Graduation season is upon us and with that comes a wave of college graduates in need of an affordable apartment. While the city is lauded for its prospective jobs, it pales when it comes to its availability of affordable housing. According to StreetEasy, the city’s private sector has added nearly 100,000 jobs per year, but rents have also increased by almost four percent annually. Amid an affordability housing crisis, recent college grads shouldn’t be surprised if finding an NYC apartment that caters to an entry-level salary isn’t easy.
StreetEasy has taken to the task of pinpointing the top 10 NYC neighborhoods for recent college grads. Basing their conclusions off factors that include ease of commute the “major job centers,” number of apartment that are affordable to people earning less than $60,000 annually, buildings that accept guarantors, and the concentration of other recent grads. Naturally, many of the neighborhoods identified are also some of the city’s most rapidly gentrifying neighborhoods, but there were also some pricey options that would require a pretty lucrative base salary (or a lot of roommates).
Here is what they found:
Morningside Heights ranked first place for the best neighborhoods for college grads, not only for its affordability but also since it offers a college environment that might help ease the transition from college life to the real world. It’s one of the few remaining Manhattan neighborhoods where you can rent a spacious two-bedroom for less than $3,000/month, meaning if there is a roommate, individual rent breaks down to less than $1,500/month. Another perk: Morningside Heights is about a 30-minute commute to neighborhoods like Times Square and Union Square.
For those lucky enough to have a guarantor (or folks willing to help out with high rent), the Financial District and Midtown are the best options for fast commutes. Of course, these neighborhoods are incredibly expensive and StreetEasy notes that might be more difficult to find a roommate than it is in the Brooklyn and Queens neighborhoods on their list.
In Brooklyn, Bed-Stuy, Clinton Hill, Bushwick, and Gowanus were found to be the most affordable neighborhoods for grads, if you don’t mind having multiple roommates. While Dumbo and Downtown Brooklyn offers short commutes to the Financial District, finding a two-bedroom under $3,000/month isn’t an easy feat. Astoria, the only Queens neighborhood to make the list, was found to have many affordable apartments that would be affordable for those earning less than $60,000.