Are you thinking about moving to NYC? Here are a few things you should know before moving as well as the pros and cons!
As of 2020, the State of New York has a population of 19,440,469. However, New York City specifically is made up of five separate boroughs or divisions: Manhattan, Queens, Brooklyn, The Bronx, and Staten Island. According to the U.S. Census Bureau, there were approximately 8,398,748 people living in New York City in 2018. This makes NYC one of the most densely populated cities in the United States with about 26,403 people per square mile.
From 1995-2000, about 726,477 people moved to New York and according to a 2018 Census, 62.96% of those living in New York City were born in the United States while 37.04% were foreign born.
Why should you move to New York?
Moving to New York City alone or even moving to New York with a family can be challenging. So why should you move and what does NYC have to offer? We’re here to talk about all the pros and cons of living in New York so you can decide if it’s the place for you!
Find homes in quiet, tree-lined streets
One reason people move to New York City is for potential bigger career opportunities. This can be especially true for those who have just graduated college and are looking for job and networking opportunities. As NYC is seen as a city of opportunity, many relocate to the Big Apple in order to fulfill their American Dream.
Secondly, there are many public transportation options available and NYC has an extensive and efficient transportation system within the city. Not only that, bus and subway ticket prices are affordable and can even be cheaper than driving. This can make it easier to travel around and commute for work without worrying about owning your own vehicle
Additionally, New York City is a melting pot with many diverse people living within it and along with various cultures and religions. It’s a chance to broaden your cultural experiences as well as guarantees you’ll be able to find those who share the same culture, language, and background as you!
Lastly, NYC is known as a city that never sleeps. There is always something to do and new things to discover when you’re living there! There are a lot of entertainment options such as bars, clubs, concerts, restaurants, theatre, etc. It’s definitely a city where you can both work hard and play hard!
While there are many upsides to living in NYC, there are also a few downsides. One is that New York City has one of the highest amounts of traffic in the U.S. This can especially be difficult for those who own their own car and have to drive to go to work. This doesn’t include costs of public parking and even the costs of having your own parking spot in your apartment building’s garage.
Secondly, while there are many career opportunities available and large corporations located in NYC, there is also a lot of competition. Due to this, job hunting can be a difficult process and can even potentially take a long time. This con can be especially important to post-graduates who are just starting to job hunt and may not have the funds to support themselves without work.
Additionally NYC has a high cost of living. This includes both high rent costs as well as lifestyle. It is important to keep in mind that high rent prices don’t equate to a larger space. In fact, most NYC apartments are known to be small. This can make it difficult for raising a family since children require more space, but larger apartments can’t always be affordable in NYC.
How to find an apartment in NYC
One of the biggest things you need to know before moving is how to find an apartment in New York City. So what are the best ways to find apartments for rent in NYC and what are a few things to look out for?
Apartment searching and the entire moving process can be stressful. Luckily, it can be pretty easy to search for apartments and their prices online! Not only do the listings have images of the apartment themselves, but have specific details about the space to help you determine if it’s the space you want. Also it can help you familiarize the prices of apartments in certain neighborhoods and help you filter out spaces that aren’t in your budget.
We know apartment hunting can be time consuming and tiring so we did the hard work for you! Unlike many other sites, Localize can even give you insights on the apartment itself, building the apartment is located in, and the surrounding neighborhood. These neighborhood information can include nearby construction, average housing pricing, transportation, safety, schools, and many more.
Building insights can be whether or not there have been recent building complaints, building violations, elevator issues, amenities provided, and much more. All this useful information can make your apartment hunting process stress-free and reduce the amount of research you’d have to do on your own!
Seasons for apartment hunting in NYC
A large factor that can affect the real estate market in NYC is the season you are apartment hunting in. For instance, fall and winter are considered off seasons where there are fewer apartments available for rent and there aren’t a lot of people looking to move during that time. Due to this, it can be more difficult to find the exact apartment you want since there are limited options. However, since the market is in lower demand, the rental prices are lower and can be more affordable!
In contrast, the housing market is a lot more competitive during the spring and summer time where there are a lot more people looking to move to NYC. While there are a lot more apartments available for rent, it is also a more competitive market where these spaces tend to go faster. So if you are apartment hunting during the spring/summer, you might have to make apartment decisions a lot quicker or certain spaces you like will be off the market quickly. Additionally, rent prices will be higher compared to fall and winter due to demand.
However, due to COVID-19 and the current pandemic, this spring season has looked different for the NYC real estate market. The pandemic along with the stay-at-home mandate has caused a shrinking of the already small pool of available listings on the market and lower demand for housing as people face financial insecurity. As a result, there have been price drops in both rental listings and homes for sale in NYC. This can be a great opportunity to save money for those looking to move spaces or purchase their first property.
Tips & things to know before committing to an apartment in NYC
Here are a few tips for moving to NYC and things you look out for before you put down that security deposit and first month’s rent on your new place in New York City!
- Start by searching online listings four to six weeks before your planned move!
