If I have a low budget and want to live in a rental apartment in Manhattan, what can I do?

Although living in Manhattan can be very expensive, there are ways to reduce your costs and find an apartment that you may be able to afford.  Several ideas include finding one or more roommates, subletting from a current tenant or living in certain sections of Manhattan with more reasonably-priced apartments.

Roommates
Finding one or more roommates cannot only save you money on rent, but it can also reduce your utility bills and general home expenses.  As the number of bedrooms in an apartment increases, the rent per bedroom tends to decline.

For example, a studio may cost $2,000, while a convertible 2-bedroom (large 1-bedroom) could cost $3,000, saving each tenant an average of $500 per month ($1,500 instead of $2,000 rent per month per person) compared with living on their own in a studio.

Sublets
Sublets are very common in NYC and offer relatively easy ways to find affordable living in Manhattan.  Most sublet situations are generally for short-term living (less than one year), so there are certainly opportunities for finding current tenants asking for sub-market rents or willing to negotiate.  To find the best deals, try to target current tenants who are in urgent situations and must find someone to take over their lease or cover their rent for several months.

Location
Targeting certain sections of Manhattan that offer considerably cheaper apartments on average is another way to find a place you can potentially afford.  Neighborhoods in Upper Manhattan, such as Washington Heights and Inwood, offer much lower rents compared with downtown Manhattan, while Roosevelt Island is a more affordable alternative to midtown.  Other options include living far east on the Upper East Side, in the East Village or the Lower East Side.