Parkchester in the Bronx is currently the least expensive neighborhood to rent in New York City, according to recent neighborhood-level pricing data. The median asking rent in Parkchester is significantly below the citywide average, offering lower monthly costs compared with many other areas. For renters who have been priced out of Manhattan and much of Brooklyn, the data indicate that Parkchester may present a more affordable option.
What the numbers show
In a Feb. 10 piece, Time Out highlighted a neighborhood analysis that flagged Parkchester as the least expensive of 15 NYC neighborhoods examined. Time Out, drawing on data from Zumper, cited a citywide median rent of roughly $4,400 and estimated that renters who pivot to cheaper neighborhoods could save around $20,000 to $30,000 per year.
The underlying list comes from a Zumper analysis that compares recent listing inventory across all unit sizes. Zumper ranks Parkchester first with a median rent of about $1,800, followed by Pelham Bay at $1,995 and Riverdale at $2,040. In its neighborhood table, Zumper lays out both monthly and percentage savings versus the city median, showing gaps of roughly $2,000 to $2,600 per month and year-over-year savings that can clear $28,000 for some neighborhoods.
Those savings are not just theoretical in a city where paychecks still have to stretch. U.S. Census Bureau data compiled by Census Reporter puts New York City’s median household income in the roughly $70,000 to $80,000 range, which is why the common 30 percent rent-to-income guideline pushes many would-be renters toward outer-borough options…