Top 6 Cheapest Neighborhoods to live in Manhattan with the Best quality of life – 2024

If you’ve been looking for a city with great food, stunning skyscrapers, and an exciting nightlife, Manhattan in New York City is the place to be. It is home to some of the world’s best-known landmarks, including the Empire State Building, Central Park, and the Statue of Liberty.

Living in Manhattan means embracing the vibrant city that never sleeps and appreciating the busy lifestyle that provides new adventures and numerous opportunities every day. However, moving to this place should be within your financial means without compromising the quality of life it has to offer.

Are you looking for an affordable place to live in Manhattan that matches your lifestyle? MovingWaldo identified the top 6 cheapest places to live in Manhattan that offer the best quality of life in 2024.

Methodology

We based our ranking of the 6 cheapest places to live in Manhattan on the median cost of buying a property in 2023, the median cost of rent for a 1-bed apartment in 2023, and the quality of life. We collected the property and rental data from Rocket Homes Real Estate Housing Market Reports and Zillow. To help you compare, As of July 2023, the median cost of buying a property in Manhattan is $1,344,066 and as of March 2023, the median rent for a 1-bedroom apartment is $4,150.

The “Best quality of life” aspect is measured based on feedback from real people who have moved to this area in our database or real people from trusted online forums. More specifically, we look for positive feedback on job opportunities, quality of education, quality of healthcare, feeling of safety, public transportation, environment (cleanliness), as well as availability of recreational facilities and parks.

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Cheapest Neighborhoods to live in Manhattan

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1. East Harlem

East Harlem - City View
  • Median 1-bed apt rent: $2,495
  • Median property buying cost: $731,333

East Harlem, commonly known as “El Barrio” or Spanish Harlem, is a culturally diverse area in the northeastern portion of Manhattan. Residents praise the neighborhood’s cultural diversity, vibrant street life, and authentic local food, which make East Harlem an ideal place to live.

The neighborhood offers good access to 116th Street station, allowing for quick journeys within East Harlem and to other sections of Manhattan. Locals have access to Washington Housing Playground, Thomas Jefferson Park, and the North End of Central Park, all of which offer plenty of green space for recreation and outdoor activities.

As of July 2023, the median rent for a 1-bedroom apartment is $2,495, while the median cost of buying a property is $731,333, making it one of the cheapest places to live in Manhattan.

Rocket Homes (July 2023)Zillow (July 2023)

East Harlem, Manhattan, NYC

2. Two Bridges

Two Bridges - View at Night
  • Median 1-bed apt rent: $2,895 
  • Median property buying cost: $1,200,000

Two Bridges is a small neighborhood located between the Manhattan and Brooklyn Bridges. The neighborhood is served by the F train, which runs along East Broadway and provides easy access to Lower Manhattan and Brooklyn.

Recreational areas in Two Bridges include East River Park, which stretches along the waterfront and provides stunning views of the East River and Manhattan skyline.

Locals praise the area for its historic charm, diverse dining options, and unique character. In terms of housing and rental prices, as of July 2023, the median cost of buying a property is $1,200,000, and the median rent for a 1-bedroom apartment is $2,895.

Rocket Homes (July 2023) & Zillow (July 2023)

Two Bridges, Manhattan, NYC

3. Yorkville

yorkville nyc
  • Median 1-bed apt rent: $3,150 
  • Median property buying cost: $1,100,000 

Yorkville is a neighborhood located on the Upper East Side of Manhattan. Locals can enjoy the picturesque Carl Schurz Park with its waterfront beauty and outdoor activities. They also appreciate the neighborhood’s closeness to Central Park.

It is home to Hunter College High School. Although it has a reputation for being excellent in the arts and sciences, it also provides advanced courses in math and science.

As of July 2023, the median rent for a 1-bedroom apartment is $3,150, and the median cost of buying a property is $1,100,000.

Rocket Homes (July 2023)Zillow (July 2023)

Yorkville, Manhattan, NYC

4. Morningside Heights

  • Median 1-bed apt rent: $4,225
  • Median property buying cost: $699,000

Morningside Heights has easy access to one of the most renowned educational institutions, Columbia University, one of the most highly regarded universities in the world, ranking 7th overall in the US.

The neighborhood’s proximity to Riverside Park and Morningside Park provides enough recreational area for outdoor activities. Locals frequently highlight the neighborhood’s peaceful atmosphere and intellectual ambience. 

As of July 2023, the median rent for a 1-bedroom apartment is $4,225 and the median cost of buying a property is $699,000, as of August 2023. 

Rocket Homes (August 2023) & Zillow (July 2023)

Morningside Heights, Manhattan, NYC

5. Hell's Kitchen (Clinton)

Clinton/Hell's Kitchen South - Midtown Manhattan
  • Median 1-bed apt rent: $3,595
  • Median property buying cost: $1,115,000

Hell’s Kitchen South, also known as Clinton, is famous for its lively atmosphere, multiple dining options, and thriving entertainment scene, including live music. 

Locals love this walkable area, which has a walk score of 99 and offers unique cultural activities, fantastic music venues, and close access to Broadway theaters. They also enjoy connecting with nature by exploring Hudson River Park and DeWitt Clinton Park.

The median rent for a 1-bedroom apartment is $3,595 and the median cost of buying a property is $1,115,000 as of July 2023.

Rockethomes (July 2023)Zillow (July 2023)

Hell's Kitchen (Clinton), Manhattan, NYC

6. Midtown East

Midtown East - Central Park
  • Median 1-bed apt rent: $3,995
  • Median property buying cost: $1,106,325

Midtown East is a bustling neighborhood known for its central location and iconic landmarks like Central Park, Grand Central Terminal, and the United Nations headquarters.

Locals often highlight Midtown East’s convenience with easy access to subway lines like Fifth Avenue/53rd Street station, as well as the nice view of the Chrysler Building and its proximity to Time Square.

As of July 2023, the median cost of buying a property is $1,106,325, while the median rent for a 1-bedroom apartment is $3,995, making it one of the cheapest places to live in Manhattan. 

Rocket Homes (July 2023) & Zillow (July 2023)

Midtown East, Manhattan, NYC

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Conclusion

While living in one of the finest cities in the world, Manhattan allows you to be near to everything that life has to offer. While this location is convenient, some individuals are concerned about the cost of living and whether the prices are reasonable.

With the help of this guide, you may choose among the cheapest places to live in Manhattan with the best quality of life in 2024.

Are you planning to move soon? Learn about the Best Manhattan Movers!

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Ann Nacario

The author

Meet Ann – our head writer with a knack for making moving and city living a breeze. From the many details of moving to picking the perfect moving company, she’s your guide. Ann has a friendly yet detailed approach to ensure your move goes off without a hitch. When she’s not writing about relocation, it will always be on her mind, but you’ll catch her spending time with her three furry friends.

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