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

Hudson Heights

4395 Broadway

$2,400 No Fee

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Yorkville

407 East 88th Street

$1,675 No Fee

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Chelsea

335 West 29th Street

$2,475 No Fee

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Yorkville

512 East 88th Street

$2,450 No Fee

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Chelsea

213 West 18th Street

$2,250 No Fee

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1

East Harlem

116 East 116th Street

$2,395 No Fee

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Kips Bay

151 East 26th Street

$2,450 No Fee

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Lenox Hill

509 East 78th Street

$2,425 No Fee

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1

Hell’s Kitchen

324 West 43rd Street

$2,100 No Fee

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Murray Hill

5 Tudor City Place

$2,250 No Fee

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Yorkville

411 East 85th Street

$2,395 No Fee

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Murray Hill

304 East 41st Street

$2,500 No Fee

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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

Weeksville

239 Utica Avenue

$2,150 No Fee

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Borough Park

1115 63rd Street

$1,675 No Fee

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Bensonhurst

1930 Bay Ridge Parkway

$1,700 No Fee

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Carroll Gardens

105 Luquer Street

$1,254 No Fee

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Coney Island

3086 West 1st Street

$1,750 No Fee

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Weeksville

1593 Park Place

$2,400 No Fee

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Crown Heights

1901 Bergen Street

$2,000 No Fee

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Crown Heights

1901 Bergen Street

$2,500 No Fee

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Park Slope

263 Fifth Avenue

$2,400 No Fee

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Bath Beach

180 Bay 26th Street

$2,100 No Fee

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Flatbush

1407 Flatbush Avenue

$2,495 No Fee

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Bedford-Stuyvesant

146 Herkimer Street

$1,700 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

Ridgewood

64-16 Palmetto Street

$2,500 No Fee

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Ditmars-Steinway

22-10 80th Street

$2,200 No Fee

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Queens Village

93-23 218th Street

$1,875 No Fee

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Forest Hills

98-30 67th Avenue

$1,999 No Fee

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Maspeth

54-12 Flushing Avenue

$1,850 No Fee

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Long Island City

36-29 30th Street

$2,100 No Fee

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Briarwood

141-47 84 Drive

$1,650 No Fee

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Elmhurst

52-07 90th Street

$2,300 No Fee

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Kew Gardens

83-43 118th Street

$1,550 No Fee

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Kew Gardens

83-60 118th Street

$2,150 No Fee

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Ridgewood

60-41 68 Road

$2,100 No Fee

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Briarwood

84-31 Van Wyck Expressway

$1,995 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

Kingsbridge Heights

80 Van Cortlandt Park South

$1,868 No Fee

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Morris Park

1575 Williambridge Road

$2,150 No Fee

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Williamsbridge

3639 Barnes Avenue

$2,500 No Fee

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Riverdale

3671 Hudson Manor Terrace

$2,375 No Fee

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Hunts Point

875 Hunt’s Point Avenue

$1,950 No Fee

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Woodstock

598 Eagle Avenue

$2,292 No Fee

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Kingsbridge

3120 Corlear Avenue

$2,095 No Fee

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Kingsbridge

3120 Corlear Avenue

$1,625 No Fee

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Soundview

1770 East 172nd Street

$1,950 No Fee

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Highbridge

1030 Woodycrest Avenue

$1,825 No Fee

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University Heights

2337 Andrews Avenue North

$2,118 No Fee

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Concourse

1127 Sheridan Avenue

$1,800 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

Saint George

30 Daniel Low Terrace

$1,495 No Fee

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Clifton

166 Vanderbilt Avenue

$1,650 No Fee

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Port Richmond

180 Jewett Avenue

$2,000 No Fee

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Grymes Hill

476 Howard Avenue

$1,900 No Fee

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Arrochar

795 Hylan Boulevard

$2,500 No Fee

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Grymes Hill

4 Stratford Avenue

$2,250 No Fee

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Grymes Hill

4 Stratford Avenue

$1,700 No Fee

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West Brighton

62 Britton Street

$1,750 No Fee

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Bulls Head

170 Amsterdam Avenue

$2,000 No Fee

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Graniteville

182 Fahy Avenue

$1,250 No Fee

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Huguenot

266 Stafford Avenue

$1,350 No Fee

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Graniteville

1598 Richmond Avenue

$2,295 No Fee

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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.