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
318 West 106th Street
$2,300No Fee
Studio |
1
East Harlem
412 East 116th Street
$2,800No Fee
2 |
1
Upper West Side
925 West End Avenue
$2,583No Fee
Studio |
1
Hudson Heights
536 Fort Washington Avenue
$2,600No Fee
1 |
1
Lenox Hill
412 East 73rd Street
$2,450No Fee
1 |
1
South Harlem
1638 Park Avenue
$2,337No Fee
Studio |
1
South Harlem
75 West 118th Street
$2,303No Fee
1 |
1
Upper West Side
100 West 73rd Street
$2,400No Fee
Studio |
1
Yorkville
420 East 89th Street
$2,595No Fee
1 |
1
West Village
301 West 13th Street
$2,700No Fee
Studio |
1
Yorkville
418 East 89th Street
$2,250No Fee
Studio |
1
Washington Heights
111 Wadsworth Avenue
$2,567No Fee
1 |
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
Bay Ridge
619 Bay Ridge Avenue
$2,195No Fee
2 |
1
Bushwick
69 Central
$2,995No Fee
1 |
1
Brooklyn Heights
91 Remsen Street
$2,500No Fee
Studio |
1
Crown Heights
1233 Saint John’s Place
$2,700No Fee
3 |
1
Bay Ridge
7201 Ridge Boulevard
$1,850No Fee
Studio |
1
Bay Ridge
7201 Ridge Boulevard
$2,700No Fee
2 |
1
Bay Ridge
375 86th Street
$1,995No Fee
1 |
1
Crown Heights
893 Saint John’s Place
$2,350No Fee
Studio |
1
Fort Hamilton
9801 Shore Road
$2,295No Fee
Studio |
1
Ocean Hill
1465 Herkimer Street
$2,500No Fee
2 |
1
Bushwick
300 Cooper Street
$2,800No Fee
2 |
1
Greenwood
130 18th Street
$2,799No Fee
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
Elmhurst
46-08 74th Street
$2,500No Fee
2 |
1
Astoria
34-22 35th Street
$2,375No Fee
Studio |
1
Woodhaven
86-22 98th Street
$1,800No Fee
1 |
1
Astoria
23-20 30 Drive
$2,450No Fee
1 |
1
Astoria
32-51 30th Street
$2,350No Fee
1 |
1
Bay Terrace (Queens)
16-70 Bell Boulevard
$2,400No Fee
1 |
1
Flushing
140-08 Sanford Avenue
$2,234No Fee
1 |
1
Bay Terrace (Queens)
16-66 Bell Boulevard
$2,150No Fee
Studio |
1
Astoria
32-20 32nd Street
$2,300No Fee
1 |
1
Astoria
31-10 23rd Street
$2,450No Fee
1 |
1
Richmond Hill
88-18 107th Street
$2,850No Fee
3 |
1.5
Astoria
36-08 28th Avenue
$2,900No Fee
1 |
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
307 Monroe Street
$2,850No Fee
1 |
1
Hoboken
523 Adams Street
$2,000No Fee
1 |
1
Hoboken
500 2nd Street
$2,750No Fee
1 |
1
Hoboken
831 Clinton Street
$2,650No Fee
1 |
1
Hoboken
900 Washington Street
$1,925No Fee
1 |
1
Hoboken
719 Adams Street
$2,900No Fee
1 |
1
Hoboken
1034 Washington Street
$2,795No Fee
2 |
1
Hoboken
805 Park Avenue
$2,500No Fee
2 |
1
Hoboken
709 Willow Avenue
$2,850No Fee
2 |
1
Hoboken
404 Madison Street
$1,875No Fee
Studio |
1
Hoboken
204 Willow Avenue
$2,750No Fee
1 |
1
Hoboken
1008 Washington Street
$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
West Side
154 Belmont Avenue
$2,100No Fee
1 |
1
Bergen/Lafayette
36 Vroom Street
$2,600No Fee
1 |
1
Bergen/Lafayette
36 Vroom Street
$2,749No Fee
1 |
1
Bergen/Lafayette
36 Vroom Street
$2,450No Fee
1 |
1
Jersey City
85 Reservoir Avenue
$2,900No Fee
Studio |
1
Bergen/Lafayette
36 Vroom Street
$2,595No Fee
1 |
1
Bergen/Lafayette
36 Vroom Street
$2,400No Fee
1 |
1
Bergen/Lafayette
36 Vroom Street
$2,775No Fee
1 |
1
West Side
271 Sip Avenue
$1,900No Fee
Studio |
1
Jersey City
88 Regent Street
$2,810No Fee
Studio |
1
Jersey City
504 Bergen Avenue
$2,500No Fee
2 |
1
Jersey City
247 Grove Street
$2,800No 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!