If you’re looking to rent an apartment in NYC, you’re already aware that you’ll have to spend a lot of money just to find a spot barely big enough to fit your shoe collection. As much as you probably enjoy your own space and living alone, the best way to find a decent sized apartment and save money is by getting a roommate.
The number-crunchers over at RentHop.com have compiled data to show it is possible to save a good chunk of cash by living with a roommate in a two bedroom apartment versus living in a one bedroom apartment when you’re looking to rent an apartment in NYC.
According to RentHop’s findings, a person looking to rent an apartment in NYC can save approximately 40% off their rent per month by sharing a two-bedroom apartment compared to living alone in a one bedroom. However, they do note if the two bedroom apartment also has two bathrooms, then expect to pay more.
In New York City, the median cost for a one-bedroom apartment is $3,000 per month, according to RentHop. If you’re willing to share space with a roommate, the median rent for two-bedroom apartments with one or two bathrooms in NYC is $3,600. Split between two people that comes to just $1,800 per month, for a (40%) $1,200 per month savings. Your actual savings may vary; up to 48.3% of the one-bedroom monthly rent if you’re willing to share a bathroom in your new two-bedroom apartment. If sharing a bathroom is out of the question, you can still save up to 16.1% of what you previously paid for that one-bedroom by moving into a two-bedroom two-bathroom, according to RentHop.
Looking to live in Bushwick? The median rent for a one-bedroom apartment in Bushwick, Brooklyn is around $2,195 per month. If you get a roommate, you would spend around $1200 per month a piece and save about $995 compared to just living alone.
For those looking to find a spot in Central Harlem, the median rent for a one bedroom apartment is $2,100. The median cost for a two bedroom is $2,595. If you find a roomie and choose to get a two-bedroom apartment, you could easily save around $802 per month.
Best neighborhoods to rent an apartment in NYC with a roommate and save money
Click on the NYC tab to find out how much money you can save by living with a roommate. Alternatively, if you’re looking to move, you can use the chart below to find out how much cash you can save in other cities.