While you won’t necessarily be committing to a space quite yet, this can help give you an idea of how much a certain amount of space costs. It can also help you get an idea of what certain neighborhoods look like and their average price ranges for apartments.
- Save up a few months rent
It can be a good idea to save up at least 4 months of rent before your move to NYC. It may seem like a lot, but money can go fast and it can be good to have a safety net prepared beforehand!
- Think about the the type of space you need
If you’re moving to NYC alone, would you want a studio vs one bedroom apartment? Or if it’s a family move, maybe you’d need a two or three bedroom space.
Similarly to the last tip on thinking about the space you need, it is just as important to think about the main furniture you’ll have. Not only will this help you determine what pieces you’ll bring and move with you to NYC, but you also have to think about if your new apartment space can fit them!
- Hire movers
Moving can always be a big process and not necessarily something you can do on your own. This is especially true if it’s a cross country move where you’re limited to just the items you can take with you on the flight. Unless you’re planning a road trip, it can be a good idea to hire movers who can help pack all your furniture and bring it over for you.
- Think apartment details
It’s a good idea to have down your needed apartment details to help narrow down your apartment search. For example, do you want a space with a lot of natural light or do the size and amount of windows matter? Or do you want a separate kitchen space? Is no central air conditioning a deal breaker for you? By having specific apartment requirements, it can make it easier to narrow down apartment choices and prevent you from getting overwhelmed.
- Take a look at the neighborhood!
The surrounding area of your building is just as important as the actual space you’ll be staying in! A few things to note is whether there is nearby public transportation, if there are restaurants/bars/cafes/markets etc, if there is construction nearby, is your building next to a busy street, what is the crime rate, and many more! You can also filter your area needs on Localize, such as listings in an area with low crime, are located on a quiet street, have highly rated schools in the area, or are in a dog-friendly area.
- Look for building red flags
Having a building owner who is responsive and regularly maintains the space is important! Look for signs of neglect such as issues within the apartment space and the building itself. Localize has all the information you need to see whether a building has violations, tenant complaints, or elevator issues.
Apartment for rent in NYC
If you’re just starting your apartment search in New York City, it can be a bit overwhelming with the many different options and listings available. Here are just a few rentals currently available for you to check out:
- 2 Gold Street, #402 Financial District, New York ($2,650) – 1 bed, 1 bath
- 4 Lexington Avenue, #5C Gramercy, New York ($3,000) – studio, 1 bath, 550 sqft
- 225 Rector Place, #8O Battery Park, New York ($3,450) – 1 bed, 1 bath, 658 sqft
- 234 West 21 Street, #52 Chelsea, New York ($4,350) – 1 bed, 1 bath, 1,000 sqft
- 345 West 14 Street, #2A Chelsea, New York ($6,950) – 1 bed, 2 baths, 1,055 sqft
- 373 Hoyt Street, #LL Gowanus, New York ($1,995) – studio, 1 bath, 755 sqft
- 1386 Dean Street, #2 Crown Heights, New York ($2,400) – 1 bed, 1.5 baths,1,000 sqft
- 44 Remsen Street, #5 Brooklyn Heights, New York ($2,950) – 1 bed, 1 bath
- 257 8 Street, #3 Park Slope, New York ($4,300) – 3 beds, 2 baths, 1,142 sqft
- 282 South 5 Street, #E8 Williamsburg, New York ($5,064) – 2 beds, 2 baths
- 89-52 Queens Boulevard, #612 Elmhurst, New York ($2,000) – 1 bed, 1 bath
- 41-40 Union Street, #12O Flushing, New York ($2,550) – 2 beds, 2 baths, 1,000 sqft
- 31-36 32 Street, #3C Astoria, New York ($2,775) – 2 beds, 1 bath
- 28-10 Jackson Avenue, #07L Long Island City, New York ($2,793) – 1 bed, 1 bath
- 46-9 11 Street, #3J Long Island City, New York ($2,999) – 1 bed, 1 bath
- 1371 Herschell Street, #2B Unionport, New York ($1,700) – 1 bed, 1 bath, 650 sqft
- 3598 Greystone Avenue, #1B Spuyten Duyvil, New York ($2,250) – 2 beds, 1 bath
- 570 Walton Avenue, #2 Concourse, New York ($2,700) – 3 beds, 2 baths, 950 sqft
- 2491 Cambreleng Avenue, #2 Belmont, New York ($2,700) – 3 beds, 1 bath
- 3800 Blackstone Avenue, #5S Riverdale, New York ($3,500) – 3 beds, 2 baths
- 155 Bay Street, #5L St. George, New York ($3,000) – 2 beds, 2 baths
Moving is a stressful process and all these tips can be a lot to remember, but luckily Localize already has all the information for you! To make the apartment hunting process easier, not only do they give apartment details, but also information on the building itself and the surrounding neighborhood! We hope these tips and tricks will make your potential NYC move a lot easier and happy apartment hunting!