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
566 Amsterdam Avenue
$2,500No Fee
1 |
1
Yorkville
519 East 81st Street
$2,798No Fee
1 |
1
Central Harlem
2364 F Douglas Boulevard
$2,200No Fee
1 |
1
Lower East Side
67 Pitt Street
$2,695No Fee
1 |
1
Kips Bay
350 East 30th Street
$2,750No Fee
1 |
1
Yorkville
314 East 80th Street
$2,600No Fee
1 |
1
Central Harlem
4 West 126th Street
$2,395No Fee
Studio |
1
Lower East Side
101 Allen Street
$2,500No Fee
Studio |
1
Manhattan Valley
220 West 104th Street
$2,600No Fee
Studio |
1
Hell’s Kitchen
411 West 44th Street
$2,980No Fee
1 |
1
Washington Heights
92 Wadsworth Avenue
$2,995No Fee
3 |
1
Yorkville
423 East 82nd Street
$2,995No 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
Sunset Park
4721 Eighth Avenue
$2,580No Fee
2 |
2
Greenwood
185 20th Street
$2,075No Fee
1 |
1
Ditmas Park
615 East 17th Street
$2,837No Fee
2 |
1
Flatbush
1620 New York Avenue
$2,933No Fee
2 |
1.5
Kensington
478 East 7th Street
$2,400No Fee
1 |
1
Stuyvesant Heights
643 Madison Street
$2,675No Fee
1 |
1
Crown Heights
2427 Dean Street
$2,700No Fee
Studio |
1
Park Slope
138 Saint Marks Place
$2,600No Fee
Studio |
1
Bushwick
8 Palmetto Street
$2,997No Fee
2 |
1
Bay Ridge
565 85th Street
$1,995No Fee
1 |
1
Flatlands
2265 Utica Avenue
$2,000No Fee
2 |
1
Fort Hamilton
260 88th Street
$2,000No 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
48-16 30th Avenue
$2,200No Fee
1 |
1
Woodside
41-15 53rd Street
$2,000No Fee
1 |
1
Rockaway All
122-20 Ocean Pm
$2,450No Fee
1 |
1
Astoria
32-28 47th Street
$2,995No Fee
2 |
1
Flushing
35-01 191st Street
$2,435No Fee
1 |
1
Rego Park
61-25 98th Street
$2,400No Fee
1 |
1
Sunnyside
50-05 43rd Avenue
$2,200No Fee
1 |
1
Briarwood
84-10 Main Street
$1,875No Fee
Studio |
1
Astoria
32-75 46th Street
$2,599No Fee
2 |
1
Ditmars-Steinway
21-05 38th Street
$2,395No Fee
1 |
1
Ridgewood
64-54 Madison Street
$2,500No Fee
1 |
1
Maspeth
62-83 60 Road
$2,700No Fee
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
502 2nd Street
$2,850No Fee
1 |
1
Hoboken
327 Jackson Street
$2,000No Fee
1 |
1
Hoboken
327 Jackson Street
$2,000No Fee
1 |
1
Hoboken
116 Clinton Street
$2,800No Fee
2 |
1
Hoboken
305 Park Avenue
$2,800No Fee
1 |
1
Hoboken
86 Monroe Street
$2,800No Fee
1 |
1
Hoboken
307 Monroe Street
$2,850No Fee
1 |
1
Hoboken
527 Jefferson Street
$2,400No Fee
1 |
1
Hoboken
461 4th Street
$2,650No Fee
2 |
1
Hoboken
461 4th Street
$2,650No Fee
2 |
1
Hoboken
124 Madison Street
$2,500No Fee
1 |
1
Hoboken
1032 Park Avenue
$2,475No 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
Jersey City
126 Randolph Avenue
$2,650No Fee
3 |
1.5
West Side
25 Duncan Avenue
$2,800No Fee
2 |
2
Journal Square
10 Huron Avenue
$2,500No Fee
1 |
1
Jersey City
69 Lincoln Street
$2,499No Fee
2 |
2
West Side
21 Reed Street
$1,945No Fee
1 |
1
Journal Square
10 Huron Avenue
$2,000No Fee
Studio |
1
Bergen/Lafayette
2465 John Fitzgerald Kennedy Boulevard
$2,100No Fee
2 |
1
Jersey City
413-415 9th Street
$2,700No Fee
2 |
2
Jersey City
225 Wilkinson Avenue
$2,200No Fee
3 |
1
Journal Square
211 Baldwin Avenue
$2,700No Fee
1 |
1
Journal Square
211 Baldwin Avenue
$2,900No Fee
1 |
1
Journal Square
211 Baldwin Avenue
$2,600No Fee
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!