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
Two Bridges
52 Henry Street
$2,650No Fee
2 |
1
Lenox Hill
334 East 77th Street
$2,500No Fee
1 |
1
Washington Heights
512 West 171st Street
$2,400No Fee
1 |
1
Lower East Side
147 Orchard Street
$2,450No Fee
Studio |
1
Murray Hill
5 Tudor City Place
$2,650No Fee
Studio |
1
Murray Hill
5 Tudor City Place
$2,700No Fee
Studio |
1
Murray Hill
5 Tudor City Place
$2,650No Fee
Studio |
1
Lenox Hill
794 Lexington Avenue
$2,700No Fee
Studio |
1
Fort George
563 West 184th Street
$1,850No Fee
1 |
1
Kips Bay
250 East 30th Street
$2,950No Fee
Studio |
1
Kips Bay
240 East 26th Street
$2,750No Fee
3 |
1
East Harlem
225 East 118th Street
$2,275No Fee
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
415 Beverly Road
$2,700No Fee
1 |
1
Flatbush
1462 Flatbush Avenue
$2,600No Fee
1 |
1
Stuyvesant Heights
374 Kosciusko Street
$2,775No Fee
1 |
3
East Williamsburg
264 Devoe Street
$2,870No Fee
2 |
1
Homecrest
1793 East 17th Street
$2,400No Fee
1 |
1
Crown Heights
791 Sterling Place
$2,920No Fee
1 |
1
Williamsburg
50 Varet Street
$2,644No Fee
Studio |
1
Crown Heights
828 Saint John’s Place
$2,999No Fee
1 |
1
Bushwick
311 Grove Street
$2,500No Fee
1 |
1
Bushwick
293 Grove Street
$2,800No Fee
1 |
1
Bath Beach
8814 Bay Parkway
$1,995No Fee
1 |
1
Prospect Park South
40 Woodruff Avenue
$1,825No 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
Forest Hills
111-45 76 Drive
$2,395No Fee
1 |
1
Kew Gardens
83-43 118th Street
$2,350No Fee
1 |
1
Briarwood
135-31 82nd Avenue
$2,800No Fee
3 |
1.5
Forest Hills
105-24 63 Drive
$2,200No Fee
1 |
1
Briarwood
140-62 Burden Crescent
$2,800No Fee
2 |
2
Long Island City
41-21 28th Street
$2,794No Fee
Studio |
1
Astoria
31-43 Vernon Boulevard
$2,924No Fee
1 |
1
Hunters Point
42-37 27th Street
$2,700No Fee
Studio |
1
Astoria
26-41 3rd Street
$2,750No Fee
1 |
1
Astoria
35-30 32nd Street
$2,900No Fee
2 |
1
Astoria
11-23 30 Road
$2,100No Fee
Studio |
1
Astoria
34-15 34th Street
$2,450No 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
132 Adams Street
$2,600No Fee
1 |
1
Hoboken
939 Washington Street
$2,800No Fee
1 |
1
Hoboken
1008 Washington Street
$2,175No 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
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
Newport
30 Newport Parkway
$2,620No Fee
Studio |
1
Historic Downtown
383 Monmouth Street
$2,300No Fee
1 |
1
Jersey City
404 Stegman Parkway
$2,150No Fee
2 |
1
Bergen/Lafayette
102 5 Congress Street
$2,250No Fee
1 |
1
Jersey City
314 Paterson Plank Road
$2,300No Fee
2 |
1
Paulus Hook
136 Sussex Street
$2,700No Fee
1 |
1
Paulus Hook
142 Sussex Street
$2,600No Fee
1 |
1
Bergen/Lafayette
290 Randolph Avenue
$2,700No Fee
3 |
1
Jersey City
45 Gautier Avenue
$2,900No Fee
4 |
1
Jersey City
59 Cherry Street
$2,600No Fee
2 |
2
The Heights
320 New York Avenue
$2,300No Fee
2 |
1
Jersey City
160 Vroom Street
$2,150No Fee
2 |
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!