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
East Village
608 East 9th Street
$2,799No Fee
1 |
1
Kips Bay
139 East 27th Street
$2,366No Fee
Studio |
1
Central Harlem
48 West 138th Street
$2,200No Fee
Studio |
1
Yorkville
515 East 83rd Street
$2,290No Fee
Studio |
1
Yorkville
314 East 80th Street
$2,200No Fee
Studio |
1
Hell’s Kitchen
531 West 48th Street
$2,475No Fee
1 |
1
Noho
302 Mott Street
$2,950No Fee
1 |
1
East Harlem
170 East 106th Street
$2,850No Fee
2 |
1
Lenox Hill
355 East 73rd Street
$2,495No Fee
Studio |
1
East Harlem
353 Pleasant Avenue
$2,300No Fee
2 |
1
Washington Heights
515 West 170th Street
$2,450No Fee
2 |
1
Upper West Side
67 West 73rd Street
$2,650No 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
393 Weirfield Street
$2,960No Fee
Studio |
1
Bedford-Stuyvesant
740 Dekalb Avenue
$2,925No Fee
1 |
1
Sunset Park
465 46th Street
$2,599No Fee
3 |
1
Borough Park
4001 New Utrecht Avenue
$2,600No Fee
1 |
1
Homecrest
1704 East 15th Street
$2,050No Fee
2 |
1
Windsor Terrace
30 Ocean Parkway
$2,850No Fee
1 |
1
Bushwick
129 Bleecker Street
$2,750No Fee
2 |
1
Bedford-Stuyvesant
1557 Fulton Street
$2,815No Fee
2 |
1
East Flatbush
823 Maple Street
$2,700No Fee
2 |
1
Prospect Park South
50 East Tenth Street
$2,650No Fee
Studio |
1
Prospect Park South
50 East Tenth Street
$2,657No Fee
Studio |
1
East Flatbush
823 Maple Street
$2,350No Fee
1 |
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
Astoria
24-27 43rd Street
$2,500No Fee
1 |
1
Hunters Point
42-22 27th Street
$2,960No Fee
Studio |
1
Oakland Gardens
209-06 82nd Avenue
$2,200No Fee
1 |
1
Briarwood
84-11 Lander Street
$1,846No Fee
1 |
1
Astoria
34-18 33rd Street
$2,200No Fee
1 |
1
Hunters Point
42-20 27th Street
$2,966No Fee
Studio |
1
Astoria
31-46 45th Street
$2,000No Fee
1 |
1
Long Island City
38-38 29th Street
$2,350No Fee
1 |
1
Kew Gardens
83-30 118th Street
$2,600No Fee
1 |
1
Jackson Heights
87-07 35th Avenue
$2,200No Fee
1 |
1
Astoria
35-02 28th Street
$2,799No Fee
1 |
1
Sunnyside
41-11 47th Avenue
$2,000No 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
604 1st Street
$1,995No Fee
1 |
1
Hoboken
131 Washington Street
$2,500No Fee
1 |
1
Hoboken
80 Park Avenue
$2,900No Fee
1 |
1
Hoboken
1124 Washington Street
$2,900No Fee
2 |
1
Hoboken
1014 Hudson Street
$2,450No Fee
Studio |
1
Hoboken
512 1st Street
$2,350No Fee
1 |
1
Hoboken
927 Willow Avenue
$2,626No Fee
1 |
1
Hoboken
605 1st Street
$2,600No Fee
1 |
1
Hoboken
527 Willow Avenue
$1,990No Fee
1 |
1
Hoboken
910 Castle Point Terrace
$2,400No Fee
1 |
1
Hoboken
618 Washington Street
$2,650No Fee
1 |
1
Hoboken
623 Willow Avenue
$2,700No 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
Historic Downtown
253 8th Street
$2,700No Fee
1 |
1
Jersey City
440 New York Avenue
$2,800No Fee
3 |
1
Journal Square
225 Saint Pauls Avenue
$2,900No Fee
2 |
1
Historic Downtown
342 4th Street
$2,100No Fee
1 |
1
Historic Downtown
380 Montgomery Street
$2,250No Fee
Studio |
1
The Heights
329 Central Avenue
$1,999No Fee
1 |
1
Jersey City
415 Baldwin Avenue
$2,250No Fee
2 |
1
Jersey City
76 Baldwin Avenue
$2,300No Fee
2 |
1
West Side
66 Wallis Avenue
$1,850No Fee
2 |
1
Jersey City
18 Lewis Avenue
$2,400No Fee
2 |
2
Journal Square
834 Newark Avenue
$2,850No Fee
3 |
1
Jersey City
91 Jewett Avenue
$2,550No 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!