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
Lenox Hill
370 East 69th Street
$2,650No Fee
Studio |
1
East Village
324 East Sixth Street
$2,850No Fee
Studio |
1
Sutton Place
160 East 55th Street
$2,850No Fee
2 |
1
West Village
47 Jane Street
$2,800No Fee
Studio |
1
Central Harlem
137 West 137th Street
$1,820No Fee
Studio |
1
Yorkville
518 East 83rd Street
$2,495No Fee
1 |
1
East Harlem
118 East 103rd Street
$2,350No Fee
1 |
1
East Village
131 East 7th Street
$2,500No Fee
1 |
1
East Village
248 East 2nd Street
$2,600No Fee
1 |
1
Upper East Side
148 East 84th Street
$2,495No Fee
Studio |
1
Washington Heights
610 West 174th Street
$2,400No Fee
1 |
1
Yorkville
206 East 81st Street
$2,450No 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
Stuyvesant Heights
682 Hancock Street
$2,875No Fee
1 |
1
Williamsburg
16 Stagg Street
$2,500No Fee
1 |
1
Weeksville
1315 Eastern Parkway
$1,850No Fee
1 |
1
Stuyvesant Heights
258 Marcus Garvey Boulevard
$2,100No Fee
Studio |
1
East New York
172 Montauk Avenue
$2,000No Fee
1 |
1
Stuyvesant Heights
336 Chauncey Street
$2,250No Fee
1 |
1
Crown Heights
913 Saint John’s Place
$2,899No Fee
3 |
1
Stuyvesant Heights
68 Mac Dougal Street
$2,550No Fee
2 |
1
Flatbush
120 Erasmus Street
$2,525No Fee
1 |
1
Crown Heights
2382 Dean Street
$2,000No Fee
2 |
1
Flatbush
2734 Snyder Avenue
$2,400No Fee
1 |
1
Stuyvesant Heights
1064 Myrtle Avenue
$2,500No Fee
Studio |
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
Woodside
46-09 69th Street
$2,640No Fee
1 |
1
Woodside
46-09 69th Street
$2,840No Fee
1 |
1
Astoria
25-95 37th Street
$2,000No Fee
1 |
1
Kew Gardens
124-16 84 Road
$2,950No Fee
2 |
1
North Corona
32-17 105th Street
$2,600No Fee
2 |
1
Astoria
26-36 Fourth Street
$2,123No Fee
1 |
1
Astoria
31-05 21st Street
$2,271No Fee
1 |
1
Astoria
31-20 32nd Street
$2,313No Fee
1 |
1
Bay Terrace (Queens)
16-70 Bell Boulevard
$2,400No Fee
1 |
1
Ditmars-Steinway
23-24 37th Street
$2,900No Fee
2 |
1
Astoria
2-24 26th Avenue
$2,950No Fee
1 |
1
Astoria
24-26 41st Street
$2,799No Fee
3 |
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
132 Adams Street
$2,600No Fee
1 |
1
Hoboken
939 Washington Street
$2,800No Fee
1 |
1
Hoboken
324 Washington Street
$2,850No Fee
1 |
1
Hoboken
527 Willow Avenue
$2,125No Fee
1 |
1
Hoboken
132 Jefferson Street
$2,650No Fee
1 |
1
Hoboken
423 Jefferson Street
$2,500No Fee
1 |
1
Hoboken
112 14th Street
$2,700No Fee
1 |
1
Hoboken
310 Madison Street
$2,900No Fee
1 |
1
Hoboken
300 Newark Street
$2,800No Fee
1 |
1
Hoboken
410 Washington Street
$2,550No Fee
1 |
1
Hoboken
231 Grand Street
$2,700No Fee
1 |
1
Hoboken
719 Adams Street
$2,900No 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
Bergen/Lafayette
154 Van Horne Street
$2,250No Fee
2 |
2
Jersey City
212 5th Street
$2,700No Fee
1 |
1
Jersey City
313 Pine Street
$2,800No Fee
2 |
1
Journal Square
631 Newark Avenue
$2,500No Fee
2 |
1
West Side
405 Grant Avenue
$2,800No Fee
2 |
2
Jersey City
815 Pavonia Avenue
$2,625No Fee
2 |
2
Historic Downtown
167 Christopher Columbus Drive
$2,200No Fee
1 |
1
West Side
7 Tribeca Avenue
$2,800No Fee
2 |
1
Newport
30 Newport Parkway
$2,810No Fee
Studio |
1
Journal Square
3033 Kennedy Boulevard
$1,900No Fee
1 |
1
Jersey City
757 Garfield Avenue
$2,300No Fee
2 |
1
Journal Square
345 Baldwin Avenue
$2,675No 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!