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

Inwood

124 Sherman Avenue

$1,895 No Fee

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1

Hell’s Kitchen

421 West 56th Street

$2,475 No Fee

Studio |

1

Central Harlem

15 West 139th Street

$2,075 No Fee

Studio |

1

Washington Heights

541 West 158th Street

$2,500 No Fee

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1

East Harlem

424 East 116th Street

$2,000 No Fee

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1

Hell’s Kitchen

412 West 56th Street

$2,423 No Fee

Studio |

1

Kips Bay

223 East 32nd Street

$2,297 No Fee

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1

Upper West Side

20 West 95th Street

$2,295 No Fee

Studio |

1

South Harlem

132 West 117th Street

$2,450 No Fee

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1

Central Harlem

210 West 133rd Street

$2,130 No Fee

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1

Sutton Place

350 East 54th Street

$2,500 No Fee

Studio |

1

Hamilton Heights

502 West 152nd Street

$2,295 No Fee

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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

Sunset Park

679 48th Street

$2,150 No Fee

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1

Sunset Park

4819 Fourth Avenue

$2,150 No Fee

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1

Williamsburg

100 Moore Street

$2,500 No Fee

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1

Homecrest

1764 East 18th Street

$2,075 No Fee

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1

Prospect Lefferts Gardens

341 Midwood Street

$2,500 No Fee

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1

Sunset Park

4423 Fifth Avenue

$2,360 No Fee

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1

Flatbush

2601 Glenwood Road

$2,100 No Fee

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1

Homecrest

2249 Ocean Avenue

$2,170 No Fee

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1

Brownsville

694 Rockaway Avenue

$1,600 No Fee

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1

Midwood

1532 Ocean Avenue

$1,500 No Fee

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Homecrest

1773 East 12th Street

$1,900 No Fee

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Stuyvesant Heights

411 Chauncey Street

$2,495 No Fee

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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

Jackson Heights

30-35 70th Street

$2,000 No Fee

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Sunnyside

51-01 39th Avenue

$2,300 No Fee

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Astoria

24-15 41st Street

$2,250 No Fee

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Sunnyside

45-15 42nd Street

$2,400 No Fee

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1

Lindenwood

149-37 88th Street

$2,500 No Fee

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1.5

Middle Village

79-30 69 Road

$2,100 No Fee

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1

Rockaway All

157 Beach 96th Street

$2,400 No Fee

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1

Astoria

11-05 30 Road

$2,199 No Fee

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1

Astoria

40-09 25th Avenue

$2,500 No Fee

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1

Briarwood

140-18 Burden Crescent

$2,300 No Fee

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1

Forest Hills

65-45 Yellowstone Boulevard

$2,500 No Fee

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1

Briarwood

140-18 Burden Crescent

$2,400 No Fee

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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

Soundview

1105 Morrison Avenue

$2,345 No Fee

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Fordham

2763 Morris Avenue

$2,300 No Fee

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University Heights

2270 Loring Place North

$1,500 No Fee

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1

Kingsbridge Heights

3119 Bailey Avenue

$2,100 No Fee

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1

Mott Haven

25 Bruckner Boulevard

$2,300 No Fee

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1

University Heights

2294 University Avenue

$1,475 No Fee

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1

Bedford Park

2955 Grandconcourse

$1,868 No Fee

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1

Pelham Gardens

1466 East Gun Hill Road

$1,281 No Fee

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1

East Tremont

2239 Adams Place

$1,900 No Fee

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1

Highbridge

939 Woodycrest Avenue

$1,799 No Fee

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1

Highbridge

1356 University Avenue

$1,675 No Fee

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1

Tremont

2180 Ryer Avenue

$1,700 No Fee

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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

South Beach

84 Mclaughlin Street

$2,495 No Fee

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1

Princes Bay

91 Finlay Avenue

$1,999 No Fee

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1

Grasmere

65 Parkinson Avenue

$2,500 No Fee

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2

Saint George

5 Stuyvesant Place

$2,400 No Fee

Studio |

1

Saint George

30 Daniel Low Terrace

$1,500 No Fee

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1

Stapleton

8 Navy Pier Court

$2,255 No Fee

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1

Stapleton

7 Navy Pier Court

$2,395 No Fee

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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.