1 Bedroom Apartments for Rent in Bronx, NY | realtor.com® (2024)

FAQs

Is it easy to rent an apartment in New York? ›

Renting in NYC can be almost as strenuous as getting a mortgage. Most landlords will require you to pass a credit check and provide income statements, tax returns, bank statements, pay stubs, and a letter of employment. That way, they can verify your income and make sure you make enough to afford the unit.

Ideally, you need at least a 650 credit score to secure a good apartment rental in NYC. But don't worry too much if your score is 500 or less. There are ways to increase your creditworthiness quickly, making you more eligible for renting an apartment in NYC.

Qualifying for a starter rental in NYC tends to be much more difficult than getting an apartment elsewhere. For starters, you (and your roommates, if you have them) must earn an annual salary equal to (or greater than) 40 times the monthly rent. That works out to $120,000 to $150,000 for a $3,000 per month apartment.

NYC Housing Authority (Public Housing)

Provides rent subsidized housing for those who meet HUD's Section 8 eligibility requirements. Tenants' rent is 30% of their monthly gross income. Due to long waiting lists, priority is given to individuals and families applying from shelters and other agencies.

It may take 2 to 12 months for applications to be processed. If selected, submit eligibility documents Rent or buy if you are eligible. If rejected, challenge via appeal or apply to others. Do not pay any money or fee at any time to anyone for an application to any HPD or HDC-sponsored housing development.

For starters, getting an apartment requires a lot more than mere desire; landlords don't mess around and need to be convinced of your financial viability. Not having a job offer in hand might make the process of apartment hunting seem insurmountable, but it's not impossible.

Ideally, your rent will equal 30% or less of your gross monthly income. In addition to your monthly rent payment, this 30% should encompass other associated rental costs like your renters insurance, utilities or parking fees. Let's dive into three methods you can use to figure out how much to spend on rent every month.

Regardless if you have a credit history or not, a landlord will run a credit report as part of a standard procedure for an apartment application. The easiest solution when you don't have credit and one that most landlords are willing to accept is a guarantor. A guarantor is a person who can guarantee the lease.

How do I prepare to rent an apartment in NYC? ›

Bring the following: letter(s) from previous landlord; pay stubs; bank statements; and a check book. Be prepared to put down a deposit of one month's rent. Check the neighborhood around the building. Look for hospitals, fire or police stations - they are noisy and will cause you to lose sleep.

Finding affordable housing in NYC is hard, especially when you're just starting out. If you need rental assistance, the City offers programs that can help. The New York City Housing Authority (NYCHA) provides affordable housing for low- and moderate-income people who live in NYC.

The 40x rent rule is a guideline that states that a renter will need to make an annual salary equal to approximately 40 times the monthly rent on their NYC apartment. For example, if the rent for an apartment is $2,000 per month, you should have an annual salary of $80,000 according to the 40x rent rule.

New York is considered a landlord-friendly state since rental prices are usually higher, compared to other states. It's also considered a tenant-friendly state because there's a high rate of rent control clauses, so it's vital that landlords identify and analyze them for their lease agreement documents.