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
Yorkville
313 East 81st Street
$2,550No Fee
Studio |
1
Hell’s Kitchen
446 West 49th Street
$2,265No Fee
1 |
1
Upper West Side
365 West End Avenue
$2,750No Fee
Studio |
1
East Harlem
157 East 116th Street
$1,849No Fee
1 |
1
Lenox Hill
1450 Second Avenue
$2,495No Fee
Studio |
1
Central Harlem
255 West 136th Street
$2,300No Fee
1 |
1
Upper West Side
209 West 80th Street
$2,470No Fee
Studio |
1
Yorkville
512 East 82nd Street
$2,600No Fee
1 |
1
Yorkville
219 East 84th Street
$2,995No Fee
Studio |
1
Chelsea
321 West 21st Street
$2,200No Fee
Studio |
1
Carnegie Hill
146 East 98th Street
$2,619No Fee
2 |
1
Hell’s Kitchen
337 West 48th Street
$2,200No 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
243 Himrod Street
$2,441No Fee
2 |
1
Stuyvesant Heights
735A Quincy Street
$2,699No Fee
2 |
1
Midwood
1414 East 12th Street
$2,150No Fee
Studio |
1
Weeksville
1081 Eastern Parkway
$2,150No Fee
2 |
1
Bushwick
111 Woodbine Street
$2,975No Fee
1 |
1
Bay Ridge
215 Bay Ridge Avenue
$2,500No Fee
2 |
1
Bensonhurst
1516 West 9th Street
$2,500No Fee
2 |
1
Fort Hamilton
67 93rd Street
$2,150No Fee
1 |
1
Fort Hamilton
2 Marine Avenue
$2,450No Fee
1 |
1
Bay Ridge
1 74th Street
$2,425No Fee
2 |
1
East New York
2886 Atlantic Avenue
$2,900No Fee
2 |
1
Red Hook
365 Columbia Street
$2,200No 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
Ditmars-Steinway
35-18 Ditmars Boulevard
$2,700No Fee
3 |
2
Astoria
2-24 26th Avenue
$2,900No Fee
1 |
1
Astoria
2-24 26th Avenue
$2,599No Fee
Studio |
1
Astoria
25-43 35th Street
$2,400No Fee
2 |
1
Astoria
32-63 36th Street
$2,500No Fee
1 |
1
Astoria
31-26 28th Avenue
$2,275No Fee
1 |
1
Astoria
37-01 30th Avenue
$2,400No Fee
1 |
1
Sunnyside
43-29 39 Place
$2,208No Fee
1 |
1
Astoria
41-07 28th Avenue
$2,950No Fee
2 |
1
Ditmars-Steinway
21-17 37th Street
$2,195No Fee
1 |
1
Astoria
30-67 48th Street
$2,850No Fee
2 |
1
Elmhurst
44-15 74th Street
$2,200No 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
226 Jefferson Street
$2,700No Fee
1 |
1
Hoboken
304 10th Street
$2,800No Fee
1 |
1
Hoboken
818 Jefferson Street
$2,900No Fee
1 |
1
Hoboken
90 Court Street
$2,450No Fee
1 |
1
Hoboken
524 Adams Street
$1,800No Fee
1 |
1
Hoboken
231 Grand Street
$2,700No Fee
1 |
0
Hoboken
114 Garden Street
$2,500No Fee
2 |
1
Hoboken
500 2nd Street
$2,750No Fee
1 |
1
Hoboken
1234 Bloomfield Street
$2,200No Fee
Studio |
1
Hoboken
330 Jackson Street
$2,050No Fee
1 |
1
Hoboken
611 Bloomfield Street
$2,200No Fee
Studio |
1
Hoboken
811 Park Avenue
$2,950No Fee
2 |
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
The Heights
502 Central Avenue
$1,900No Fee
1 |
1
Jersey City
104 Romaine Avenue
$2,100No Fee
2 |
1
West Side
271 Sip Avenue
$2,300No Fee
1 |
1
Historic Downtown
527 Jersey Avenue
$2,400No Fee
Studio |
1
McGinley Square
55 Jordan Avenue
$2,125No Fee
1 |
1
McGinley Square
55 Jordan Avenue
$2,075No Fee
Studio |
1
McGinley Square
55 Jordan Avenue
$2,500No Fee
1 |
1
Jersey City
91 Clifton Place
$2,700No Fee
2 |
1
Jersey City
27 Baldwin Avenue
$2,800No Fee
3 |
2
Historic Downtown
380 Montgomery Street
$2,450No Fee
Studio |
1
Jersey City
23 Williams Avenue
$2,400No Fee
3 |
2
Jersey City
407 Monmouth Avenue
$2,500No Fee
Studio |
0
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!