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
Upper West Side
304 West 76th Street
$2,975
Studio |
1
East Harlem
19 East 108th Street
$2,500
1 |
1
West Village
74 Charles Street
$2,764
Studio |
1
South Harlem
10 Lenox Avenue
$2,995
Studio |
1
Washington Heights
536 West 163rd Street
$2,500
2 |
1
East Harlem
315 East 108th Street
$2,000
Studio |
1
Lenox Hill
321 East 69th Street
$2,595
Studio |
1
Lenox Hill
223 East 78th Street
$2,400
Studio |
1
Upper West Side
410 West End Avenue
$2,700
Studio |
1
Yorkville
419 East 81st Street
$2,400
Studio |
1
Inwood
164 Sherman Avenue
$1,896
1 |
1
Hamilton Heights
512 West 136th Street
$2,250
2 |
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
Kensington
210 Parkville Avenue
$2,900
1 |
1
Borough Park
5718 Fort Hamiltn Parkway
$2,700
2 |
1
Bushwick
1223 Bushwick Avenue
$2,800
2 |
1
Prospect Lefferts Gardens
195 Clarkson Avenue
$2,966
1 |
1
Kensington
796 Mcdonald Avenue
$2,450
2 |
1
Midwood
1717 E 8th Street
$2,500
3 |
1
Brownsville
531 Bristol Street
$2,147
2 |
1
East Flatbush
361 East 54th Street
$2,600
2 |
1
Crown Heights
796 Lincoln Place
$1,800
Studio |
1
Prospect Lefferts Gardens
83 Winthrop Avenue
$2,927
2 |
1
Midwood
1652 East 14th Street
$2,649
1 |
1
Bedford-Stuyvesant
641 Marcy Avenue
$2,990
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
Auburndale
171-43 Ashby Avenue
$2,350
1 |
1
Sunnyside
43-10 48th Street
$2,450
2 |
1
Woodside
46-09 69th Street
$2,470
Studio |
1
Sunnyside
43-29 39 Place
$2,750
1 |
1
Ditmars-Steinway
21-76 46th Street
$1,999
1 |
1
Astoria
25-40 31st Street
$2,995
1 |
1
Astoria
30-30 33rd Street
$2,550
2 |
1
Forest Hills
100-25 Queens Boulevard
$2,250
Studio |
1
Astoria
31-56 37th Street
$2,600
1 |
1
Astoria
32-69 35th Street
$2,800
1 |
1
Forest Hills
105-25 65 Road
$2,600
1 |
1
Astoria
36-01 30th Avenue
$2,600
2 |
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
925 Park Avenue
$2,125
1 |
1
Hoboken
310 Madison Street
$2,850
1 |
1
Hoboken
63 Madison Street
$2,975
2 |
2
Hoboken
63 Jefferson Street
$2,750
1 |
1
Hoboken
509 Willow Avenue
$2,650
1 |
1
Hoboken
532 Adams Street
$2,600
1 |
1
Hoboken
324 Park Avenue
$2,600
1 |
1
Hoboken
121 Washington Street
$2,800
1 |
1
Hoboken
1029 Willow Avenue
$2,550
1 |
1
Hoboken
611 Bloomfield Street
$1,950
Studio |
1
Hoboken
916 Bloomfield Street
$2,000
Studio |
1
Hoboken
402 Monroe Street
$2,295
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
Jersey City
151 Sip Avenue
$2,000
1 |
1
Jersey City
151 Sip Avenue
$2,000
1 |
1
Jersey City
78 Wade Street Wade Street
$2,300
3 |
1
Jersey City
61 Hancock Avenue
$2,500
2 |
1
West Side
589 Bramhall Avenue
$1,800
1 |
0
West Side
589 Bramhall Avenue
$2,100
1 |
0
Jersey City
400 Claremont Avenue
$2,350
1 |
1
Jersey City
400 Claremont Avenue
$2,075
1 |
1
Jersey City
400 Claremont Avenue
$2,495
1 |
1
Jersey City
400 Claremont Avenue
$2,265
1 |
1
Jersey City
16 Bennett Street
$2,300
1 |
1
Waterfront
206 7th Street
$2,900
1 |
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!