7 Cheapest Neighborhoods in Manhattan

Posted by: TheGuarantors on October 26, 2021

Living the high life on a budget is tricky, but it is not impossible. To help you make the right choice with your budget, we have compiled a list of the seven cheapest neighborhoods in Manhattan for renters.

Related: Everything You Need To Know About Apartment Fees

Where are the cheapest neighborhoods in Manhattan?

Here is our list of the most affordable places to live in Manhattan compared to other areas within the borough!

1. Inwood

7 Cheapest Neighborhoods in Manhattan

The appeal of this neighborhood includes the affordable cost of apartments and the views of the surrounding areas. Bordered by the Hudson River, this borough features a waterfront with green lawns suitable for picnicking, games, and sporting activities. The diversity in this neighborhood is immediately striking; from chain stores to local shops to restaurants, bars, pubs, and taverns, you'll find it all here.

Median Rent

With the median rent at $1,850, Inwood is the cheapest of all seven neighborhoods on our list.

Access to Subway

The 1 train serves this neighborhood and travels northward up to Dyckman Street.

Notable Attractions

Inwood Hill Park is easily the finest in all of New York, and renters who stay in Manhattan are the closest to it. There is also The Met Cloisters, a branch of the Metropolitan Museum of Art, with its ancient European artifacts.

2. Washington Heights

7 Cheapest Neighborhoods in Manhattan

The Hispanic Society Museum. Source: HuffPost

Washington Heights presents a reasonable option for the budget-minded renter with its mid-rise buildings, busy street life, and history-laden streets. The rents are also stabilized, meaning they do not fluctuate at the will of the landlord.

Median Rent

The median rent is a respectable $2,100.

Access to Subway

The area is served by the A express, C express, and the 1 train.

Notable Attractions

Such sights as the Morris-Jummel mansion, the oldest house in Manhattan, the Hispanic Society Museum, the Library headquarters, and the American Academy of Arts and Letters are all found in Washington Heights. There is also the food attraction in the local bodegas, an Irish pub, a Dominican eatery, and a Columbia Wine company.

3. East Harlem

7 Cheapest Neighborhoods in Manhattan

East Harlem, sometimes referred to as El Barrio or Spanish Harlem, is where the upper east nosedives into Harlem. From the aroma of delicious food that fills the air to the soft Puerto Rican music that plays in the background, East Harlem is high on our list of boroughs in New York. Plus, it is one of the cheapest neighborhoods in Manhattan.

Median Rent

For as low as $2,200, you can get various apartments, including walkups, townhouse apartments, and newly constructed buildings.

Access to Subway

You can easily get anywhere from East Harlem because the 4,5, and 6 trains can easily get you across the Eastside.

Notable Attractions

The Museum of the City of New York, Taste Harlem, East River Plaza, Target, Costco, and Central Park are some places that draw the crowds to East Harlem.

4. Yorkville

7 Cheapest Neighborhoods in Manhattan

Yorkville can be summarized as affordable and quiet. The official residence of the Mayor of NYC is here, in one of the cheapest neighborhoods in Manhattan. Also, the majority of the houses here are high-rise buildings, condos, and townhouses with next to no nightlife.

Median Rent

The median rent is up to $2,400.

Access to Subway

This is through Second Avenue Q and the 4,5, and 6 trains which stop at Park Avenue.

Notable Attractions

The greenery of Carl Schurz Park, the famous German restaurants, Heidelberg, and H&H Bagels. The popular sports facility, Asphalt green, is at the FDR too.

5. Gramercy

7 Cheapest Neighborhoods in Manhattan

Source: Flickr

Gramercy is the fifth on our list of the cheapest neighborhoods in Manhattan. If you are looking to raise a family, then this is the place for you. Gramercy has the feel of a private borough though it is in central Manhattan. The atmosphere, well-mowed lawns, and the well-kept street will have you feeling at home in no time. The locals love it, and you will too.

Median Rent

The average rent is $2,800.

Access to Subway

The 4,6 trains and the L, N, and R lines can all be easily accessed from the Gramercy area.

Notable Attractions

The idyllic Gramercy park is perhaps the most important here. There is also the Museum of Sex for people over the age of 18. The restaurants, Danny Meyer and Todd English, are also quite notable in the community.

6. Midtown East

7 Cheapest Neighborhoods in Manhattan

This enclave comprises both Murray Hills and Kips Bay. It is filled with relatively affordable accommodation options given the kinds of apartments and the environment here.

Median Rent

The median asking price is $2,800. This is relatively affordable given its proximity to the United Nations and many embassies.

Access to Subway

This borough is served by the 4,5,6, and 7 trains. The MetroNorth, Lexington Avenue 6 line, and shuttle trains can also be accessed.

Notable Attractions

The United Nations, international consulates, Morgan Library and Museum, NYU Hospital and Bellevue Hospital are all located in this region.

7. Hamilton Heights

7 Cheapest Neighborhoods in Manhattan

Named after Alexander Hamilton, Hamilton Heights has a rich history (No surprise there. This is the National Historic District of Sugar Hill). You'll easily find rowhouses and prewar apartments here to your taste.

Median Rent

The median rent is about $2,860 as of May 2021.

Access to Subway

There is access through express options A and D, and the 1 train.

Notable Attractions

Notable Attractions include The Grange (former residence of Alexander Hamilton), The Dance Theater of Harlem, Hogshead tavern, the City College of New York, and Sugar Hill Cafe.