Thinking about living in NYC? These are the 5 cheapest neighborhoods near downtown in the city
Despite being ranked as one of the most expensive US cities to live in, there are areas of the Big Apple that are more affordable than others.
New York City is unique and is possibly one of the most vibrant, cosmopolitan, pulsating and invigorating places to life on the planet.
But, life in the Big Apple comes at a price with rent the biggest economic obstacle for anyone thinking of moving to the city that never sleeps.
I hopped on the East River Ferry tonight at 34th St in Manhattan and took it down to Wall St in Manhattan. I love taking the NYC Ferry. The New York City views are spectacular and it’s only $4.50. Here are some highlights from the commute. pic.twitter.com/qEusCUbKr2
— NewYorkCityKopp (@newyorkcitykopp) February 26, 2025
Groceries, transportation, dining out, and entertainment are all more expensive in NYC compared to many other parts of the US but even within the city itself, prices can vary, with life in the high profile borough of Manhattan significantly more expensive to living in the outer boroughs.
NYC based estate agent Undivided have put together their listing of six of the hottest up-and-coming neighborhoods in NYC.
Kips Bay
The top recommendation from Undivided is Kips Bay. The neighborhood is located on the east side of Manhattan, situated south of Murray Hill, East of Nomad, and North of Gramercy Park.
It’s become a popular destination due to its calm atmosphere and is more secluded than other nearby neighborhoods yet still offers direct access to Midtown and other popular areas of Manhattan.
Greenpoint/Hunters Point
Undivided claim that Greenpoint is a fantastic neighborhood in northwest Brooklyn that is located directly south of the Queens neighborhood of Hunters Point and will appeal to anyone looking for a creative atmosphere and central location.
Prospect Lefferts Garden / Flatbush
The Prospect Lefferts Garden and Flatbush area is quickly becoming another one of the hottest up-and-coming neighborhoods in New York City which offers a community-oriented atmosphere with a diverse culture including plenty of local businesses and a solid array of diverse restaurants.
Crown Heights
Located just north of the Prospect Lefferts Garden-Flatbush neighborhood is Crown Heights. It offers many of the same benefits of the adjacent communities in terms of affordable housing options and a community-oriented atmosphere.
Long Island City/Astoria
Astoria and Long Island City are two Queens neighborhoods that offer relatively affordable housing options, Long Island City is one of the fastest-growing neighborhoods in NYC, and Astoria is not far behind and is gaining a reputation for being one of the hippest neighborhoods in NYC.
Hudson Square
Hudson Square is one of the lesser-known areas of Manhattan, New York and is a small neighborhood located on the southwest side of Manhattan. The neighbourhood is full of former industrial buildings that have been revitalized and transformed into sleek high-rises and modern office spaces.
City seeks proposals for 100% affordable development and new rec center in Hudson Squarehttps://t.co/WSnaV6zdqM pic.twitter.com/18hsweB6i0
— 6sqft (@6sqft) February 23, 2025
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