New York City is famous for having everything a person could want right within the borders of the five boroughs. It has world-class restaurants, unrivaled entertainment, countless shopping options, educational institutions and so much more. However, while New York has endless perks, it also has its fair share of challenges.
One of the most challenging parts of NYC is housing. If you want to live in NYC, it’s important to find an apartment in your budget. But, it can also feel impossible to find an apartment in your budget, meaning the housing hunt can be a headache and disheartening. However, if you’ve started thinking about moving to NYC and you’re worried about finding a place to live — fear not! There are actually some steps you can take to make finding your home easier on you. First, it helps to understand just WHY it’s so hard to find an apartment in the city– and then to know what you can do to make your hunt successful.
Why It’s So Hard to Find an NYC Apartment
If you’ve started looking for an apartment in NYC and you’re having a hard time, you’re not alone. One of the main reasons that it’s just so difficult to find a place to live in NYC — especially if you want to live in Manhattan — is because there just aren’t that many available. That’s right: despite all of that real estate across all of the island, the vacancy rate is about 1 percent — which means that 99 percent of all apartments are occupied. In addition to a low vacancy rate, it’s hard to find the right apartment in New York, especially if you are looking for a job or have a job that doesn’t pay you a fortune, because apartments are incredibly pricy. A recent study showed that the average monthly rent for a one-bedroom in the city is $3,680 — which can be a significant chunk of your paycheck.
It’s not just Manhattan that’s pricey, too. The outer boroughs have skyrocketed in price. Over the past several years, the average price of rental units in Brooklyn have increased, as well; they are now at $2,782 per month.
In addition to cost, the real estate market in New York moves fast. This is because of great demand — there are LOTS of people in the city, like you, looking for a place to live. This means that there is a great risk of someone snatching up an apartment you want before you can get your hands on it or someone applying with better financial credentials than you have. Trust us: for New York veterans or newcomers alike, the real estate rental market is daunting.
How Bedly Can Help
One great solution if you want to make your NYC housing hunt easier is Bedly. Bedly is a network that connects renters directly with properties and rooms that are available to them. This means that you no longer have to deal with the hassle of brokers, property managers, landlords, utility companies and more. You don’t even have to have a credit check done! (Just a background check). Instead, find a property you’re right for online, submit an application — and you’re in. Bedly pairs you with other qualified renters so you don’t have to worry about finding roommates and it takes some of the hassle and stress out of moving to a new city and makes it more exciting and fun.