Rents For 1-Bedrooms Drop Near Most NYC Subway Stops: Study

NEW YORK CITY — New Yorkers on the hunt for deals on one-bedroom apartments might want to start looking near the closest subway stop.

Rents fell around 418 out of 473 stops across the city during the coronavirus pandemic, according to a new study by RentHop.

All told, 88 percent of subway stops had rents fall for nearby one-bedrooms, the study found.

The citywide dip isn't just potentially helpful for apartment hunters — one-bedroom tenants looking to stay put could benefit as well.

"New Yorkers living in one-bedroom apartments may be able to save some money should they decide to renew their lease," the study states.

The cost of apartments dropped significantly citywide during the coronavirus pandemic. And landlords, fearing losses, have kept about half of unrented apartments off the market in hopes prices will rebound.

A RentHop researcher compared prices from Jan. 1 through March 31 this year and in 2020. She found the biggest drops at these five stops:

• 66th St./Lincoln Center — 1/2 trains ($3,100; dropped 23 percent)
• Delancey St./Essex St. — F train ($2,495; dropped 21.9 percent)
• 81st St. — A/B/C trains ($2,500; dropped 21.8 percent)
• Forest Ave. — M train ($1,800; dropped 21.7 percent)
• Delancey St./Essex St. — J/M/Z ($2,500; dropped 21.3 percent)

Major subway stations in Manhattan and Brooklyn also had rents drop for nearby one-bedrooms. Those included:

• Bowling Green — 4/5 trains ($3,100; dropped 17.6 percent)
• Times Sq. – 42nd St. — 1/2/3 trains ($3,036; dropped 15.7 percent)
• Grand Central — 4/5/6 trains ($3,040; dropped 15.6 percent)
• Bedford Ave. — L train stop ($3,097; dropped 13.6 percent)
• Metropolitan Ave. — G train ($3,000, dropped 13.8 percent)
• Atlantic Ave./Barclay’s Center — 2/3/4/5 ($2,850; dropped 14.8 percent)

Check this map to see where rents stand near subway stops across the city: