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Cheap Rents Can Still Be Found in NYC

Rental apartments in New York City are cheaper than you thinkBelieve it or not, there are 13 other cities in America where 2-bedroom apartments are more expensive than in New York City. So, in theory, if you moved to Honolulu, San Francisco, or even Long Island to rent a 2-bedroom apartment, you would have to pay more. These stats were compiled by the National Low-Income Housing Coalition using “fair market” rents – basically that means that they included rent-controlled and rent-stabilized apartments – and this methodology certainly brought NYC’s ranking down. After all, no other city in America has as many rent-regulated apartments as New York City, not by a long shot. However, this study is far from nuanced, especially since it doesn’t break down average rents for 2-bedrooms by borough. Still, the report highlights an important point: if you want an affordable 2-bedroom in New York City, you might want to look north of 96th Street in Manhattan.