were formed recently to help New Yorkers. These programs could help unemployed residents looking to rent an apartment. 

1. Cash Assistance Program

The Human Resources Administration is providing emergency cash grants to help you pay for rent and other necessities. Certain documents will be needed to apply.

2. COVID Rent Relief Program

The state set up the COVID Rent Relief Program to help households facing an increase in rent burden due to a loss of income during the pandemic. However, it ended. As of June 1, 2021, a new federally-funded rental assistance program opened. If you’re seeking help, please reach out to New York State’s Emergency Assistance Program (ERAP). It is important to note that the rental assistance grant from ERAP does not have to be repaid.